DIRS.INFO The most relevant business & tech news

☆ India's Adani mulls bidding for Anil Ambani's bankrupt coal plants, Bloomberg reports
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Indian billionaire Gautam Adani is considering a bid for the bankrupt coal-fired power plants belonging to industrialist Anil Ambani, Bloomberg News reported on Tuesday, citing people familiar with the matter. Ambani's Reliance Power Ltd (RPOL.NS) will also likely make an offer to win back control of the firm, the report added. Last week, Adani Green Energy Ltd (ADNA.NS) approved raising 123 billion rupees ($1.49 billion), while two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprises (ADEL.NS) - had in May outlined plans to raise funds totalling $2.57 billion. Adani's bids are aimed at strengthening the company's growing portfolio of coal power projects, the report said. Adani Enterprises or Reliance Power did not immediately respond to a Reuters' request for comment.

Persons: Gautam Adani, Anil Ambani, Ambani, Adani, Jose Joseph, Kashish Tandon, Sohini Goswami Organizations: Bloomberg, Vidarbha Industries Power Ltd, Ambani's Reliance Power, Green Energy Ltd, Adani Enterprises, Hindenburg Research, Reliance, Thomson Locations: Vidarbha, Nagpur, Maharashtra, Bengaluru

☆ HDFC to merge into HDFC Bank on July 1, create India’s financial behemoth
▼ + stars: | 2023-06-30 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

Both the companies have set July 13 as the "record date" to swap HDFC's shares with HDFC Bank's stock for its shareholders, HDFC and HDFC Bank said in separate exchange filings on Friday. With the share swap, HDFC Bank will become one of the world's top 10 banks in terms of market capitalisation, as per Refinitiv data. After the merger, HDFC Bank has no identified promoter. With the merger, HDFC Bank's total loan book will be over 22 trillion rupees, behind only that of State Bank of India (SBI.NS), the country’s largest lender. Both the entities have set July 12 as a record date for transfer of non-convertible debentures of HDFC in the name of HDFC Bank.

Persons: Sashidhar Jagdishan, HDFC's Keki Mistry, Siddhi Nayak, Jose Joseph, Shilpi Majumdar, Maju Samuel Organizations: Housing Development Finance Corp, HDFC Bank, HDFC, State Bank of India, Reuters, Siddhi, Thomson Locations: Renu, India, HDFC

☆ Indonesia's Java escapes 6.4 magnitude quake with few casualties, light damage
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

Jakarta, June 30 (Reuters) - A magnitude 6.4 earthquake struck off the Indonesian island of Java on Friday evening, injuring at least 10 people, while one person died of suspected heart attack during the quake, the country's disaster mitigation agency (BNPB) said. The tremor caused minor damage to hundreds of houses, some offices, health and education facilities scattered in the region of Yogyakarta and Central Java province, the agency spokesperson Abdul Muhari told Reuters Saturday. Indonesia's geophysics agency (BMKG) said the quake, which hit at a depth of 25 km (15 miles), was felt in several cities in the region of Yogyakarta as well as east and central Java, Indonesia's most populous island. No tsunami warning was issued. Reporting by Jose Joseph in Bengaluru and Ananda Teresia, Stefanno Sulaiman in Jakarta; editing by Mark Heinrich & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdul Muhari, Jose Joseph, Ananda Teresia, Stefanno Sulaiman, Mark Heinrich, Simon Cameron, Moore Organizations: Reuters, Thomson Locations: Jakarta, Java, Yogyakarta, Central Java, Indonesia, Southeast Asia, Bengaluru, Ananda

☆ Adobe's $20 bln deal to acquire Figma under threat from EU regulators - FT
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - European antitrust regulators are preparing to launch a formal investigation into software giant Adobe's (ADBE.O) $20 billion buyout deal for cloud-based designer platform Figma later this year, the Financial Times reported on Tuesday. EU authorities plan to push forward with a detailed investigation, over anti-competition concerns, which could take many months and may ultimately derail the deal altogether, FT said, citing people with knowledge of the move. These moves underline global regulators' worries that large tech firms acquiring smaller innovative rivals could throttle competition. Adobe is in the preliminary phase of the regulatory process and having constructive discussions with British, EU, and U.S. regulators about the deal while Figma looks forward to continued conversations with regulators, the companies said in separate emailed statements to Reuters. EU regulators have earlier said that Adobe would need to secure antitrust approval for the Figma deal even though the deal falls short of the bloc's turnover threshold for a review.

Persons: Lavanya Ahire, Anusha S, Jose Joseph, Nivedita Bhattacharjee, Rashmi, Dhanya Ann Thoppil Organizations: Financial Times, Adobe, EU, Reuters, Bloomberg, U.S . Justice Department, Thomson Locations: U.S, Bengaluru

☆ China plans a new military training facility in Cuba, Wall Street Journal reports
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - China and Cuba are negotiating to establish a new joint military training facility on the island, sparking alarm in the U.S. that it could lead to the stationing of Chinese troops and other security operations just 100 miles off Florida's coast, the Wall Street Journal reported on Tuesday citing current and former U.S officials. Reporting by Jose Joseph in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Joseph, Muralikumar Organizations: Wall Street, Thomson Locations: China, Cuba, U.S, Bengaluru

The agreement, disclosed in court papers filed late on Friday, still requires the approval of the federal judge overseeing the litigation. To make certain that U.S. customer assets do not go offshore, the agreement allows only Binance.US employees access to these assets. The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets. "Given that Changpeng Zhao and Binance have control of the platforms' customers' assets and have been able to commingle customer assets or divert customer assets as they please ... these prohibitions are essential to protecting investor assets," Gurbir Grewal, director of the SEC's enforcement division, said in the statement. The U.S. affiliate of Binance halted dollar deposits last week and gave customers a deadline of June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets.

Persons: Binance, Changpeng Zhao, Binance.US, Zhao, Gurbir Grewal, Baranjot Kaur, Akanksha, Jose Joseph, Will Dunham, Stephen Coates, Louise Heavens Organizations: U.S . Securities, Exchange Commission, SEC, Binance Holdings, Services, U.S, Thomson Locations: United States, Bengaluru

☆ Militants linked to Islamic State kill 25 in attack on Ugandan school - police
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

June 17 (Reuters) - Militants linked to Islamic State killed 25 people in a terrorist attack on a school in western Uganda near the border with the Democratic Republic of Congo, Ugandan police said on Saturday. "So far 25 bodies have been recovered from the school and transferred to Bwera Hospital. Also recovered are eight victims, who remain in critical condition at Bwera Hospital," Ugandan police said on Twitter. Soldiers were pursuing the attackers who fled towards Virunga National Park in the Democratic Republic of Congo, police added. In April, the ADF attacked a village in eastern Democratic Republic of Congo, killing at least 20 people.

Persons: Jose Joseph, George Obulutsa, William Mallard Organizations: Islamic State, Democratic, Allied Democratic Forces, Islamic, Bwera Hospital, Bwera, Twitter, Police, ADF, Thomson Locations: Uganda, Democratic Republic of Congo, Ugandan, Congo, Islamic State, Mpondwe, Bengaluru, Nairobi

☆ Militants kill 37, abduct six others in attack on Ugandan school
▼ + stars: | 2023-06-17 | by ( Elias Biryabarema | ) www.reuters.com time to read: +3 min

Military personnel found the bodies of the dead when they arrived at the school, defence spokesperson Felix Kulayigye said in a statement. The attackers, from the rebel group Allied Democratic Forces (ADF), fled towards Virunga National Park in Congo, police said. Police said eight other people were in hospital with critical injuries after the attack at the Lhubirira Secondary School in Mpondwe. He said an unidentified youth had gone to the school to check its layout before the attack. In April, the ADF attacked a village in eastern Democratic Republic of Congo, killing at least 20 people.

Persons: Felix Kulayigye, Dick Olum, Olum, Yoweri Museveni, Elias Biryabarema, Jose Joseph, George Obulutsa, Fiston Mahamba, William Mallard, Frances Kerry Organizations: Islamic State Military, Islamic State, Democratic, Military, Twitter, Allied Democratic Forces, Police, Secondary, Privately, NTV Uganda, Vision, New Vision, Mpondwe, Daily Monitor, ADF, Thomson Locations: KAMPALA, Uganda, Democratic Republic of Congo, Congo, Mpondwe, Bengaluru, Nairobi, Fiston, Goma

☆ Magnitude 6 earthquake strikes Tonga region
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: 1 min

June 16 (Reuters) - An earthquake of magnitude 6 struck the Tonga region on Friday, the European Mediterranean Seismological Centre (EMSC) said. The quake was at a depth of 100 km (62 miles), EMSC said. Reporting by Jose Joseph in Bengaluru; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

Persons: EMSC, Jose Joseph, Andrew Cawthorne Organizations: Mediterranean Seismological, Thomson Locations: Tonga, Bengaluru

☆ Japan in talks to provide artillery shells to U.S. to help Ukraine -WSJ
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

June 15 (Reuters) - Japan is in talks to provide artillery shells to the United States to bolster stocks for Ukraine's counteroffensive against Russia, the Wall Street Journal said on Thursday. The Asian nation is considering supplying 155-mm. artillery shells under a 2016 pact to share ammunition as part of its long-standing security alliance with the United States, the paper added, citing people familiar with the matter. Reporting by Jose Joseph in Bengaluru; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Joseph, Clarence Fernandez Organizations: Wall Street, Thomson Locations: Japan, United States, Russia, Bengaluru

☆ Odey offloads stake in UK Retailer AO, Sky News reports
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +1 min

June 10 (Reuters) - Odey Asset Management has sold its 19% stake in UK-based retailer AO World Plc (AO.L) to Frasers Group (FRAS.L), Sky News reported on Saturday. Frasers Group bought the stake for 75 million pounds ($94.27 million), the report said. Odey Asset Management, AO and Frasers Group did not immediately respond to a request for comment by Reuters. On Friday, asset managers Schroders Plc (SDR.L) and Canada Life moved to cut back their dealings with Odey Asset Management, citing allegations of sexual misconduct by its founder, Crispin Odey, that were published by the Financial Times and Tortoise Media a day earlier. Odey Asset Management told investors in a letter dated June 8, which was seen by Reuters, that it "does not recognise the picture of the firm that has been painted" by the allegations.

Persons: Crispin Odey, Goldman Sachs, Morgan Stanley, Jose Joseph, Urvi, Alex Richardson, Helen Popper Our Organizations: Odey, Management, Frasers, Sky News, Frasers Group, Reuters, Schroders, Odey Asset Management, Financial Times, Tortoise Media, JPMorgan, Thomson Locations: Canada, Bengaluru

[1/5] A Somali police officer uses his cell phone inside the rubble of the Pearl Beach Restaurant following an attack by Al Shabaab militants at the Liido beach in Mogadishu, Somalia June 10, 2023. REUTERS/Feisal OmarMOGADISHU, June 9 (Reuters) - Nine people were killed in an attack claimed by al Shabaab Islamist militants at an upmarket restaurant in the Somali capital Mogadishu on Friday night, police said. Those killed at the popular Pearl restaurant were six civilians and three soldiers, police said in a statement. Al Qaeda-linked al Shabaab said it was behind the attack. Al Shabaab controlled a vast area of Somalia before being pushed back in government counteroffensives since last year.

Persons: Al Shabaab, Omar MOGADISHU, al, Abdikadir Abdirahman, Hussein Mohamed, Shabaab, Abdi Sheikh, Feisal Omar, Jose Joseph, George Obulutsa, William Mallard, Frances Kerry Organizations: Pearl, REUTERS, Security, Somali National News Agency, Twitter, Mujahideen, Thomson Locations: Somali, Mogadishu, Somalia, al Shabaab, Shabaab, Lido Beach, Al Qaeda

☆ StanChart trimming roles as part of cost cuts - Bloomberg News
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Standard Chartered (STAN.L) is starting to lay off employees across Singapore, London, and Hong Kong hubs as part of an existing plan to cut costs by more than $1 billion through 2024, Bloomberg News reported on Wednesday. The British bank had previously said that it aims savings of $1.3 billion under a cost-efficiency program. "It is part of normal business activity to review our role requirements on an ongoing basis across the bank," a spokesperson for the British lender told Reuters in an emailed statement. Goldman Sachs is expected to reduce just under 250 jobs in the coming weeks, while JPMorgan Chase & Co (JPM.N) is cutting about 500 employees, Reuters reported in May. Reporting by Mrinmay Dey and Jose Joseph in Bengaluru; Editing by Subhranshu Sahu and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Mrinmay Dey, Jose Joseph, Subhranshu Sahu, Dhanya Ann Thoppil Organizations: Bloomberg, Reuters, JPMorgan Chase &, Chartered, Jordan Investment Bank, Thomson Locations: Singapore, London, Hong Kong, Africa, Bengaluru

☆ Australia talks tough on EU trade - FT
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Australia's trade minister Don Farrell has warned the European Union that he will not sign on a trade deal unless the bloc opens its market to more Australian farm products, the Financial Times reported on Wednesday. Farrell said an agreement with the bloc was possible only if the EU backed down on its demands not to expose its farmers to competition, the report said. In May when China's imports from major trade partners including the United States, Japan and South Korea shrank, its purchases from Australia rose 5.4%, according to Reuters' calculations based on Beijing's customs data. Farrell on Tuesday told Sky News that the two countries have set out a pathway to resolve all remaining trade restrictions during a recent meeting in Beijing. Reporting by Jose Joseph in Bengaluru and Ellen Zhang in Beijing; Editing by Kim Coghill and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Don Farrell, Farrell, Jose Joseph, Ellen Zhang, Kim Coghill, Chizu Organizations: European Union, Financial Times, Australia, Sky News, Thomson Locations: EU, Australia, China, United States, Japan, South Korea, Beijing, Bengaluru

☆ JPMorgan's Jamie Dimon to meet with group of US House Democrats - Bloomberg News
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon will meet privately with a group of moderate House Democrats on Tuesday, with banking and the U.S. economy on the agenda, Bloomberg News reported on Monday citing people familiar with the matter. Dimon will meet with the New Democratic Coalition in a closed-door lunch, the report said. JPMorgan and members of New Democratic Coalition did not immediately respond to Reuters requests for comment outside business hours. Last month, Bloomberg reported that Dimon along with other banking executives met with Senate Majority Leader Chuck Schumer, a New York Democrat, to discuss the federal debt limit. Reporting by Jose Joseph in Bengaluru; Editing by Jacqueline Wong & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Jamie Dimon, Dimon, Chuck Schumer, Jose Joseph, Jacqueline Wong, Simon Cameron, Moore Organizations: JPMorgan Chase &, Democrats, Bloomberg, New Democratic Coalition, JPMorgan, New, New York Democrat, Thomson Locations: U.S, New York, Bengaluru

☆ Silver Lake acquires minority stake in TeamSystem for $660 million
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

May 19 (Reuters) - Italian cloud software maker TeamSystem said on Friday that private equity firm Silver Lake has agreed to acquire a minority stake in the company from Hellman & Friedman (H&F). The investment is worth 600 million euros ($660.48 million), TeamSystem said in a statement, adding that H&F will remain the majority shareholder after the transaction closes. TeamSystem, founded in 1979, provides accounting, payroll and business management software for small and medium-sized enterprises. Reuters reported in January that H&F was weighing options for TeamSystem including a sale of a minority stake in the business which could be valued at several billion euros. TeamSystem's management reinvested in the company as part of the 2021 transaction, and private-equity firm Hg held a minority stake.

☆ India renews process for $10 bln semiconductor incentive scheme -Bloomberg News
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: 1 min

May 10 (Reuters) - India plans to reopen the application process for $10 billion in incentives and assistance intended to encourage the manufacturing of chips in the country, Bloomberg News reported on Wednesday citing people familiar with the matter. Reporting by Jose Joseph in Bengaluru; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Scope Ratings places US credit ratings under review for downgrade
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Scope Ratings on Friday placed the United States of America's AA long-term issuer and senior unsecured debt ratings in local and foreign currency under review for a possible downgrade. The review for ratings downgrade reflects the longer-run risk associated with misuse of the debt-ceiling instrument, Scope said adding that the U.S. government faced elevated risks during recurrent debt-ceiling crises. "Recurrent debt-ceiling crises have resulted in phases of debt repayment distress for the federal government and dependence on last-minute congressional action to ensure repayment of the United States’ debt in full and on time", Scope said in a statement. Scope also placed United States' S-1+ short-term issuer ratings in local and foreign currency under review for downgrade. Reporting by Jose Joseph in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Companies Binance Holdings Ltd FollowMay 5 (Reuters) - The U.S. Justice Department is investigating whether Binance Holdings was illegally used to let Russians skirt U.S. sanctions and move money through the cryptocurrency exchange, Bloomberg News reported on Friday, citing people familiar with the matter. Regulators globally have long called for tighter controls on crypto exchanges including Binance, the world's largest, to prevent illegal activities - from money laundering to the financing of terrorism. The recent seizures by Israel's NBCTF also highlight how governments are targeting crypto companies in their efforts to prevent illegal activity. Binance and the DoJ did not immediately respond to Reuters' requests for comment. Reporting by Jose Joseph in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ TSMC seeks up to $15 bln from US but objects to certain conditions- WSJ
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

April 19 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) is pushing back on some of the conditions the United States has attached to chip-factory subsidies as it seeks up to $15 billion from the U.S. government, the Wall Street Journal reported on Wednesday. TSMC, which in December more than tripled its planned investment at its new Arizona plant to $40 billion, is concerned about rules that could require it to share profits from the factories and provide detailed information about operations, WSJ reported, citing people familiar with the matter. TSMC declined to comment when contacted by Reuters. Reporting by Jose Joseph in Bengaluru; Editing by Varun H K and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon services AWS and Alexa back up after brief outage
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

April 16 (Reuters) - Amazon.com Inc (AMZN.O) said its cloud computing division Amazon Web Services (AWS) and its voice assistant service Alexa were back online after a brief outage on Sunday. Alexa was down for thousands of users in the United States, according to Downdetector, while hundreds of users reported issues with accessing AWS. Users also reported issues accessing Amazon's mobile app. Alexa is now operating normally, an Amazon spokesperson told Reuters in an email. AWS on its website said services have recovered from an issue in which AWS users were unable to complete the account signup process and were receiving error messages regarding their billing console.

☆ Amazon's AWS says it is investigating issues with signup
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

April 16 (Reuters) - Amazon.com's (AMZN.O) cloud service division Amazon Web Services (AWS) said on Sunday it was investigating an issue where users attempting to access AWS signup were receiving error messages. Hundreds of users reported issues with accessing Amazon Web Services on Sunday, according to outage-tracking website Downdetector.com. Amazon's voice assistant Alexa was also down for thousands of users in the United States, according to Downdetector.com. More than 15,000 users reported issues with Alexa at the peak of disruption, Downdetector data showed. Users also reported issues accessing Amazon's mobile app.

☆ Amazon's Alexa down for thousands of users, Downdetector says
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: 1 min

April 16 (Reuters) - Amazon.com's (AMZN.O) voice assistant Alexa was down for thousands of users in the United States on Sunday, according to outage-tracking website Downdetector.com. More than 9,000 users reported issues with Alexa. Users also reported issues accessing Amazon's mobile app. Downdetector tracks outages by collating status reports from several sources, including user-submitted errors on its platform. Reporting by Jose Joseph in Bengaluru; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Satellite company SES confirms tie-up talks with Intelsat
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 29 (Reuters) - Satellite company SES (SESFg.LU) confirmed on Wednesday that it was in talks with U.S. rival Intelsat over a possible combination of their businesses that would create an industry giant. "In response to rumours in the market, SES S.A. confirms that the company has engaged in discussions regarding a possible combination with Intelsat," SES said. SES is aiming to reach an agreement with Intelsat as soon as the next few weeks, Bloomberg said, citing sources. Merger talks between the two signal further consolidation in the rapidly changing satellite Internet industry to challenge the likes of Elon Musk-owned SpaceX's Starlink and Amazon.com's (AMZN.O) Project Kuiper. The Paris-listed shares of Luxembourg-based SES (SESFg.LU), rose 3.4% on the report of the two sides nearing a deal, according to traders.

☆ US weighs new fund to backstop deposits if more banks fail, Bloomberg News says
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 11 (Reuters) - The U.S. Federal Reserve and the Federal Deposit Insurance Corp are weighing the creation of a fund that would allow regulators to backstop more deposits at banks that run into trouble in the wake of Silicon Valley Bank's collapse, Bloomberg News reported on Saturday. The new vehicle is part of the agency's contingency planning as panic spreads about the health of banks focused on the venture capital and startup communities, the report added. Silicon Valley Bank imploded after depositors, concerned about the lender's financial health, rushed to withdraw their deposits. The frenetic two-day run on the bank blindsided observers and stunned markets, wiping out more than $100 billion in market value for U.S. banks. Reporting by Jose Joseph in Bengaluru; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Jose Joseph"

25 mentions found