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REUTERS/Brian Snyder/File photo Acquire Licensing RightsOct 25 (Reuters) - IT software and consultancy services provider IBM (IBM.N) reported third-quarter revenue slightly above Wall Street targets on Wednesday, buoyed by stable demand for its software solutions and a stronger-than-expected mainframe business. Shares of the Armonk, New York-based company rose 2% in trading after the bell. While the company has seen a slowdown in the growth of its overall business compared to last year, it reiterated its annual target for revenue growth and free-cash-flow generation. Revenue at its software segment, which now includes newly acquired IT budgeting software maker Apptio, rose nearly 8%, excluding the impact from a strong dollar. IBM's revenue in the third quarter rose about 5% to $14.8 billion, compared to an estimate of $14.73 billion, according to LSEG data.

Persons: Brian Snyder, Ernst &, James Kavanaugh, Chavi Mehta, Pooja Desai Organizations: REUTERS, IBM, Ernst & Young, Reuters, Big, Revenue, Thomson Locations: Cambridge , Massachusetts, U.S, , New York, United States, Bengaluru

☆ TI forecasts weak fourth-quarter as industrial weakness deepens
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A Texas Instruments Office is shown in San Diego, California, U.S., April 24, 2018. Broader demand from the industrial market – Texas Instruments' biggest by revenue share – has worsened. China is a key market for Texas Instruments, with about 25% of its revenue coming from companies headquartered there. The company forecast current-quarter revenue between $3.93 billion and $4.27 billion, compared with analysts' average estimates of $4.49 billion, according to LSEG data. Revenue in the quarter ended Sept. 30 fell 14% to $4.53 billion, compared with estimates of $4.58 billion.

Persons: Mike Blake, Chavi Mehta, Shailesh Organizations: Texas Instruments, REUTERS, Texas, United Auto Workers, Revenue, TI, Thomson Locations: San Diego , California, U.S, Dallas , Texas, China, chipmakers, Bengaluru

☆ Cadence's downbeat fourth-quarter forecast signals weakness in chip industry
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO:The logo of Cadence Design Systems is pictured outside the company's offices in San Jose, California, U.S., January 31, 2020. REUTERS/Stephen Nelli/File Photo Acquire Licensing RightsOct 23 (Reuters) - Cadence Design Systems (CDNS.O) forecast fourth-quarter revenue and adjusted profit below Wall Street estimates on Monday, as slower R&D spending by semiconductor firms navigating a tough economy weighs on the chip design software provider. A slower-than-expected chip industry recovery has a cascading impact on firms like Cadence, which makes software tools and hardware that help produce blueprints for chips before they are mass manufactured. Cadence expects current-quarter adjusted profit per share in the range of $1.30 to $1.36. Analysts had expected adjusted profit of $1.37 per share, as per LSEG data.

Persons: Stephen Nelli, Akshita Toshniwal, Chavi Mehta, Shailesh Organizations: Cadence Design Systems, REUTERS, Wall, Cadence, Revenue, Thomson Locations: San Jose , California, U.S, Beijing, China, Bengaluru

Smartphone with Netflix logo is placed on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsLOS ANGELES Oct 19 (Reuters) - Streaming pioneer Netflix (NFLX.O) showed resilience by gaining more quarterly subscribers than in the past three years despite strikes by Hollywood's writers and actors, sending its shares up 13.5% in premarket trading on Thursday. Shares rose to $393.45 in an indication that the company was set to add nearly $21 billion to its market capitalization. "The management deserves an Emmy for managing investor expectations," Bernstein analysts wrote in a note, adding that paid-sharing has opened up a bigger-than-expected market of potential subscribers for Netflix. "Due to its large international presence, Netflix is positioned better than most entertainment companies in plugging programming gaps from the writers' and actors' strikes," said Insider Intelligence principal analyst Ross Benes.

Persons: Dado, Bernstein, Walt Disney, Ross Benes, Benes, Ted Sarandos, Sarandos, Sophie Lund, Yates, Hargreaves Lansdown, Dawn Chmielewski, Lisa Richwine, Chavi Mehta, Gerry Doyle, Arun Koyyur Organizations: Netflix, REUTERS, Paramount Global, Warner Bros Discovery, Writers Guild of America, Intelligence, vise, Netflix's U.S, USA Network, Thomson Locations: Los Angeles, Bengaluru

☆ Sold out hotels and spike in beer sales: How the Cricket World Cup could boost India's economy
▼ + stars: | 2023-10-19 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

Spectators react in the crowd during the ICC Men's Cricket World Cup India 2023 between India and Afghanistan at Arun Jaitley Stadium on October 11, 2023 in Delhi, India. Matt Roberts-icc | Icc | Getty ImagesIndia is once again hosting the Cricket World Cup after more than a decade. "We must remember that the World Cup coincides with the Diwali season. Media and advertisingDuring the last Cricket World Cup in 2019, a global average of 1.6 billion people tuned in. Spectators watch the 2023 ICC Men's Cricket World Cup one-day international (ODI) match between Australia and Sri Lanka at the Ekana Cricket Stadium in Lucknow on Oct. 16, 2023.

Persons: Matt Roberts, Shantanu Bhargava, Lalitya, Avi Mehta, Waterfield, Bhargava, Dhavala, Aditya Suresh, Suresh, Zomato, Prakash Singh, Mehta, —, Radico Khaitan, Shibani Kurian, It's, Tauseef Mustafa Organizations: ICC Men's Cricket, Arun, icc, Icc, Getty, Cricket, Waterfield Advisors, Hospitality, CNBC, International Cricket Council, Macquarie Group Demand, Bangladesh, Pakistan, Indian Hotels Company, Macquarie Group, Alcohol, Afp, Spirits, Kotak Mahindra AMC, Media, Disney, ICC, Board, Control, BCCI, Ekana Cricket Locations: India, Afghanistan, Delhi, Bangladesh, Sri Lanka, Pakistan, Ahmedabad, Australia, New Zealand, Netherlands, Pune, LSEG, New Delhi, Lucknow

☆ Snap shares jump as leaked 2024 user target exceed Wall St expectations
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO, in New York City, New York, U.S. on March 2, 2017. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsOct 16 (Reuters) - Snap (SNAP.N) shares jumped 11% on Monday after a media report said the social media company is expected to have more than 475 million daily active users (DAUs) in 2024, above Wall Street expectations. Snap also expects advertising revenue to grow more than 20% in 2024 as part of its "stretch goals", the report said, putting it above Wall Street estimates of 14% growth. Snap was the first ad-reliant social media firm to flag a demand downturn last year as brands cut budgets amid red-hot inflation and high interest rates. Macroeconomic woes coupled with rising competition from social media platforms like Tiktok, saw Snap lose 80% of its valuation last year.

Persons: Lucas Jackson, Evan Speigel, Bernstein, Mark Schilsky, Chavi Mehta, Tasim Zahid Organizations: Inc, New York Stock Exchange, REUTERS, Thomson Locations: New York City , New York, U.S, Bengaluru

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. The criminal and civil probes followed a voluntary disclosure by the unit, Accenture Federal Services, to the government, the IT service provider said in a regulatory filing. "This matter could subject us to adverse consequences," Accenture said. The unit works with the Accenture's clients in the U.S. federal government and accounted for 15% of overall fiscal 2023 revenue from North America, the company's biggest market. Reporting by Chavi Mehta in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Chavi Mehta, Arun Koyyur Organizations: Accenture, REUTERS, U.S . Justice, Accenture Federal Services, DOJ, Thomson Locations: Davos, Switzerland, U.S, North America, Bengaluru

☆ Disneyland, Disney World lift some park ticket prices
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A Spider Bot is pictured on a backpack ahead of the opening of the Avengers Campus area at Disney California Adventure Park in Anaheim, California, U.S., June 1, 2021. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 11 (Reuters) - Walt Disney Co (DIS.N) said on Wednesday it is raising some theme-park ticket prices for its Disneyland resort in California and Walt Disney World in Florida, weeks after the entertainment giant unveiled a hefty spending plan for its parks business. The company has hiked prices at Disneyland by up to 8.9%, with the price per ticket on busy days such as holidays increasing by 8.4% to $194. Yearly pass prices at Walt Disney World in Orlando are rising by up to 10%, with the most expensive Incredi-Pass now selling for $1,449, up $50. Earlier this month, Disney said it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to spur traffic.

Persons: Mario Anzuoni, Disney, hasn't, Chavi Mehta, Devika Organizations: Disney, REUTERS, Walt Disney Co, Walt Disney, Thomson Locations: Anaheim , California, U.S, California, Florida, Orlando, United States, Bengaluru

☆ US regulator probes Twitter security lapse before Musk took over - Bloomberg News
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 10 (Reuters) - The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. Musk renamed the social media platform as X following the acquisition. Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Jack Dorsey, Ned Segal, Parag Agrawal, Musk, Chavi Mehta, Shailesh Kuber, Shounak Organizations: Twitter, REUTERS, Bloomberg News, SEC, Thomson Locations: U.S, Bengaluru

☆ Apple updates iPhone 12 software to address France's radiation testing
▼ + stars: | 2023-10-10 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Apple has disputed the findings of French regulators who said that the iPhone 12, which has been on the market for three years, gave off more than permissible amounts of radiation and halted sales of the device. On Tuesday, Apple gave its fullest explanation yet of the discrepancy between France's findings and those in other countries where the iPhone 12 has been approved for sale. In a statement, Apple said that the iPhone 12 is still safe to use even without the software update. "We want all iPhone 12 users to know that iPhone 12 is safe to use and always has been. IPhone 12 was certified to meet applicable worldwide energy transmission regulations and standards when it first shipped in 2020 and no changes have been made since then that would affect energy transmission," Apple said in the statement.

Persons: Apple, iPhones, Chavi Mehta, Sriraj Kalluvila, Lisa Shumaker, Sandra Maler Organizations: Apple, L'Agence Nationale des, Thomson Locations: France, Bengaluru

☆ Vietnamese EV maker VinFast's third-quarter revenue more than doubles
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023. REUTERS/Lisa Baertlein/File Photo Acquire Licensing RightsOct 5 (Reuters) - Vietnamese electric-vehicle (EV) maker VinFast on Thursday reported a 159% rise in third-quarter revenue as it ramped up car deliveries and sought to boost sales by partnering with dealers in the United States. VinFast, which is backed by Vietnam's largest conglomerate Vingroup (VIC.HM), is gearing up to strengthen its foothold overseas. However, the EV maker has struggled after it earlier this year voluntarily recalled the first batch of 999 cars delivered to the United States. Revenue was 8.25 trillion Vietnamese dong ($338 million), while net loss widened to 15 trillion Vietnamese dong.

Persons: Lisa Baertlein, VinFast, Phuong Nguyen, Chavi Mehta, Sriraj Organizations: REUTERS, Vietnam's, Revenue, Thomson Locations: Los Angeles , California, U.S, United States, India, Hanoi, Bengaluru

☆ Apple CEO Tim Cook makes $41 mln from biggest stock sale in two years
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed. A report from research firm Canalys showed North American smartphone shipments were expected to fall 12% in 2023.

Persons: Tim Cook, Loren Elliott, Cook, Chavi Mehta, Akash Sriram, Anil D'Silva Organizations: Apple, REUTERS, KeyBanc, Thomson Locations: Cupertino , California, U.S, United States, American, Bengaluru

☆ Apple releases software update to resolve iPhone 15 overheating issue
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS/Stephanie Lecocq/File Photo/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) released an update to its iOS 17 software on Wednesday to resolve an overheating issue related to its latest iPhones. The iPhone 15 series, encased in a titanium shell, was launched last month with its custom A17 pro chip powering the Pro and Pro Max phones. Shortly after the iPhone 15 models were launched, consumers complained about bad battery life and overheating. The latest update to the iOS 17 software includes "important bug fixes, security updates, and addresses an issue that may cause the iPhone to run warmer than expected," an Apple spokesperson said on Wednesday.

Persons: Stephanie Lecocq, Pro Max, Apple, Instagram, Chavi Mehta, Anil D'Silva, Sherry Jacob, Phillips Organizations: Apple, REUTERS, Pro, Thomson Locations: Lille, France, Bengaluru

☆ EU starts early-stage probe into Nvidia-dominated AI chip market's abuses - Bloomberg News
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith/File Photo Acquire Licensing Rights企業 NVIDIA Corp フォローSept 29 (Reuters) - The European Union is examining alleged anticompetitive abuses in chips used for artificial intelligence, a market which Nvidia (NVDA.O) dominates, Bloomberg News reported on Friday, citing people familiar with the matter. Nvidia declined to comment, while the European Commission did not immediately respond to Reuters' request for a comment. France's competition authority raided Nvidia's local offices this week on suspicion the chipmaker engaged in anticompetitive practices, the Wall Street Journal reported on Thursday. Reporting by Chavi Mehta in Bengaluru; Editing by Shilpi Majumdar私たちの行動規範：トムソン・ロイター「信頼の原則」

Persons: Robert Galbraith, Chavi Mehta, Shilpi Majumdar 私 Organizations: Nvidia, REUTERS, NVIDIA, European, Bloomberg, European Commission, Commission, Reuters, Wall Street Locations: Santa Clara , California, Bengaluru

☆ Accenture warns of weaker fiscal 2024 as IT spending remains under pressure
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Accenture expects first-quarter revenue in the range of $15.85 billion to $16.45 billion, while analysts polled by LSEG forecast $16.43 billion. The company also forecast fiscal 2024 adjusted earnings per share to be in the range of $11.97 to $12.32, below estimates of $12.45. The mid-point of its revenue growth forecast of 2% to 5% in local currency also fell short of estimates. Accenture's revenue rose 4% to $16 billion in the fourth quarter ended Aug. 31, compared with estimates of $16.08 billion.

Persons: Arnd, Julie Sweet, Chavi Mehta, Shinjini Organizations: Accenture, REUTERS, U.S, Infosys, Tata Consultancy Services, LSEG, Thomson Locations: Davos, Switzerland, Federal, Indian, Bengaluru

☆ Epic Games is laying off about 830 employees, divesting Bandcamp
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen in this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration Acquire Licensing RightsSept 28 (Reuters) - "Fortnite" maker Epic Games is laying off about 830 employees, or 16% of its staff, and divesting online music platform Bandcamp, the company said on Thursday. The videogame company will also spin-off most of SuperAwesome, which Epic Games acquired in 2020. SuperAwesome is a platform for developers to include kid-safety tools in their products. The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles.

Persons: Brendan McDermid, Tim Sweeney, Sweeney, Harry Potter, Chavi Mehta, Samrhitha, Jaspreet Singh, Arun Koyyur, Maju Samuel Organizations: REUTERS, Epic Games, Warner Bros Discovery, Apple, U.S, Supreme, Thomson Locations: SuperAwesome, Bengaluru

☆ Micron shares fall as demand recovery 'off to slow start'
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. "The recovery path is off to a slow start," analysts at Evercore ISI said in a note. Micron is also working to become a supplier to AI chip giant Nvidia (NVDA.O), it said on Wednesday. The company forecast adjusted loss per share of $1.07 for the current quarter, steeper than analysts' estimates for a 95 cents-per-share loss. Those losses have largely been recouped, with its shares rising about 36% in 2023 as investors hoped for a recovery.

Persons: Kai Pfaffenbach, Micron's, Chavi Mehta, Yuvraj Malik, Devika Organizations: REUTERS, Micron, Evercore, Nvidia, Citigroup, LSEG, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ Epic Games is laying off roughly 900 employees - Bloomberg News
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen in this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration Acquire Licensing RightsSept 28 (Reuters) - "Fortnite" maker Epic Games is laying off about 900 employees, or 16% of its staff, Bloomberg News reported on Thursday. The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles. Epic Games could not immediately be reached for comment. Reporting by Chavi Mehta and Samrhitha Arunasalam in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Harry Potter, Chavi Mehta, Samrhitha, Arun Koyyur Organizations: REUTERS, Bloomberg, Warner Bros Discovery, Apple, U.S, Supreme, Thomson Locations: Bengaluru

☆ Snap to close AR division for enterprises months after launch
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Traders gather at the post where Snap Inc. is traded, just before the opening bell on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 11, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 27 (Reuters) - Snap Inc (SNAP.N) is shutting its division focused on making augmented reality (AR) services for businesses within months of its launch, as the ad-dependent social media company struggles in a tough economy. Snap, the maker of photo messaging app Snapchat, started AR Enterprise Services (ARES) in March, looking to diversify its revenue beyond digital advertising that makes up the vast majority of its revenue. CEO Spiegel said rising adoption of generative artificial intelligence made it hard for Snap to differentiate its offering that allowed customers to use its AR tech on their sites as companies created their own experiences. Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Evan Spiegel, Spiegel, Chavi Mehta, Shinjini Organizations: New York Stock Exchange, REUTERS, Enterprise Services, Thomson Locations: New York, U.S, Bengaluru

☆ Former Microsoft product chief joins Amazon as head of devices business
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Panos Panay demonstrates the Microsoft Surface Studio computer at a live event in the Manhattan borough of New York City, U.S.,October 26, 2016. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsSept 27 (Reuters) - Former Microsoft (MSFT.O) product chief Panos Panay will lead Amazon.com's (AMZN.O) struggling unit responsible for the firm's Alexa and Echo products. Though relatively small within Amazon's sprawling empire, the device unit has been symbolically important as a gadget testing ground and Alexa's public face through voice-assistant devices. Amazon has said its devices and services business is not profitable, without providing figures. Panay, who more recently oversaw the launch of the Windows 11 operating system, has experience in both hardware and integrated services.

Persons: Panos Panay, Lucas Jackson, Amazon, Dave Limp, Chavi Mehta, Sriraj Organizations: Microsoft, REUTERS, Echo, Amazon, Reuters, Thomson Locations: Manhattan, New York City, U.S, Panay, Bengaluru

☆ Google's 25-year journey from dorm to internet dominance
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

The logo of Google is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsSept 26 (Reuters) - More than 25 years ago, two students at Stanford University brainstormed in their dormitory and came up with an idea - to create an internet search engine that would organize web pages and also rank them. Initially called BackRub, the startup grew into one of the world's most valuable and influential companies, Google. Google's products, including Gmail and search, are now used by billions and its co-founders, Larry Page and Sergey Brin, rank among the richest people in the world. Here are some milestones in the history of the tech giant, whose parent is now known as Alphabet:Reporting by Chavi Mehta, Arsheeya Bajwa, Yuvraj Malik, Samrhitha Arunasalam and Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Larry Page, Sergey Brin, Chavi Mehta, Arsheeya Bajwa, Yuvraj Malik, Samrhitha, Jaspreet Singh, Pooja Desai Organizations: Google, Viva Technology, Porte de, REUTERS, Stanford University brainstormed, Gmail, Thomson Locations: Porte, Paris, France, Bengaluru

☆ Michael Bloomberg outlines succession plan for media empire, New York Times reports
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Former mayor of New York Michael Bloomberg speaks during the Earthshot Prize Innovation Summit in New York, U.S., September 19, 2023. REUTERS/Shannon Stapleton/Pool Acquire Licensing RightsSept 22 (Reuters) - Michael Bloomberg, co-founder of Bloomberg LP, outlined a succession plan for the financial information and news company, saying that his foundation Bloomberg Philanthropies will inherit it and then eventually sell it, the New York Times reported. The former New York City Mayor made the announcement at the Climate Summit hosted by the newspaper on Thursday. Representatives for Michael Bloomberg declined to comment. Thomson Reuters (TRI.TO)-owned Reuters News competes with Bloomberg News, a unit of Bloomberg LP.

Persons: New York Michael Bloomberg, Shannon Stapleton, Michael Bloomberg, Bloomberg Philanthropies, Bloomberg, Susan Brown, Emma, Georgina, Dow Jones, Chavi Mehta, Anil D'Silva Organizations: New York, REUTERS, Bloomberg, New York Times, New, New York City Mayor, Climate, Washington Post, Thomson Reuters, Reuters, Bloomberg News, Thomson Locations: New York, U.S, United States, Bengaluru

☆ More automakers plug into Tesla's EV charging network
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsSept 21 (Reuters) - More automakers signed up to access Tesla's electric-vehicle charging infrastructure across the United States, taking the Elon Musk-led company's superchargers closer to becoming the industry standard. Texas has approved a plan to require EV charging companies to include Tesla's plug if they want to be eligible for federal funds. Tesla's North American Charging Standard is more widely available and reliable than rival charging network CCS, which is backed by automakers such as Volkswagen (VOWG_p.DE) and Hyundai Motor (005380.KS). Here is a list of the companies adopting NACS:List of U.S. states that have either mandated Tesla's charging tech or plan to:Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Additional reporting by Chavi Mehta; Editing by Devika Syamnath and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Elon, company's superchargers, Akash Sriram, Jaspreet Singh, Chavi Mehta, Devika Syamnath, Arun Koyyur Organizations: REUTERS, EV, CCS, Volkswagen, Hyundai, Thomson Locations: Beijing, China, United States, Texas, Bengaluru

☆ VinFast discloses revenue surge in first report since blockbuster debut
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023. The company posted revenue of 7.95 trillion Vietnamese dong ($327 million) for the second quarter ended June 30. Net loss in the quarter narrowed to 12.54 trillion Vietnamese dong from 13.65 trillion Vietnamese dong a year earlier, driven by increase in delivery volume and cuts in its research and development costs. The company delivered 9,535 vehicles in the quarter, recording a more than fivefold jump from the first quarter. Still, a large portion the company's revenue comes from sales to subsidiaries of its own parent company Vingroup.

Persons: Lisa Baertlein, Chavi Mehta, Sriraj Organizations: REUTERS, Ford, General Motors, Thomson Locations: Los Angeles , California, U.S, Bengaluru

☆ Vinfast's second-quarter deliveries jump over fivefold sequentially
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

People walk next to a VinFast logo on a screen during the press day at the Los Angeles Auto Show in Los Angeles, California, U.S. November 17, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 18 (Reuters) - Vietnamese electric-vehicle maker Vinfast said on Monday it delivered 9,535 vehicles in the second quarter, recording a more than fivefold jump from the first quarter. Vinfast's blockbuster debut on Wall Street in August saw its shares more than triple in value, but the company's small amount of publicly available shares has made the stock prone to volatility. Its shares have fallen about 53% since debut and lost 2.17% to $17.15 in premarket trading on Monday. Reporting by Chavi Mehta in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Vinfast, Chavi Mehta, Devika Organizations: Los Angeles Auto, REUTERS, Thomson Locations: Los Angeles , California, U.S, Bengaluru

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