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☆ Truist in talks to sell insurance business for $10 bln - Semafor
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - Truist Financial (TFC.N) is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter. Stone Point bought a 20% stake in the unit, known as Truist Insurance Holdings, in April in a deal that valued the business at $14.75 billion. When the transaction was unveiled in February, before the industry turmoil, Truist said it would continue to own 80% of the unit. The talks with Stone Point are ongoing, according to the Semafor report, which added that a deal may hinge on Stone Point's ability to scrounge up enough debt. Truist Financial declined to comment on the Semafor report, while Truist Insurance and Stone Point did not immediately respond to Reuters requests for comment.

Persons: Semafor, Truist, Shivani Tanna, Niket, Maju Samuel, Shounak Organizations: Truist, Truist Insurance Holdings, Truist Insurance, Thomson Locations: U.S, dealmaking, Bengaluru

☆ UBS, Credit Suisse face wider US probe over Russia sanctions -Bloomberg News
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Logos of Swiss banks UBS and Credit Suisse are seen on an office building in Zurich, Switzerland March 19, 2023. UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year. A full-scale investigation by the Department of Justice focusing mainly on Credit Suisse and potential sanctions violations was now underway, added the Bloomberg report, citing people familiar with the matter. "Credit Suisse has conducted a review of these issues, the UK and French aspects of which have been closed, and is continuing to cooperate with the authorities," UBS added. The Swiss bank has also adjusted its valuation of Credit Suisse by $3 billion to cover outflows related to contingent liabilities such as law suits.

Persons: Denis Balibouse, JP Morgan, Shivani Tanna, John Revill, Krishna Chandra Eluri, Emelia, Jane Merriman, Alexander Smith Organizations: UBS, Credit Suisse, REUTERS, Rights, U.S . Department of Justice, Bloomberg, Department of Justice, Justice, United, European Union, Suisse, DOJ, Credit, Thomson Locations: Zurich, Switzerland, United Nations, United States, Switzerland's, Britain, Netherlands, France, Belgium, Swiss, Ukraine, Crimea, Bengaluru

☆ Tesla to face EU anti-subsidy probe over China exports- FT
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

Tesla's Model 3 is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowSept 26 (Reuters) - Tesla (TSLA.O) and European carmakers that export from China to the EU will be part of the bloc's probe into whether the country's electric vehicles industry is receiving unfair subsidies, the Financial Times reported on Tuesday, citing Brussels' most senior trade official. Reporting by Shivani Tanna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Angelika Warmuth, Shivani Tanna, Shinjini Organizations: REUTERS, Financial Times, Thomson Locations: Munich, Germany, China, Brussels, Bengaluru

☆ India's Byju's to merge businesses, slash around 5,500 jobs – ET
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

People walk past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsSept 26 (Reuters) - Indian education firm Byju's plans to cut around 5,500 jobs to decrease costs amid a restructuring of its business, the Economic Times reported on Tuesday. The firm, valued at $22 billion last year, has experienced a series of business setbacks, including its auditor and board members quitting. In the last few months, it has also been negotiating the repayment of a $1.2 billion loan. (This story has been corrected to change Arjun Mohan's designation to say CEO of Byju's India business, not the company, in paragraph 2)Reporting by Shivani Tanna in Bengaluru; Editing by Pooja Desai私たちの行動規範：トムソン・ロイター「信頼の原則」

Persons: Adnan Abidi, Arjun Mohan, Byju's, Arjun, Shivani Tanna, Pooja Desai 私 Organizations: Education Technology, REUTERS, Economic Times Locations: New Delhi, India, Bengaluru

☆ DirecTV to temporarily restore Nexstar-owned stations
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

A DirecTV satellite dish is seen on a residential home in Encinitas, California November 5, 2014. REUTERS/Mike Blake Acquire Licensing RightsSept 17 (Reuters) - DirecTV and Nexstar (NXST.O) have agreed to temporarily return the signals of the Nexstar-owned stations and national cable news network NewsNation to DirecTV, DirecTV Stream and U-verse, the companies said in a joint statement on Sunday. In July, satellite provider DirecTV removed TV station owner Nexstar's network and local community programming from its satellite, cable and streaming systems as they failed to reach a new distribution agreement. Nexstar, the largest local TV station owner in the U.S., had previously said that DirecTV rejected its offer to extend the current distribution agreement to Oct. 31, affecting its markets in Los Angeles, Chicago, Philadelphia, San Francisco and Denver. Reporting by Kanjyik Ghosh and Shivani Tanna in Bengaluru; Editing by Alex Richardson and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Kanjyik Ghosh, Alex Richardson, Jane Merriman Organizations: DirecTV, REUTERS, Nexstar, Thomson Locations: Encinitas , California, U.S, Los Angeles, Chicago, Philadelphia, San Francisco, Denver, Bengaluru

☆ Ferrari renews partnership with Puma
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: 1 min

Sept 17 (Reuters) - Italian sportscar maker Ferrari (RACE.MI) on Sunday said that its racing division has renewed a partnership with German sports goods maker Puma (PUMG.DE). Scuderia Ferrari has renewed its multi-year partnership with Puma, which will become its premium partner starting from next year, the company said, without mentioning the deal's value. "In the next years PUMA will also continue to be the licensing partner for Ferrari-branded products and the supplier of F1 team and race wear for Ferrari," it added. The renewal of the partnership reinforces collaboration between the two companies which started in 2005 when Puma agreed to provide Ferrari's Formula One team with sportswear, shoes and accessories. Reporting by Shivani Tanna in Bengaluru Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: PUMA, Shivani Tanna, Tomasz Janowski Organizations: Ferrari, Puma, Thomson Locations: Italian, Bengaluru

☆ Foxconn aims to double jobs, investment in India over next 12 months
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsSept 17 (Reuters) - Apple (AAPL.O) supplier Foxconn (2317.TW) aims to double its workforce and investment in India by next year, a company executive said on Sunday. Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people. In August, the state of Karnataka said Foxconn will invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment. The company's Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: "several billion dollars in investment is only a beginning".

Persons: Ann Wang, V Lee, Narendra Modi's, Foxconn, Liu Young, Shivani Tanna, Susan Fenton Organizations: REUTERS, Indian, Thomson Locations: Taipei, Taiwan, India, China, Tamil Nadu, Karnataka, Bengaluru

☆ India imposes anti-dumping duty on some Chinese steel for 5 years
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

China Daily via REUTERS Acquire Licensing RightsSept 11 (Reuters) - India on Monday imposed an anti-dumping duty on some Chinese steel for five years, according to a government notification. On Sept 4, India's steel secretary, Nagendra Nath Sinha, said New Delhi was monitoring the steel imports situation after the steel industry raised concerns over potential dumping by Chinese sellers. During April-July, China was the second biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year earlier. In all, India imported 2 million metric tons of finished steel in the period, the highest since 2020 and up 23% from a year earlier. China, the world's top steel producer, exported mostly cold- rolled coil or sheets to India.

Persons: Nagendra Nath Sinha, Shivani Tanna, Mayank Bhardwaj, Chris Reese, Leslie Adler Organizations: REUTERS Acquire, Thomson Locations: Lianyungang, Jiangsu province, China, India, New Delhi, South Korea

☆ Teardown of Huawei's new phone shows China's chip breakthrough
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. Huawei's Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday. Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside. Buyers of the phone in China have been posting tear-down videos and sharing speed tests on social media that suggest the Mate 60 Pro is capable of download speeds exceeding those of top line 5G phones.

Persons: David Kirton, Huawei's, TechInsights, Gina Raimondo, Dan Hutcheson, " Raimondo, Shivani Tanna, Max A, Sandra Maler Cherney, Shilpi Majumdar Organizations: Huawei, REUTERS, Huawei Technologies, HK, Semiconductor Manufacturing International Corp, Reuters, Bloomberg News, SMIC, U.S . Commerce, Thomson Locations: Shenzhen, Guangdong province, China, Kirin, U.S, SMIC, Bengaluru, Max, San Francisco

☆ Alibaba's cloud division eyes state firms for up to $3 bln fundraising- Bloomberg News
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 4 (Reuters) - Alibaba Group Holding Ltd's (9988.HK) cloud division is weighing raising funds via a private round from Chinese state-owned enterprises ahead of the business' market debut in Hong Kong, Bloomberg News reported on Monday. The tech giant is working with advisers on a potential fundraise by its Cloud Intelligence unit that could mop up about 10-20 billion yuan ($1.38-$2.75 billion), the report said, citing people with knowledge of the matter. Earlier this year, Alibaba announced plans to restructure into six units following a two-year regulatory crackdown on China's tech sector. It approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders, aiming to complete the public listing within the next 12 months.

Persons: Dado Ruvic, Alibaba, Shivani Tanna, Dhanya Ann Thoppil Organizations: REUTERS, Bloomberg, Cloud Intelligence, Cloud Intelligence Group, Ant, Thomson Locations: HK, Hong Kong, Alibaba, Bengaluru

☆ Canada's competition bureau ordered to pay nearly $10 mln to Rogers, Shaw
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

The Rogers Building, the green-topped corporate campus of Canadian media conglomerate Rogers Communications is seen in downtown Toronto, Ontario, Canada July 9, 2022. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsCompanies Rogers Communications Inc FollowAug 29 (Reuters) - Canada's merger court asked the competition bureau to pay about C$13 million ($9.58 million) to Rogers Communications (RCIb.TO) and Shaw Communications for the lengthy court battle after its failed attempt to block the telecom firms' C$20-billion merger. The Competition Tribunal, Canada's merger court, in a ruling dated Aug. 28 said the Commissioner of Competition Matthew Boswell's approach to block the deal was "unreasonable". The Rogers-Shaw merger had faced intense opposition from Canada's antitrust regulator whose efforts to block it were rejected by the Competition Tribunal and a Canadian court. In March, Canada approved Rogers' buyout of Shaw Communications after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.

Persons: Chris Helgren, Matthew Boswell's, Boswell, Rogers, Shaw, Nilutpal Timsina, Sherry Jacob, Phillips Organizations: Rogers, Rogers Communications, REUTERS, Shaw Communications, Competition, Thomson Locations: Toronto, Ontario, Canada, Bengaluru

☆ 'Tragic' crash injures 23 US Marines in Australia exercises
▼ + stars: | 2023-08-27 | by ( Samuel Mckeith | ) www.reuters.com time to read: +2 min

SYDNEY, Aug 27 (Reuters) - Twenty-three U.S. Marines were injured during military exercises in northern Australia on Sunday, officials said, in a helicopter crash that Prime Minister Anthony Albanese called "tragic". One marine was being operated on at Royal Darwin hospital and four others were at the hospital, said Northern Territory Chief Minister Natasha Fyles. Some people are critically injured," Fyles told the news conference, adding there was a "wide range" of injuries. Australian personnel were not involved in the crash that occurred during Exercise Predator's Run 2023, Albanese said. Four Australian soldiers were killed last month during large bilateral exercises when their helicopter crashed into the ocean off the coast of Queensland.

Persons: Anthony Albanese, Michael Murphy, Murphy, Natasha Fyles, Fyles, Albanese, Sam McKeith, William Mallard Organizations: SYDNEY, Marines, Northern Territory Police, Australian Defence Force, U.S . Marines, Royal Darwin, The U.S . Defense, Thomson Locations: Australia, Darwin, Northern, Western Australia, The, U.S, China, Queensland, Sydney, Bengaluru

☆ Bankrupt crypto exchange FTX picks Galaxy to manage its digital assets
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings made late on Wednesday. Hedging of bitcoin and ether will provide a means to lessen FTX's exposure to adverse price movements before their sale, the filing said. Galaxy, owned by billionaire investor Mike Novogratz, will also help "stake" FTX's crypto, a process where crypto is lent to validate blockchain transactions, earning interest in the process. FTX filed for bankruptcy in November 2022 in the wake of claims that the company misused and lost billions of dollars worth of customers' crypto deposits.

Persons: Dado Ruvic, FTX, Mike Novogratz, Brian Glueckstein, Shivani Tanna, Janane Organizations: REUTERS, Galaxy, Asset Management, Thomson Locations: Wilmington , Delaware, Bengaluru

☆ US CDC tracks new lineage of virus that causes COVID
▼ + stars: | 2023-08-18 | by ( Deena Beasley | ) www.reuters.com time to read: +2 min

The lineage is named BA.2.86, and has been detected in the United States, Denmark and Israel, the CDC said in a post on messaging platform X. "As we learn more about BA.2.86, CDC's advice on protecting yourself from COVID-19 remains the same," the agency said. The WHO said that, so far, only a few sequences of the variant have been reported from a handful of countries. The new lineage, which has 36 mutations from the currently-dominant XXB.1.5 COVID variant "harkens back to an earlier branch" of the virus, explained Dr. S. Wesley Long, medical director of diagnostic microbiology at Houston Methodist. https://slides.com/jbloom/new_2nd_gen_ba2_variant?ftag=YHF4eb9d17#/12The Omicron subvariant XBB.1.5 is the strain targeted by vaccines in upcoming COVID booster shots.

Persons: Wesley Long, Jesse Bloom, Fred Hutch, Dr, Long, Shivani Tanna, Himani Sarkar, Simon Cameron, Moore Organizations: Science, Trinity College, Reuters, U.S . Centers for Disease Control, CDC, World Health Organization, WHO, Houston Methodist, Fred Hutch Cancer Center, Thomson Locations: Dublin, Wuhan, United States, Denmark, Israel, Bengaluru

Senator Brian Schatz of Hawaii told MSNBC. In a late evening statement, Maui County said that the death toll had risen to 80. [1/9]A view of damage cause by wildfires in Lahaina, Maui, Hawaii, U.S., in this undated picture posted on August 11, 2023. County officials began allowing Lahaina residents back to their homes on Friday, even though much of Maui's western side remained without power and water. "Hot spots still exist and wearing a mask and gloves is advised," Maui County said in a statement.

Persons: Nobody, Brian Schatz, Josh Green, Green, Fire Chief Bradford Ventura, Hawaii Josh Green, Richard Bissen, NBC's, Andrew Rumbach, Marco Garcia, Mike Blake, Brendan O'Brien, Jonathan Allen, Rich McKay, Andrew Hay, Daniel Trotta, Dan Whitcomb, Doyinsola, Joseph Ax, Frank McGurty, Jonathan Oatis, Sandra Maler, Frances Kerry Organizations: Hawaii, U.S, MSNBC, CNN, Fire Chief, REUTERS, Facebook, Urban Institute, University of Hawaii, Police, Thomson Locations: MAALAEA, Hawaii, Maui, Lahaina, United States, Maui County, U.S, Kula, Washington

☆ Winning Mega Millions ticket worth $1.58 bln sold in Florida
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Aug 9 (Reuters) - One lucky winner was in possession of a Mega Millions ticket worth a cool $1.58 billion, the largest prize in the game's history, on Wednesday after purchasing it in Florida and hitting all six numbers in the lottery drawing. They then beat the 1 in 302.6 million odds of winning the multistate game by matching all of the lottery numbers drawn on Tuesday of 13, 19, 20, 32, 33, and the Megaplier was 14. [1/5]The display in a store shows the Mega Millions lottery jackpot at $1.55-billion in New York City, U.S., August 8, 2023. The last Mega Millions jackpot was won by a player in New York in April, at $20 million. A $2.04 billion Powerball jackpot in November 2022 ranks as the record highest lottery prize, according to media reports.

Persons: Shannon Stapleton, Shivani Tanna, Brendan O'Brien, Stephen Coates, Doina Organizations: Jacksonville , Treasure Coast Newspapers, Mega, REUTERS, Thomson Locations: Florida, Neptune Beach, Jacksonville ,, New York City, U.S, New York, Bengaluru, Chicago

☆ Florida player wins U.S. Mega Millions jackpot worth $1.58 bln
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: 1 min

[1/5] The display in a store shows the Mega Millions lottery jackpot at $1.55-billion in New York City, U.S., August 8, 2023. REUTERS/Shannon StapletonAug 9 (Reuters) - A player in Florida won a $1.58 billion Mega Millions lottery jackpot on Tuesday, the lottery website showed. The winning numbers drawn were 13, 19, 20, 32, 33, and the Megaplier was 14, according to the Mega Millions website. The last Mega Millions jackpot was won by a player in New York in April, at $20 million. A $2.04 billion Powerball jackpot in November 2022 ranks as the record highest lottery prize, according to media reports.

Persons: Shannon Stapleton, Shivani Tanna, Stephen Coates Organizations: Mega, REUTERS, Thomson Locations: New York City, U.S, Florida, New York, Bengaluru

☆ Tiger Global builds big stake in Apollo in shift from tech bets - FT
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Chase Coleman's Tiger Global has built a big stake in private equity firm Apollo Global (APO.N) as the hedge fund looks outside of technology investments in a hunt for better returns, the Financial Times reported on Thursday. The investment in Apollo, which Tiger described as a "leading global alternative investment manager", was revealed to investors in a mid-year letter, the report said, without disclosing the size of the stake. Tiger Global amassed the stake this year and has also "selectively added" other new holdings in the aerospace and healthcare sectors, the report said. Tiger Global and Apollo Global did not immediately respond to Reuters requests for comment. Tiger's push into non-tech companies comes amid a recovery in its main hedge fund, which at the half-year point of 2022 had lost about 50% of its value compared to 2021, the FT said.

Persons: Chase, Tiger, Shivani Tanna, Arun Koyyur Organizations: Tiger, Apollo, Financial Times, Tiger Global, Apollo Global, Thomson Locations: Bengaluru

REUTERS/Remo CasilliPARIS, Aug 2 (Reuters) - The first military planes carrying mostly European nationals evacuated from Niger landed in Paris and Rome on Wednesday, with France and other countries expected to fly more of their citizens out of the West African country after last week's coup. With the risk of conflict escalating, France, the former colonial power, Italy and Spain said they would evacuate citizens by air. The first French flight left Niger on Tuesday evening and landed in Paris early on Wednesday with 262 people on board, according to Reuters journalists there. An Italian military plane carrying 87 evacuees from Niger arrived in Rome early on Wednesday, according to Reuters journalists at the airport. The United States, Germany, and Italy also have troops in Niger on counter-insurgency and training missions.

Persons: Remo Casilli PARIS, Niger's, Mohamed Bazoum, Charles, Manuel Ausloos, Antonio Denti, Remo Casilli, Shivani, Michel Rose, Sandra Maler, Robert Birsel Organizations: Ciampino, REUTERS, Reuters, Thomson Locations: Niger, Rome, Italy, Paris, France, West, Central Africa, Spain, Italian, Britain, Hungary, Senegal, Nigeria, Mali, Burkina Faso, United States, Germany, Shivani Tanna, Bengaluru

☆ India raises windfall tax on petroleum crude
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday. The windfall tax on petrol and aviation turbine fuel has been left unchanged. Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero. India last July imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and aviation fuel after private refiners wanted to make gains from robust refining margins in overseas markets, instead of selling at home.

Persons: refiners, Shivani Tanna, Nikunj, Krishna Chandra Eluri, Maju Samuel Organizations: Thomson Locations: India

July 25 (Reuters) - The U.S. Federal Trade Commission (FTC) is finalizing its long-awaited antitrust lawsuit against Amazon (AMZN.O) in a move that could ultimately break up parts of the company, Politico reported on Tuesday. The complaint could focus on challenges to Amazon Prime, Amazon rules that the FTC says block lower prices on competing websites, and policies it believes force merchants to use Amazon's logistics and advertising services, the report said. Politico did not mention the exact details of the final lawsuit, but said personnel throughout the agency, including FTC Chair Lina Khan, have homed in on several of Amazon's business practices. The FTC declined to comment and Amazon did not immediately respond to Reuters requests for comment. Last month, the FTC accused Amazon of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel.

Persons: Andy Jassy, Jeff Bezos, Lina Khan, Shivani Tanna, Arun Koyyur, Subhranshu Organizations: U.S . Federal Trade Commission, Amazon, Politico, Amazon Prime, FTC, Thomson Locations: Bengaluru

☆ Logitech raises sales forecast for first half of 2024
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Logitech International (LOGN.S) on Tuesday raised its sales outlook for the first half of its 2024 financial year, in the first set of results since longstanding CEO Bracken Darrell quit the computer peripherals maker last month. The company said it now expects first-half sales of $1.875 billion to $1.975 billion, compared to 1.8 billion to 1.9 billion earlier. It also forecast full year sales of $3.8 billion to $4 billion. Non-GAAP operating profit, meanwhile, was $109 million, better than the $70 million forecast by analysts. After seeing a big jump in sales during the COVID-19 pandemic as people equipped their home offices with the latest keyboards and peripherals, Logitech has been bracing itself for a downturn this year.

Persons: Bracken Darrell, Darrell, John Revill, Subhranshu Sahu, Varun Organizations: Logitech, VF Corp, Thomson Locations: Zurich, Bengaluru

NatWest has faced intense political and media scrutiny over a decision by its private bank Coutts to close Farage's accounts. In a post on the X social media platform on Wednesday, Farage called for further heads to roll in the wake of Rose's resignation. On Tuesday, Farage said on his eponymous TV show that Rose was "unfit" to run a bank. She realised that her comments had left Jack with the impression that the decision to close Farage's accounts was solely a commercial one, Rose said in the statement. Rose also said she was not part of the decision-making process to "exit" Farage's accounts and said this was a decision made by Coutts.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Coutts, Farage, Rose, Simon Jack, Howard Davies, Davies, Peter Flavel, Jack, NatWest's, Sheldon Mills, Andrew Griffith, Iain Withers, Sinead Cruise, Urvi, Juby Babu, Simon Jessop, Mark Potter, Edwina Gibbs, Louise Heavens Organizations: NatWest, BBC, BBC Business, UK Treasury, Reuters, Government Investments, Authority, Thomson Locations: Bengaluru

[1/2] The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, U.S. July 19, 2023. ABC Affiliate WTVD via REUTERSJuly 21 (Reuters) - Most of the tornado damage at Pfizer Inc's (PFE.N) Rocky Mount, North Carolina plant was to the warehouse and not manufacturing facilities, CEO Albert Bourla said on Friday, easing concerns about long-term drug shortages from the plant. Nonetheless, Bourla told a news conference in Rocky Mount that it will be a monumental task to repair the damage. "We are moving full speed to bring this manufacturing plant into action again," Bourla said, noting that crews were working to restore power to the plant. The Rocky Mount plant is one of the largest factories for sterile injectable medicines in the world.

Persons: Albert Bourla, Bourla, Soumi Saha, Saha, Lisa Mulloy, Erin Fox, David Ljunggren, Michael Erman, Shivani Tanna, Rami Ayyub, Doina Chiacu, Cynthia Osterman, Diane Craft Organizations: Pfizer, ABC, WTVD, REUTERS, Pfizer Inc's, U.S, American Society of Health, System Pharmacists, U.S . Food, Drug Administration, FDA, Premier Inc, University of Utah Health, Thomson Locations: Rocky Mount, North Carolina, U.S, Rocky, Bengaluru

☆ Roivant in talks to sell bowel disease drug to Roche in over $7 bln deal - WSJ
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Biotech company Roivant Sciences (ROIV.O) is nearing a deal to sell an experimental drug to treat inflammatory bowel diseases including ulcerative colitis and Crohn's disease to Roche (ROG.S) in a deal that could be valued at more than $7 billion, the Wall Street Journal reported on Thursday. The sale of the drug could be announced in the coming days, the report said, citing people familiar with the matter. Roivant's experimental drug, RVT-3101, is under clinical trials for the treatment of moderate-to-severe ulcerative colitis, a long-term condition where the colon and rectum become inflamed, as well as a type of inflammatory bowel disease known as Crohn's disease. Roivant declined to comment, whereas Roche did not immediately respond to a Reuters request for comment. Reporting by Shivani Tanna and Sriparna Roy in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Roivant, Shivani Tanna, Sriparna Roy, Shailesh Organizations: - Biotech, Roivant Sciences, Wall Street, Thomson Locations: Bengaluru

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