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☆ Arm shares sink as some analysts question valuation after weak forecast
▼ + stars: | 2023-11-09 | by ( Arsheeya Bajwa | ) www.reuters.com time to read: +2 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Qualcomm (QCOM.O) sees 10% sequential sales growth in smartphones given overall Android smartphone restocking. On the other hand, Arm only guided for mid to high single-digit sequential sales growth for its royalty revenues, the brokerage added. Arm on Wednesday forecast a third-quarter revenue range with a midpoint of $760 million, below analysts' estimates of $767.84 million, according to LSEG data. But its annual revenue forecast was above estimates, as it benefited from a surge in companies designing new chips to tap the boom in artificial intelligence applications.

Persons: Dado Ruvic, Frank Lee, Lee, Nvidia's, Justin Sumner, Arsheeya, Shailesh Organizations: REUTERS, Holdings, Apple, Qualcomm, HSBC, Voya Investment Management, Thomson Locations: Bengaluru

☆ New York Times beats quarterly revenue estimates as ad sales rebound
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

People walk past the New York Times Building in New York August 14, 2013. New York Times Co spokeswoman Eileen Murphy said the company thinks the cause of the outage was related to a scheduled maintenance update, which occurred... Acquire Licensing Rights Read moreNov 8 (Reuters) - New York Times Co (NYT.N) beat estimates for quarterly revenue on Wednesday, benefiting from increasing advertising spend and more subscribers converting to higher-priced bundles. The company reported revenue of $598.3 million for the third quarter, above analysts' average estimate of $589.4 million, according to LSEG data. Subscription revenue grew 9.4% to $418.6 million in the three months to September, above estimates, as introductory promotional prices graduated to higher prices for many customers. Advertising revenue increased 6% year-over-year to $117.1 million, exceeding market expectations as well.

Persons: Eileen Murphy, Arsheeya, Maju Samuel Organizations: New York Times, New York Times Co, Times, Meta, Thomson Locations: New York, Bengaluru

☆ SiriusXM rolls out new streaming app
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - SiriusXM (SIRI.O) launched its new streaming app with a rebranded logo on Wednesday as the satellite radio company looks to add subscribers with the introduction of its lower priced offerings. The app will be rolled out in North America on Dec. 14, with its all-access plan priced at $9.99 a month. Some new features introduced by the satellite radio company include curated sections and a customized landing page. That compared with 34 million for the "SiriusXM" segment, which includes various channels, podcasts and infotainment. Audible and SiriusXM are also working together to share content beginning in early 2024, SiriusXM said.

Persons: SiriusXM, Arsheeya, Shounak Dasgupta Organizations: Spotify, Sirius, Thomson Locations: North America, Bengaluru

☆ GlobalFoundries projects profit above estimates in positive sign for chip market
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 7 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) forecast fourth-quarter profit above analysts' estimates on Tuesday, providing the latest sign that a supply glut in the semiconductor industry was easing. Both Intel (INTC.O) and Advanced Micro Devices (AMD.O) have indicated that a recovery is afoot in the personal computer market, a key source of revenue for semiconductor makers. GlobalFoundries said it expects adjusted profit per share to be in the range of 53 cents to 64 cents in the three months to December, above estimates of 52 cents, according to LSEG data. The company, whose customers range from mobile phone chip designer Qualcomm (QCOM.O) to the U.S. Department of Defense, said net revenue fell 11% to $1.85 billion in the third quarter, but came in line with estimates. Adjusted earnings of 55 cents per share beat estimates of 49 cents.

Persons: Brendan McDermid, Thomas Caulfield, GlobalFoundries, Arsheeya, Sriraj Organizations: Nasdaq, REUTERS, Intel, Devices, Qualcomm, U.S . Department of Defense, Thomson Locations: New York City, U.S, Bengaluru

☆ Palo Alto Networks intends to buy startup Talon Cyber
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 6 - Palo Alto Networks (PANW.O) said on Monday it intends to buy Israeli startup Talon Cyber Security, as it looks to beef up its cyber security offering to enterprises. Founded in 2021, Talon provides secure browser and security tools to manage access to client servers from third-party and personal devices. The acquisition proposal follows a series of investments by Palo Alto in Israeli firms, which includes various buyouts of local companies since 2012. Most recently, it agreed to acquire Israeli cloud security startup Dig Security for an undisclosed amount. Talon's CEO Ofer Ben-Noon described Palo Alto as an "ideal partner," according to the press release.

Persons: Ofer Ben, Talon, George Kurtz, Arsheeya, Shweta Agarwal Organizations: Palo Alto Networks, Talon, Palo Alto, Security, Evolution Equity Partners, Thomson Locations: Alto, Tel Aviv, Bengaluru

A woman looks at a new iPhone 15 Pro and a Huawei Mate 60 Pro as Apple's new iPhone 15 officially goes on sale across China, at an Apple store in Shanghai, China September 22, 2023. Research firm Canalys estimated that overall smartphone sales in China fell 3% in July-September from a year earlier as consumers bought fewer smartphones as an economic recovery was choppy. On the other hand, analysts estimate that Huawei's China smartphone sales grew strongly in the quarter. Apple said on Thursday that its overall sales in China dipped 2.5% but it blamed tough Mac computer and iPad sales for that. Aggressive discounting on the iPhone 15 series in the run up to the annual Singles Day shopping festival by major Chinese online retailers is also encouraging demand.

Persons: Aly, Tim Cook, Apple, Cook, Canalys, Apple's, Huawei's, Yuvraj Malik, Bengaluru ， Stephen Nellis, Yelin, Arsheeya Bajwa, Harshita Varghese, Sayantani Ghosh, Gerry Doyle Organizations: Huawei, Apple, REUTERS, Huawei Technologies, Reuters, Research, HK, Taobao, Pro Max, Qualcomm, Thomson Locations: China, Shanghai, Bengaluru ，, San Francisco, Yelin Mo, Beijing, Bengaluru

☆ Splunk to lay off nearly 7% of its workforce amid economic woes
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Splunk (SPLK.O) said on Wednesday it would lay off nearly 7% of its global workforce as the cybersecurity and cloud software company grapples with an uncertain macroeconomic environment. Splunk had 8,000 employees as of Jan. 31, of which nearly 560 are set to be impacted by the layoffs. "The overall market has retracted and we expect the macro environment will continue to be unpredictable for the foreseeable future," said CEO Gary Steele in an email sent to employees, about a month ahead of its quarterly results. The reorganization is unrelated to the deal Cisco Systems (CSCO.O) made in September to acquire Splunk for about $28 billion, Steele added. Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Splunk, Gary Steele, Steele, Arsheeya, Shilpi Majumdar Organizations: Cisco Systems, Thomson Locations: Bengaluru

☆ Verisk tops third-quarter expectations on resilient demand from insurers
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Verisk Analytics (VRSK.O) beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk. The data analytics company's products cater to insurers across sectors ranging from real estate to manufacturing. A rebound in markets is set to help insurers post higher returns from their investments, improving their capacity for enterprise expenditure. Underwriting revenue, which comes from providing property-specific underwriting and rating information and data solutions, was up nearly 9% at $475.2 million. Verisk posted adjusted profit of $1.52 per share for the quarter, compared with analysts' estimate of $1.48 per share.

Persons: Chubb, Verisk, Arsheeya, Shilpi Majumdar Organizations: Insurance, Thomson Locations: New Jersey, Bengaluru

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.

Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru

☆ Lumentum to buy Cloud Light for $750 mln as demand for cloud-based solutions rises
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Oct 30 (Reuters) - Lumentum Holdings (LITE.O) said on Monday it would buy Hong Kong-based Cloud Light Technology for about $750 million, as the networking equipment maker looks to capitalize on growing demand for cloud computing. Cloud Light, which makes fiber optic equipment and automotive sensors, is expected to expand Lumentum's opportunities in the cloud data center and networking infrastructure space. Cloud Light, which was spun off from Japanese electronic components manufacturer TDK (6762.T) in 2018, generated about $200 million in revenue over the last year, Lumentum added. Lumentum intends to finance the transaction, expected to close by the end of this year, through cash from its balance sheet. At the time of closing, the transaction amount would be paid in cash and the assumption and substitution of outstanding unvested Cloud Light options.

Persons: Lumentum, Arsheeya, Shilpi Majumdar Organizations: Lumentum Holdings, Light Technology, Microsoft, Google, Securities, Thomson Locations: Hong Kong, California, Bengaluru

☆ Mobileye cuts annual revenue forecast as automakers look to ease production
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The listing of Mobileye Global Inc., the self-driving unit of chip maker Intel Corp, is seen at the Nasdaq MarketSite, at Times Square in New York City, U.S., October 26, 2022. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsOct 26 (Reuters) - Mobileye Global (MBLY.O) lowered the upper end of its annual revenue forecast on Thursday, in a sign that slowing electric-vehicle production is likely to weigh on demand for its driver-assistance technology. Automakers such as Tesla (TSLA.O), General Motors (GM.N) and Ford (F.N) have turned cautious about expanding their EV production capacity amid risks of a slowdown in demand due to higher borrowing costs and growing economic uncertainties. This, in turn, may hurt Mobileye, a supplier for EV makers such as Polestar . The Israel-based firm expects full-year revenue to be between $2.07 billion and $2.09 billion, compared with its earlier forecast of $2.07 billion to $2.11 billion.

Persons: Shannon Stapleton, Mobileye, Arsheeya, Shilpi Majumdar Organizations: Mobileye Global Inc, Intel Corp, Nasdaq, Times, REUTERS, General Motors, Ford, EV, Volkswagen, Porsche, Thomson Locations: New York City, U.S, Israel, Bengaluru

☆ Amphenol forecasts dour Q4 on weak telecom spending
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Electronic components maker Amphenol (APH.N) forecast fourth-quarter revenue below market estimates on Wednesday, as its clients across industries cut spending in the face of high borrowing costs. Telecom providers, one of Amphenol's biggest customers, have cut orders for communications equipment after a rush to build out their 5G networks over the past two years. The communications solutions business, which produces fiber optic products and antennas, saw a decline of nearly 16% in third-quarter net sales to $1.28 billion. Third-quarter adjusted earnings of 78 cents per share also beat estimates of 74 cents. Amphenol forecast adjusted earnings between 75 cents and 77 cents per share for the fourth quarter, in line with estimates of 76 cents per share.

Persons: Amphenol, Arsheeya, Shinjini Organizations: Telecom, Thomson Locations: Connecticut, Bengaluru

☆ Roper forecasts profit above estimates as IT spend on application software picks up
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Roper features a host of enterprise software segments such as Strata, its financial analysis and performance platform catered to the healthcare industry, and Aderant, a business management software provider targeted towards law firms. The Sarasota, Florida-based company reported an adjusted profit of $4.32 per share in the third quarter, beating analysts' average estimate of $4.22 per share. Revenue from the application software business - Roper's biggest - rose nearly 25% from a year earlier to $803.4 million in the quarter ended Sept. 30. Its total third-quarter revenue was up 16% year-on-year at $1.56 billion, compared with analysts' estimates of $1.55 billion. In August, Roper completed its $1.25 billion acquisition of performance management software provider Syntellis Performance Solutions, enhancing its capacity to deliver cloud-based solutions.

Persons: Roper, Arsheeya, Shweta Agarwal Organizations: Roper Technologies, Wall, Global, Gartner, Revenue, Thomson Locations: Sarasota , Florida, Bengaluru

☆ Corning's shares fall as the Apple supplier forecasts Q4 core sales below estimates
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

Shares of Corning, whose Gorilla Glass is used by the likes of Samsung (005930.KS) and Apple (AAPL.O), fell nearly 4% before the bell. The company expects core sales of about $3.25 billion in the three months through December, compared with analysts' estimate of $3.56 billion, according to LSEG data. In the third quarter, its core sales fell by about 6% to $3.46 billion, missing estimates of $3.50 billion. The optical communications unit, one of Corning's main revenue generators, saw its net sales decline by more than 30%. The company forecast fourth-quarter core earnings of between 37 cents and 42 cents per share, below estimates of 50 cents per share.

Persons: Brendan McDermid, Wendell Weeks, Corning, Arsheeya, Milla Nissi Organizations: Corning Inc, New York Stock Exchange, REUTERS, Samsung, Apple, Counterpoint Research, Thomson Locations: New York, U.S, Corning, Bengaluru

☆ Fisker adjusts prices as EV market sees signs of demand slowdown
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 23 (Reuters) - Fisker (FSR.N) cut prices of its high-end Ocean Extreme SUV on Monday, while raising prices on two lower-priced variants, as the firm grapples with a slowdown in electric-vehicle demand and a price war started by dominant player Tesla (TSLA.O). The Ocean Extreme will now be about 11% cheaper in the U.S. at $61,499, while its Canada price has been reduced by approximately the same percentage to C$79,799 ($58,166.78). The starting price of the Tesla Model Y in the United States is $48,490. "It is essential Fisker responds to competitive realities in the rapidly growing EV market," CEO Henrik Fisker said. EV startups have borne the brunt of a price war started by Tesla to solidify its foothold in the competitive market in the face of rising borrowing costs and sticky inflation.

Persons: Brendan McDermid, Tesla, Henrik Fisker, Fisker, Arsheeya, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tesla, EV, Air, Thomson Locations: New York City, U.S, Canada, United States, Bengaluru

☆ ChatGPT creator OpenAI partners with Abu Dhabi's G42 as UAE scales up AI adoption
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

G42, founded by the emirate of Abu Dhabi, said it would utilize OpenAI's generative AI models in areas including financial services, energy, healthcare and public services. Mubadala-backed G42 has been at the forefront of AI adoption in the UAE. Abu Dhabi's Advanced Technology Research Council (ATRC) also made its Falcom 40B large language model (LLM) open source for research and commercial use in May. G42 said it would use Microsoft's (MSFT.O) Azure data centers as part of its AI infrastructure to boost regional adoption. OpenAI CEO Sam Altman had visited Abu Dhabi in June as part of his AI "world tour", where he advocated for AI developments to be regulated by international bodies.

Persons: Dado Ruvic, OpenAI, Abu, Sam Altman, Arsheeya, Pooja Desai Organizations: REUTERS, United Arab, U.S, Cerebras Systems, Abu, Technology Research, Thomson Locations: Abu Dhabi, United Arab Emirates, UAE, Bengaluru

☆ Swedish EV maker Polestar's deliveries rise 50% in Q3
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsCompanies Polestar Automotive Holding Uk Plc FollowOct 5 (Reuters) - Polestar Automotive Holding's deliveries of electric vehicles (EV) rose 50% in the third quarter from a year earlier, sending its shares up about 3% in premarket trading. The Swedish EV maker, however, reported a quarterly decline of 12% in deliveries to 13,900 units, compared with the second quarter, as high borrowing costs dent global demand for new vehicles. Globally, EV sales grew 49% to 6.2 million units in the first half of the year, a report by data analytics firm Canalys Research showed. Polestar Automotive, which is scheduled to announce its third-quarter results on Nov. 8, reiterated its tempered delivery forecast of 60,000-70,000 vehicles for the full year. The company expects to start deliveries of the Polestar 4 compact luxury crossover in China in the current quarter.

Persons: Arsheeya, Shweta Agarwal Organizations: REUTERS, Polestar Automotive, EV, Research, Polestar, Thomson Locations: Oslo, Norway, Victoria, Swedish, China, 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

☆ Uber partners with California taxi operators to boost supply
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

The logo of Uber is seen in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 26 (Reuters) - Uber Technologies (UBER.N) is partnering with Los Angeles Yellow Cab and its affiliates to increase the supply of taxis on the ride-hailing giant's platform, the company said on Tuesday. Under the new partnership, taxis associated with LA Yellow Cab and its five partner fleets will get bookings through the Uber app. The six taxi companies - which include San Diego Yellow Cab, California Yellow Cab, Long Beach Yellow Cab, Fiesta Taxi Cooperative and United Checker Cab - will add up to 1,200 cabs to the Uber platform. "We anticipate that this partnership will have a positive impact for our driver-owners as the pandemic recovery continues," said William Rouse, CEO of Los Angeles Yellow Cab.

Persons: Arnd, Uber, Lyft, William Rouse, Arsheeya, Devika Organizations: REUTERS, Technologies, Los Angeles Yellow Cab, San Diego Yellow Cab, Fiesta Taxi Cooperative, United Checker, Thomson Locations: Davos, Switzerland, Europe, Asia, San, California, Bengaluru

☆ NBCUniversal names insider Rick Cordella president of sports division
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

General Sport - Leaders Sport Summit2012 - Stamford Bridge - 10/10/12 Rick Cordella, SVP and GM NBC Sports and Olympics Digital during a talk called "The Digital Olympics: Expensive experiment or a new era in sport?" during the summit Mandatory Credit: Action Images / Matthew Childs/File Photo Acquire Licensing RightsSept 22 (Reuters) - Comcast's (CMCSA.O) NBCUniversal on Friday appointed veteran executive Rick Cordella as president of its sports division. Cordella will take charge of NBC Sports' platforms including NBC Olympics, Golf Channel and oversee sports on the company's streaming platform Peacock, home to Sunday Night Football and NASCAR. He was most recently president of programming for NBC Sports and Peacock Sports. In the role, he led NBCUniversal's sports programming strategy across broadcast, cable and streaming and oversaw sports betting and sports fantasy.

Persons: Rick Cordella, Matthew Childs, NBCUniversal, Cordella, Arsheeya, Dawn Chmielewski, Shailesh Organizations: Sport, Summit2012, GM NBC Sports, Olympics, NBC Sports, NBC, Golf Channel, Sunday Night Football, NASCAR, Peacock, Thomson Locations: Stamford, Bengaluru, Los Angeles

☆ Uber Eats to roll out AI features, more payment options
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

A delivery worker with a backpack of Uber Eats rides a bike in Nice, France, October 25, 2022. REUTERS/Eric Gaillard Acquire Licensing RightsSept 20 (Reuters) - Uber Technologies (UBER.N) will accept more payment options on its food delivery platform and roll out an artificial intelligence (AI)-powered assistant to help users find deals and explore different food options, the company said on Wednesday. Uber Eats will get a dedicated section to showcase promotional offers called "Sales Aisle". Food delivery platforms have been investing in AI as they attempt to offer a more curated service and make their apps more convenient. Uber said it has also tied up with federal healthcare programs such as Managed Medicaid and Medicare Advantage, and would begin accepting relevant waiver payments on both Uber and Uber Eats in 2024.

Persons: Eric Gaillard, OpenAI, Uber, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Technologies, Bloomberg News, Assistance, Thomson Locations: Nice, France, Bengaluru

☆ Tesla courts interest from Turkey to India for next gigafactory
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

The Tesla factory is seen in Fremont, California, U.S. June 22, 2018. Hours later, the Wall Street Journal reported that Saudi Arabia was in early talks with Tesla to set up factories in the Kingdom. Musk said in May that Tesla would probably pick a location for a new factory by the end of 2023. Turkey: Turkey's communications directorate cited Musk as saying that the country was among the most important candidates for its next factory. India: Tesla has expressed interest in building a factory in the country, to produce low-cost electric vehicles (EVs) for the local market and for export.

Persons: Stephen Lam, Elon Musk, Tayyip Erdogan, Musk, Tesla, Jaspreet Singh, Arsheeya, Devika Organizations: REUTERS, Monday, Wall Street Journal, Democratic, Thomson Locations: Fremont , California, U.S, Saudi Arabia, Kingdom, Saudi, Democratic Republic of Congo, Turkey, India, Mexico, Mexico's, Nuevo Leon, Bengaluru

☆ Alphabet lays off hundreds from global recruitment team
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Benoit Tessier Acquire Licensing RightsSept 13 (Reuters) - Google parent Alphabet (GOOGL.O) is laying off employees from its global recruiting team as the tech giant continues to slow hiring, it said on Wednesday. The company's decision to let go of a few hundred employees is not part of a wide-scale layoff and will retain a significant majority of the team for hiring critical roles. It will also help the workers search for roles within the company and elsewhere. California-based Alphabet cut about 12,000 jobs in January, reducing its workforce by 6%. Reporting by Arsheeya Bajwa and Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, sprees, Arsheeya Bajwa, Akash Sriram, Devika Organizations: Google, Viva Technology, Porte de, REUTERS, Tech, Microsoft, Reuters, Thomson Locations: Porte, Paris, France, sprees . California, U.S, Bengaluru

☆ SpaceX's Starlink falls short of growth expectations despite revenue surge - WSJ
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Nacho Doce/File Photo Acquire Licensing RightsSept 13 (Reuters) - SpaceX's satellite internet venture Starlink posted a more than six-fold surge in revenue last year to $1.4 billion, but fell short of targets set by CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing documents. The company had in a 2015 presentation projected the division would generate almost $12 billion in revenue and $7 billion in operating profit in 2022, the report said. Starlink has been in the spotlight since last year as it helps provide Ukraine with satellite communications key to its war effort against Russia. Musk had said in 2021, before the Ukraine war, that SpaceX will list Starlink when its cash flow is reasonably predictable. The Journal reported last month that SpaceX's surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses.

Persons: Elon Musk, Nacho, Starlink, Musk, Arsheeya Organizations: SpaceX, Mobile World Congress, REUTERS, Wall Street, Russia, U.S . Department of Defense, Thomson Locations: Barcelona, Spain, Ukraine, Bengaluru

☆ Mobileye appoints insider Rojansky as CFO
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The listing of Mobileye Global Inc., the self-driving unit of chip maker Intel Corp, is seen on a jumbotron outside the Nasdaq MarketSite at Times Square in New York City, U.S., October 26, 2022. REUTERS/Shannon Stapleton/File photo Acquire Licensing RightsSept 11 (Reuters) - Self-driving technology maker Mobileye Global (MBLY.O) named insider Moran Rojansky as its chief financial officer on Monday, succeeding Anat Heller who left the role in June for personal reasons. Rojansky, 43, has been with the Israel-based company since 2016 and most recently served as its interim finance chief. Heller will continue to serve as an adviser to the company's finance department and senior management, Mobileye said. The company, spun off from Intel (INTC.O) in October, has partnerships with prominent automakers including Volkswagen (VOWG_p.DE) and Porsche (PSHG_p.DE).

Persons: Shannon Stapleton, Moran Rojansky, Anat Heller, Heller, Mobileye, Arsheeya, Maju Samuel Organizations: Mobileye Global Inc, Intel Corp, Nasdaq, REUTERS, Mobileye, PricewaterhouseCoopers, Intel, Volkswagen, Porsche, Polestar, Thomson Locations: New York City, U.S, Israel, Mobileye, Bengaluru

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