DIRS.INFO The most relevant business & tech news

☆ Virgin Orbit enters "stalking horse" bid to sell aircraft assets for $17 mln
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: 1 min

May 16 (Reuters) - Bankrupt satellite launch company Virgin Orbit said on Tuesday it has entered into a "stalking horse" agreement with Stratolaunch to sell mainly its aircraft assets, including the "Cosmic Girl" carrier aircraft, for $17 million in cash. A stalking horse bid is used as a starting bid or minimally accepted offer that other interested bidders must surpass if they want to buy the company. In a court filing, Virgin Orbit said the bid does not prevent going concern bidders from making bids for all its assets, including the ones which Stratolaunch is bidding for. Reporting by Shubham Kalia in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Global medical technology company GE HealthCare is an "attractive large-cap diagnostics & imaging play," according to Oppenheimer. The firm says GE HealthCare has become more focused following its recent spinoff from its parent company. "GE Healthcare is the global leader in healthcare diagnostics, imaging, and intervention. "Its medium-term margin outlook is predicated on key initiatives," including optimizing manufacturing, introducing new products and integrated digital solutions, Kalia said. The analyst noted that GE HealthCare looks to benefit from an aging population and increase in chronic diseases.

☆ Here’s What to Know About ‘Queen Charlotte: A Bridgerton Story’
▼ + stars: | 2023-05-11 | by ( Kalia Richardson | ) www.nytimes.com time to read: +1 min

With her withering glares and colossal wigs, Queen Charlotte has become a treasured character in the first two seasons of “Bridgerton,” the steamy hit Netflix series set in an alternate, racially diverse version of Regency Era Britain. As played by Golda Rosheuvel, she is a hard-line matriarch with an ear for gossip and an eye for beauty. Now she is the subject of her own six-episode Netflix prequel series, “Queen Charlotte: A Bridgerton Story,” which tells the tale of young Charlotte (India Amarteifio) as she begins her rise to power. Viewers witness her whirlwind marriage to King George III, meet her delinquent children and come to better understand her motivations and loneliness. “‘The love of Queen Charlotte and King George united the nation’ — that’s one sentence in ‘Bridgerton,’ and to me that told a whole world,” Shonda Rhimes, the show’s creator, said in a phone interview last week.

May 10 (Reuters) - Roblox Corp (RBLX.N) on Wednesday topped quarterly bookings estimates on Wednesday, as a wider audience swarmed to the platform for games such as "Adopt Me!" However, adjusted loss of 44 cents per share was bigger than analysts' expectation of 40 cents loss per share, according to Refinitiv data. Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss. "We also expect our operating expenses to increase significantly in future periods", the company said, adding it intends to continue to make investments to grow its business and hire more people. Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Roblox quarterly loss widens on higher expenses, shares tank
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Roblox Corp (RBLX.N) posted a larger-than-expected quarterly loss on Wednesday, hurt by higher expenses to support the expansion of its business, sending the company's shares down 12% in premarket trading. California-based Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss. Net loss attributable to common stockholders was $268.3 million, or 44 cents per share, in the reported quarter, compared with net loss of $160.20 million, or 27 cents per share, a year earlier. However, the company posted net bookings of $773.8 million in the first quarter, compared with $631.2 million a year earlier. Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Qualcomm to acquire Israeli auto-chip maker Autotalks
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

Autotalks makes dedicated chips used in the vehicle-to-everything (V2X) communications technology for manned and driverless vehicles to improve road safety. The company had credited the jump to its Snapdragon Digital Chassis product used by car makers and their suppliers. The Snapdragon Digital Chassis can provide assisted and autonomous driving technology, as well as in-car infotainment and cloud connectivity. Qualcomm on Monday said it would incorporate Autotalks' solutions into Snapdragon Digital Chassis product portfolio, but did not elaborate on the financials of the deal. The acquisition will be made through its unit Qualcomm Technologies, Qualcomm added.

☆ AMC earnings a hit on Wall Street as 'Ant-Man' attracts more moviegoers
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

May 5 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) beat Wall Street estimates for first-quarter revenue on Friday, as a string of hit films including the latest installment of Marvel's "Ant-Man" drove more moviegoers to theaters. Shares of the Leawood, Kansas-based company, which operates over 900 theaters globally, rose nearly 4% in trading before the bell. AMC has been trying different combinations to attract audiences to its theaters, including options where moviegoers can choose different seating options to meet their viewing preferences. Revenue for the quarter was $954.4 million, compared with analysts' expectation of $948.5 million, according to Refinitiv IBES data. Reporting by Tiyashi Datta and Yamini Kalia in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ ‘Yellowjackets’: How Sophie Nélisse Managed That Harrowing Birth Scene
▼ + stars: | 2023-05-05 | by ( Kalia Richardson | ) www.nytimes.com time to read: +1 min

This article contains spoilers for Episode 6 of Season 2 of “Yellowjackets.”Sophie Nélisse keeps a close eye on what she eats. When picking out a restaurant for her 23rd birthday dinner last month, she opted for an Italian spot in Montreal that specializes in naturally leavened pizza, pies without commercial yeast. She shops at Erewhon, the trendy health food store, when she is in Los Angeles. “I’ve been eating clean,” she said in a recent video call from her home in Montreal. In the Season 2 premiere, her character, the teenage version of Shauna, snacks on her dead best friend Jackie’s ear.

☆ Mobileye lowers annual revenue forecast
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - Mobileye Global Inc (MBLY.O) on Thursday lowered its forecast for annual revenue, hurt by increasing competition from start-ups as well as automakers developing their own driver-assistance products. The autonomous driving technology company now expects revenue to range between $2.07 billion and $2.11 billion from $2.19 billion and $2.28 billion estimated previously. The timeline for autonomous vehicle deployment due to tough regulatory scrutiny and delayed commercial adoption of the technology has also left investors worried. Mobileye, however, posted revenue of $458 million in the first quarter, compared with analysts' estimates of $454.7 million, according to Refinitiv IBES data. Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ India's Modi raises embassy security with UK's Sunak after vandalism
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

April 13 (Reuters) - Britain should take action after a violent incident during protests outside India's embassy in London last month, India's Prime Minister Narendra Modi told British counterpart Rishi Sunak on Thursday. New Delhi has been upset about protests and vandalism by Sikh separatists - who seek an independent Sikh homeland called Khalistan - outside the Indian High Commission in London and elsewhere in the U.S. and Canada. In a telephone conversation with Sunak, Modi called for "strong action against anti-India elements" by the British government following the incident, Modi's office said in a statement. "He stressed that extremism had no place in the UK and updated on the steps being taken to ensure the security of Indian High Commission staff," Sunak's office added. The demonstration outside the Indian High Commission was staged to denounce recent police action in the Sikh-majority Indian state of Punjab against a pro-Khalistan Sikh preacher.

☆ UK to review security at Indian High Commission in London after protests
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - British foreign minister James Cleverly on Wednesday said the country will review security at the Indian High Commission in London following "unacceptable acts of violence" towards the mission's staff. According to the BBC, crowds had gathered outside the high commission's building on Sunday and windows were broken, after which India demanded an explanation for the "complete absence of the British security" around the premises. On Wednesday, Indian daily The Hindu reported that at least a hundred police officers were standing guard on both sides of the road outside the High Commission in London on Wednesday. Cleverly said that police investigation was ongoing after the acts of violence and that the country will make the necessary changes to ensure the safety of the Indian mission's staff as it did for demonstrations on Wednesday. Reporting by Anirudh Saligrama and Shubham Kalia in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

ZURICH, March 21 (Reuters) - Swiss authorities imposed curbs on bonus payments for Credit Suisse (CSGN.S) employees, a move that will penalise bankers after a multi-billion-franc state rescue of the bank. Credit Suisse declined to comment. Battered by years of scandals and losses, Credit Suisse for months had been battling a crisis of confidence. The bank's bonus pool shrank by 50% in 2022 to 1 billion Swiss francs, according to its annual report. The Swiss government also instructed its finance ministry to propose further measures on variable remuneration for Credit Suisse.

☆ UBS agrees to buy Credit Suisse for more than $2 billion, Financial Times reports
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: 1 min

March 19 (Reuters) - UBS (UBSG.S) has agreed to buy Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday. UBS will pay more than 0.50 francs ($0.5401) a share in its own stock, far below Credit Suisse’s closing price of 1.86 francs on Friday, FT reported, citing sources. The Swiss National Bank has agreed to offer a $100 billion liquidity line to Credit Suisse as part of the deal, the FT added, citing two people familiar with the matter. According to the report, UBS has agreed to a softening of a material adverse change clause that would void the deal if its credit default spreads jump. Credit Suisse and UBS declined to comment.

☆ YouTube restores Donald Trump's channel
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: 1 min

March 17 (Reuters) - Alphabet Inc's (GOOGL.O) YouTube said on Friday it has lifted its restrictions on former U.S. President Donald Trump's channel. The video streaming platform banned Trump on Jan. 12 in 2021 for violating its policy of inciting violence after his supporters stormed the U.S. Capitol when Congress began to certify Joe Biden's victory in the presidential election a week earlier. Reporting by Shubham Kalia in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ S&P says not seen rampant deposit outflows to merit rating action
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 15 (Reuters) - S&P has not placed other U.S. banks on CreditWatch negative since First Republic Bank as it has not seen widespread deposit outflows, the ratings agency said on Tuesday, hours after Moody's cut its outlook on the U.S. banking system to negative. read more read moreEarlier on Tuesday, S&P Global Ratings placed First Republic Bank (FRC.N) on CreditWatch negative, reflecting lower confidence in the lender's financial strength. However, later in the day, S&P said it had not seen evidence that the unmanageable deposit outflows seen at a few banks had widely spread across the banks it covers. Moody's Investors Service revised its outlook on the U.S. banking system to "negative" from "stable" earlier on Tuesday to reflect the rapid deterioration in the operating environment. Reporting by Lavanya Ahire and Shubham Kalia in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) recovered to $0.9917, closer to its par and up from last week's lows around $0.88. Over the weekend, USDC had lost its 1:1 dollar peg and hit a record low on Saturday on concerns over the exposure of Circle — the firm behind USDC — to Silicon Valley Bank. Circle CEO Jeremy Allaire said in a tweet its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank (SIVB.O) will be fully available when U.S. banks open Monday.

☆ Circle says $3.3 bln USDC reserves to be fully available on Monday
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

March 12 (Reuters) - Cryptocurrency firm Circle said on Sunday all its depositors with the collapsed Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) will be made whole and the $3.3 billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open Monday. Circle said it did not have any Stablecoin USD Coin (USDC) cash reserves at Signature Bank and that the token remained redeemable at 1:1 U.S. dollar peg. Further, the crypto firm announced an automated USDC minting and redemption through Cross River Bank, effective Monday, and said its expanded relationships also include USDC redemptions via BNY Mellon (BK.N). "Circle's USDC operations will open for business, including with new automated settlement via our new partnership with Cross River Bank," Chief Executive Officer Jeremy Allaire said in a tweet. USDC lost its dollar peg and slumped to an all-time low on Saturday before recovering most of its losses when Circle assured investors it would honor the peg despite exposure to failed Silicon Valley Bank.

☆ Goldman analysts no longer expect Fed rate hike in March after SVB failure
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Goldman Sachs' analysts on Sunday said they no longer expect the U.S. Federal Reserve to deliver a rate hike at its March 22 meeting with considerable uncertainty about the path beyond March, in light of the recent stress in the banking sector. Goldman previously expected a 25-basis-point hike in March. The Federal Reserve also made it easier for banks to borrow from it in emergencies. Goldman analysts said they expected the measures taken by the regulators to provide substantial liquidity to banks facing deposit outflows and to improve confidence among depositors. Goldman left unchanged its expectations for 25-basis-point hikes in May, June, and July, but said it saw considerable uncertainty about the rate hike path beyond March.

☆ Meta explores decentralized social network app for text updates
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

March 10 (Reuters) - Meta Platforms Inc (META.O) is exploring a standalone decentralized social network for sharing text updates, a company spokesperson said on Friday, in what could be a direct competitor to billionaire Elon Musk's Twitter Inc."We're exploring a standalone decentralized social network for sharing text updates. We believe there's an opportunity for a separate space where creators and public figures can share timely updates about their interests," a Meta spokesperson told Reuters in an emailed statement. The report said Meta's new content app would support ActivityPub, the decentralized social networking protocol that powers Twitter-rival Mastodon and other federated apps. Meta's new app would be Instagram-branded and will allow users to register or login through their Instagram credentials, according to the Moneycontrol report. Reporting by Shubham Kalia and Shubhendu Deshmukh in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Meta exploring plans for Twitter rival
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

March 10 (Reuters) - Meta Platforms Inc (META.O) is exploring plans to launch a new social media app in its bid to displace Twitter as the world's "digital town square". "We're exploring a standalone decentralized social network for sharing text updates. A Twitter-like app would allow Meta to take advantage of the current chaos at the Elon Musk-led company, where cost-cutting has been rampant. Twitter has been struggling to hold on to its advertising base since Musk's takeover of the platform late last year. "They're just trying everything... at least with a mini blogging site like Twitter, there's some expectation that it could start to make money out of much quicker timeline than the metaverse investment."

☆ Tesla cuts U.S. Model S and Model X prices between 4% and 9%
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

The Model S and Model X, which come in base all-wheel drive (AWD) and performance "Plaid" editions, represented about 4% of Tesla's global deliveries in 2022. Tesla's website showed it had cut prices on both versions of its Model S by $5,000. The basic version of Model S was cut by 5% to $89,990, while the price of the performance, Plaid variant was cut by 4% to $109,990. Prices of both the performance and basic variants of Model X cars were cut by $10,000, the electric vehicle maker's website showed. The price of the basic, AWD version of the Model X was cut by 9% to $99,990 while its performance Plaid version was cut by 8% to $109,990.

Feb 14 (Reuters) - Christine Wilson, the sole Republican on the U.S. Federal Trade Commission (FTC), said on Tuesday she will resign soon, blaming the move on the agency's top official, Lina Khan. "Much ink has been spilled about Lina Khan's attempts to remake federal antitrust law as chairman of the Federal Trade Commission," Wilson wrote in an opinion piece in the Wall Street Journal. Wilson said in the piece that she would resign "soon" but gave no date. "I dissented on due-process grounds, which require those sitting in a judicial capacity to avoid even the appearance of unfairness," wrote Wilson. Wilson accused the Biden administration FTC of overstepping by being too aggressive in stopping mergers and banning most noncompete clauses.

U.S. District Judge Lewis Kaplan imposed the VPN ban through Thursday, when he will hold a hearing to consider additional restrictions to Bankman-Fried's $250 million bail package. The judge on Tuesday extended that ban by three days, to Feb. 24. Prosecutors said Bankman-Fried cheated customers and improperly diverted assets, causing billions of dollars in losses. In a Monday night filing, prosecutors said Bankman-Fried used a VPN to access the internet on Jan. 29 and Feb. 12. Defense lawyers responded that Bankman-Fried used a VPN to watch National Football League playoff games on Jan. 29 and the Super Bowl on Feb. 12.

☆ Medical device stocks tend to beat the market, and analysts expect these names to see big gains
▼ + stars: | 2023-01-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Medical device makers, like many manufacturers, have faced challenges over the last year from inflationary supply chain costs, staffing shortages and the strong dollar impacting sales overseas. However, since 2007 the device sector ETF has averaged a gain of 14% per year, 6 percentage points better than the broader market index over the same period. More than 60% of analysts rate the shares a buy, with a mean price target implying 34% upside. Nearly 90% of analysts rate the stock a buy, with mean price target of $53, implying more than 30% upside. BTIG analysts Marie Thibault and Ryan Zimmerman think that M & A could be another catalyst for the medical device sector in 2023, with robotic surgery players likely to be of particular interest.

☆ Apple indefinitely postpones launch of AR glasses - Bloomberg News
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 17 (Reuters) - Apple Inc (AAPL.O) has postponed the launch of its lightweight augmented-reality glasses indefinitely due to technical challenges, but is still planning to unveil its first mixed-reality headset this year, Bloomberg News reported on Tuesday. The iPhone maker's mixed-reality headset - which combines both augmented and virtual reality - is set to launch in this year's spring event, Bloomberg said, adding that the device will cost around $3,000. Apple's mixed-reality device would compete with the likes of Meta Platforms' (META.O) Quest Pro virtual and mixed-reality headset, which it launched late last year for $1,500, half of the Apple device's reported price. The Cupertino, California-based company now plans to focus on lowering the price of the follow-up version of its mixed-reality device, expected as soon as 2024 or early 2025, instead of working on the AR glasses, according to the report. The Information website first reported Apple's plans to unveil a cheaper mixed-reality headset on Tuesday.

Search resuls for: "Kalia"

25 mentions found