DIRS.INFO The most relevant business & tech news

☆ FTC to file antitrust case against Amazon as soon as Tuesday - Politico
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen, November 15, 2022. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsCompanies Amazon.com Inc FollowSept 22 (Reuters) - The Federal Trade Commission (FTC) will file a long-awaited antitrust lawsuit against Amazon (AMZN.O) in federal court as soon as Tuesday, news site Politico reported on Friday, citing three people with knowledge of the matter. One of the final hurdles before the FTC sues Amazon is to get as many states as possible to sign on to the complaint, according to the report. FTC chairperson Lina Khan authored a Yale Law Journal article in 2017, in which she said Amazon's structure and practices posed anticompetitive concerns and has escaped antitrust scrutiny. Reporting by Urvi Dugar and Yuvraj Malik in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Pascal, Lina Khan, Urvi Dugar, Yuvraj Malik, Shilpi Majumdar Organizations: REUTERS, Federal Trade Commission, Amazon, Politico, FTC, Reuters, Yale, Thomson Locations: Bengaluru

☆ FTC to file antitrust case against Amazon as soon as Tuesday, Politico reports
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsSept 22 (Reuters) - The Federal Trade Commission will file a long-awaited antitrust lawsuit against Amazon (AMZN.O) in federal court as soon as Tuesday, Politico reported on Friday, kicking off the latest leg in the US effort to rein in the market power of Big Tech companies. The legal action, which would follow federal lawsuits filed against Alphabet's (GOOGL.O) Google and Meta's (META.O) Facebook, has been expected after years of complaints that the big tech companies abused their dominance. Amazon.com, for example, has been accused of buying competitors to thwart competition and abusing third-party sellers on its platform, among other allegations. The American tech giant has been criticized for allegedly favoring its own products and disfavoring outside sellers on its platform. FTC chairperson Lina Khan authored a Yale Law Journal article in 2017, in which she said Amazon's structure and practices posed anticompetitive concerns and has escaped antitrust scrutiny.

Persons: Pascal, Lina Khan, Urvi Dugar, Yuvraj Malik, Shilpi Majumdar, Chizu Organizations: REUTERS, Federal Trade Commission, Amazon, Politico, Big Tech, Alphabet's, Google, Facebook, FTC, Reuters, Yale, Thomson Locations: Bengaluru

☆ Apple's iPhone seen gaining market share in India as Pro model demand rises
▼ + stars: | 2023-09-22 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsSept 22 (Reuters) - Apple (AAPL.O) is expected to gain a larger share of India's smartphone sales, with the high-end iPhone 15 Pro and Pro Max models accounting for more of its shipments. The tech giant has been touting India as its next big growth driver amid declining sales of its flagship device. Wait times in India for Apple's latest 15 Pro and Pro Max models, that go on sale Friday, are stretching up to late October, mirroring trends seen in China and the U.S. Still, Apple has a long way to go before the country could bring in sales seen in the company's major markets. Morgan Stanley, in a note earlier this month, estimated that Apple's revenue from India is about half that of China.

Persons: Francis Mascarenhas, Max, Tim Cook, Apple, Morgan Stanley, Yuvraj Malik, Shounak Dasgupta Organizations: Apple, REUTERS, Reuters, Apple's, Counterpoint, IDC, Samsung, Thomson Locations: Mumbai, India, China, U.S, Bengaluru

☆ Cisco beefs up cybersecurity play with $28 bln Splunk deal
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

The logo of networking gear maker Cisco Systems Inc is seen during GSMA's 2022 Mobile World Congress (MWC) in Barcelona, Spain February 28, 2022. REUTERS/Nacho Doce Acquire Licensing RightsSept 21 (Reuters) - Cisco Systems (CSCO.O) on Thursday agreed to acquire cybersecurity company Splunk (SPLK.O) for about $28 billion, in its biggest acquisition ever that would bolster its network security business. "Combined, Cisco and Splunk will become one of the world's largest software companies and will accelerate Cisco's business transformation to more recurring revenue," the companies said in a joint statement. Cisco shares were down nearly 5% in premarket, while trading in Splunk stock was halted. The deal, which was unanimously approved by the boards of both Cisco and Splunk, is expected to close by the end of the third quarter of 2024 subject to regulatory approvals.

Persons: Simpson Thacher, Moore, Morgan Stanley, Flom, Splunk, Yuvraj Malik, Anil D'Silva Organizations: Cisco Systems Inc, Congress, REUTERS, Cisco Systems, Splunk's, Cisco, Splunk, Tidal Partners, Bartlett, Qatalyst Partners, Thomson Locations: Barcelona, Spain, premarket, Cravath, Slate, Bengaluru

☆ Microsoft announces unified AI assistant, new Surface devices
▼ + stars: | 2023-09-21 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Rami Amichay Acquire Licensing RightsSept 21 (Reuters) - Microsoft (MSFT.O) on Thursday announced a "unified" artificial intelligence (AI) for its Windows 11 platform and four new Surface devices, upping the appeal of its products spruced with the latest technology. The new AI tool, called Copilot, will work across the company's web and productivity applications Bing, Edge browser, and Microsoft 365 software suite. The updated AI software will roll out with the latest changes to Windows 11 on Sept. 26. It will be available in Microsoft 365 Copilot on Nov. 1, when the highly anticipated enterprise AI tool will be generally available for purchase. Microsoft on Thursday announced three laptops - Surface Laptop Go 3, Surface Laptop Studio 2 and Surface Go 4 For Business - and Surface Hub 3, the newer version of its interactive whiteboard.

Persons: Rami Amichay, Bing, OpenAI's, Panos, Yusuf Mehdi, Yuvraj Malik, Jeffrey Dastin, Maju Samuel Organizations: Microsoft, REUTERS, Big Tech, Apple, GenAI, Thomson Locations: Herzliya, Tel Aviv, Israel, Redmond , Washington, Panos Panay, Bengaluru, San Francisco

☆ Zuckerberg's philanthropy project plans AI system for life sciences research
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Beck Diefenbach/File Photo Acquire Licensing RightsSept 19 (Reuters) - Meta (META.O) CEO Mark Zuckerberg's philanthropy venture plans to build a computing system powered by artificial intelligence for life sciences research to study human cells and diseases. The Chan Zuckerberg Initiative, created by Zuckerberg and his wife Priscilla Chan, will use the computing system to run openly available AI models, the philanthropy venture said on Tuesday. AI has been used in the life sciences domain for some years. The system will be trained on datasets from software tool CZ Cell x Gene, as well as resources from Chan Zuckerberg Biohub Network and Chan Zuckerberg Institute for Advanced Biological Imaging, and publicly available data. The company released its latest Llama 2 model in July, and offered it for free to businesses of a certain size.

Persons: Priscilla Chan, Mark Zuckerberg, Chan, Beck, Mark, Chan Zuckerberg, Zuckerberg, Nvidia's, Yuvraj Malik, Shounak Dasgupta Organizations: Initiative, UCSF, REUTERS, Chan Zuckerberg Initiative, Google, Imaging, Meta, Thomson Locations: Bay, San Francisco , California, U.S, Bengaluru

[1/2] Israeli Prime Minister Benjamin Netanyahu speaks as he attends an economic forum at Ministry of Enterprises and Made in Italy, in Rome, Italy, March 10, 2023. REUTERS/Remo Casilli/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowSept 18 (Reuters) - Israeli Prime Minister Benjamin Netanyahu urged Elon Musk to strike a balance between protecting free expression and fighting hate speech at a meeting on Monday after weeks of controversy over antisemitic content on Musk's social media platform X. "I know you're committed to that ... but I encourage and urge you to find a balance," Netanyahu said. Musk responded by saying he was against antisemitism and against anything that "promotes hate and conflict," repeating his previous statements that X would not promote hate speech. The billionaire, who also runs Tesla and SpaceX, noted that he received more pushback from Tesla employees about the meeting with Netanyahu than "anything else I've ever done."

Persons: Benjamin Netanyahu, Remo Casilli, Elon Musk, Musk, Netanyahu, Sheila Dang, Ari Rabinovitch, Yuvraj Malik, Howard Goller Organizations: Ministry of Enterprises, REUTERS, Defamation, ADL, SpaceX, Thomson Locations: Italy, Rome, Fremont , California, Tesla's California, Israel, Dallas, Jerusalem, Bengaluru

☆ Microsoft says product chief Panay to step down; Davuluri to lead Windows
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Sept 18 (Reuters) - Microsoft's (MSFT.O) Pavan Davuluri will lead a team focused on Windows software, devices portfolio and semiconductor chips, the company said on Monday, while announcing the departure of longtime product chief Panos Panay. The team led by Davuluri will "build silicon, systems and devices that span Windows, client and cloud for an AI world," according to a staff email by Rajesh Jha, executive vice president of experiences and devices group at Microsoft. Davuluri will report to Microsoft Chief Executive Officer Satya Nadella, the email said. Microsoft is also creating a team to work on web services and Windows experiences with a focus on AI-based offerings. Reporting by Yuvraj Malik in Bengaluru and Stephen Nellis in San Francisco; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Pavan, Panos Panay, Davuluri, Rajesh Jha, Redmond, Satya Nadella, Yuvraj Malik, Stephen Nellis, Anil D'Silva Organizations: Microsoft, Reuters, Thomson Locations: Panay, Washington, Bengaluru, San Francisco

The iPhone 15 Pro is presented during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSept 15 (Reuters) - Buyers of Apple's new iPhone 15 Pro Max in China will need to wait for four to five weeks before receiving the smartphone, the company's website showed on Friday as it started taking pre-orders in an early sign of strong demand. The wait is slightly shorter for iPhone 15 Pro at two to three weeks, while the company said it could deliver iPhone 15 by Sept. 22, the day the phone goes on sale in stores. For the iPhone 15 Plus, the wait in China is eight working days. "The new iPhone 15 series, especially the Pro series, will be a good choice for the installed base who are using iPhone 11/12 and looking for an update replacement," Lam said, while adding that Huawei's Mate 60 series will be a challenge to the iPhone.

Persons: Loren Elliott, Ivan Lam, Lam, Brenda Goh, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Max, Apple, Huawei Technologies, Huawei, Thomson Locations: Cupertino , California, U.S, China, Shanghai, Bengaluru

☆ Apple unveils iPhone 15 Pro with titanium case, holds line on prices
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

IPHONE 15 LAUNCHBoth the Pro and other iPhone 15 models will have a brighter display and a 48-megapixel camera as well as 100% recycled cobalt in their batteries. [1/6]New iPhone 15 and iPhone 15 Plus are displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Apple said that USB-C charging cables are coming to both its iPhone 15 and the charging case of its AirPods Pro devices. She said the shift "brought some differentiation to the iPhone Pro, because there's faster throughput for data transfer. The iPhone 15 costs $799, the iPhone 15 Plus starts at $899 and the Pro series starts at $999.

Persons: Apple, Jeff Williams, Loren Elliott, Carolina Milanesi, Milanesi, Greg Joswiak, Bob O'Donnell, Pro Max, Lisa Jackson, Stephen Nellis, Aditya Soni, Pushkala, Raechel, Yuvraj Malik, Peter Henderson, Lisa Shumaker Organizations: Apple, Huawei Technologies, Huawei, Securities Times, REUTERS, American Automobile Association, AAA, Creative, TECHnalysis Research, Pro, Counterpoint Research, Thomson Locations: CUPERTINO , California, Cupertino , California, China, U.S, United States, Bengaluru

☆ Apple rolls out iPhone 15, watches with 'double tap' feature at flagship event
▼ + stars: | 2023-09-12 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

The announcement of the iPhone 15 line and upgraded smart watches at the company's annual event comes against the backdrop of flagging discretionary spending and expanded curbs on its flagship smartphones in China. Here are the details of the key announcements:The iPhoneApple launched iPhone 15 and iPhone 15 Plus, sporting 6.1-inch and 6.7-inch displays, respectively, similar to their predecessors. All the new models feature a 48-megapixel main camera, with the flagship Pro Max having 5X optical zoom and 3X telephoto capability. The iPhone 15 and iPhone 15 Plus get A16 bionic chip, while the iPhone 15 Pro and the Pro Max will be powered by the A17 pro chip. Apple also said the batteries of iPhone 15 and iPhone 15 Plus, which start at $799 and $899, respectively, are made of 100% recycled cobalt.

Persons: Tim Cook, Loren Elliott, Apple, Max, Pro Max, Yuvraj Malik, Sriraj Organizations: Apple, REUTERS, iPhone Apple, Pro Max, Pro, Thomson Locations: Cupertino , California, U.S, China, Bengaluru

☆ TikTok launches online shopping in the US
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

U.S. flag and TikTok logo are seen in this illustration taken, June 2, 2023. TikTok is bringing online shopping through a series of features on its main app and is hoping to replicate the success of Asian platforms Shein and PDD Holdings' (PDD.O) Temu. New features include a shop tab, where businesses can display their products with logistics and payments solutions powered by TikTok. The social media firm said it also integrated its shopping service with various third-party platforms like Shopify (SHOP.TO), Salesforce (CRM.N), and Zendesk, among others. Reporting by Yuvraj Malik in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, TikTok, ByteDance, Yuvraj Malik, Dhanya Ann Thoppil Organizations: REUTERS, PDD Holdings, Thomson Locations: United States, U.S, Thailand, Vietnam, Malaysia, Philippines, Singapore, United Kingdom, Bengaluru

☆ Intel to sell 10% stake in IMS Nanofabrication to TSMC
▼ + stars: | 2023-09-12 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 12 (Reuters) - Intel (INTC.O) said on Tuesday it has agreed to sell a stake of about 10% in the IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co (2330.TW). Intel will retain majority ownership of IMS, and the transaction is expected to close in the fourth quarter. "The investment by TSMC we believe also demonstrates the excitement across the whole semiconductor manufacturing ecosystem for the significant opportunity ahead of IMS," Intel vice president of corporate development Matt Poirier said. Intel is building a contract manufacturing business called Intel Foundry Services that competes with TSMC. Intel sold a 20% stake in IMS earlier this year to Bain Capital at the same valuation.

Persons: Dado Ruvic, Matt Poirier, TSMC, Elmar Platzgummer, Platzgummer, Yuvraj Malik, Max A, Shounak Dasgupta, Louise Heavens, David Evans Organizations: REUTERS, Intel, IMS, Taiwan Semiconductor Manufacturing, Intel Foundry Services, Bain Capital, Thomson Locations: Austrian, EUV, Bengaluru, Max, San Francisco

☆ Qualcomm to supply Apple with 5G chips until 2026 under new deal
▼ + stars: | 2023-09-11 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 11 (Reuters) - Qualcomm (QCOM.O) on Monday said it had signed a new deal with Apple (AAPL.O) to supply 5G chips to the iPhone maker until at least 2026. Qualcomm, whose shares rose more than 8% in premarket trading, is the leading designer of what are known as modem chips that connect phones to mobile data networks. The San Diego, California-based firm previously signed a supply deal with Apple in 2019, after the two companies settled a protracted legal battle. Under the deal announced Monday, Qualcomm said it will supply Apple with chips for phones that will come out each year until 2026. Qualcomm also said that a patent licensing deal it signed with Apple in 2019 remains in place.

Persons: Dado Ruvic, Apple's, Stephen Nellis, Yuvraj Malik, Miral Organizations: Qualcomm, REUTERS, Apple, Thomson Locations: San Diego , California, San Francisco, Bengaluru

☆ Alibaba's grocery unit IPO put on ice amid disappointing valuation - Bloomberg News
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Alibaba said in May that Freshippo's IPO would be completed in six to 12 months and that it was also considering listing its logistic unit, Cainiao. Alibaba's capital management committee, which is overseeing the breakup of the company, recently decided to wait for a more favorable market before moving forward with a Freshippo IPO and will prioritize listings of other units, the report added. Reuters reported last year that Freshippo was seeking to raise funds at a valuation of about $6 billion, much lower than a hoped-for valuation of up to $10 billion earlier. The Freshippo business is a supermarket chain in China and also offers services like dine-in and 30-minute home delivery. Reporting by Shubhendu Deshmukh and Yuvraj Malik in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Alibaba, Freshippo, Shubhendu Deshmukh, Yuvraj Malik, Anil D'Silva Organizations: REUTERS, Holding, Bloomberg, Reuters, Thomson Locations: HK, Hong Kong, China, Bengaluru

☆ Uber increasingly considering buybacks as cash flow ramps up - CEO
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 7 (Reuters) - Uber Technologies (UBER.N) is considering buybacks and dividends to shareholders as its cash flow ramps up, CEO Dara Khosrowshahi said at an event on Thursday. "We are now entering a phase where we are increasingly thinking about returning the capital to shareholders, either through dividends or buybacks, more likely with buybacks," Khosrowshahi said at the Goldman Sachs Communacopia + Technology conference. Uber in August reported its first-ever operating profit of $326 million for the second quarter ended June. It had more than $1 billion in free cash flow in the period.

Persons: Arnd, Dara Khosrowshahi, Khosrowshahi, Goldman Sachs, Yuvraj Malik, Devika Organizations: Economic, REUTERS, Technologies, Technology, Uber, Thomson Locations: Davos, Switzerland, Bengaluru

☆ Microsoft to defend customers on AI copyright challenges
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Sept 7 (Reuters) - Microsoft (MSFT.O) will pay legal damages on behalf of customers using its artificial intelligence (AI) products if they are sued for copyright infringement for the output generated by such systems, the company said on Thursday. Microsoft will assume responsibility for the potential legal risks arising out of any claims raised by third parties so long as the company's customers use "the guardrails and content filters" built into its products, the company said. It offers functionality meant to reduce the likelihood that the AI returns infringing content. The company's Copilot Copyright Commitment extends Microsoft's existing intellectual property indemnification coverage to copyright claims relating to the use of its AI-powered assistants called Copilots and Bing Chat Enterprise. Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: OpenAI, Yuvraj Malik, Shailesh Organizations: Microsoft, Bing, Thomson Locations: ChatGPT, Bengaluru

Surveillance cameras are seen near an iPhone advertisement at an Apple store in Beijing, China September 7, 2023. One of the sources said they had not yet been given a deadline to cease their iPhone use. Apple and China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to requests for comment. Bloomberg on Thursday reported that China planned to broaden the ban to state firms and agencies, citing sources. China has increasingly emphasized using locally made tech products, as technology has become a major national security issue for Beijing and Washington.

Persons: Florence Lo, China's, Tesla, Tim Cook, D.A, Davidson, Tom Forte, Yuvraj Malik, Jaspreet Singh, Brenda Goh, Alexander Smith, Shounak Organizations: Apple, REUTERS, U.S ., Staff, China's, Information Office, Huawei Technologies, Observer, Wall Street Journal, Bloomberg, Citi, Canalys, Government, HK, Huawei, Thomson Locations: Beijing, China, HONG KONG, BEIJING, Washington, U.S, Hong Kong, Shanghai, Bengaluru

☆ Intel to offer foundry services to Tower Semiconductor after acquisition deal falls through
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO: Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 5 (Reuters) - Intel (INTC.O) will offer foundry services to Tower Semiconductor (TSEM.TA) in a new deal that will see the Israeli contract chipmaker invest $300 million in Intel's New Mexico factory, the companies said on Tuesday. "We see this as a first step towards multiple unique synergistic solutions with Intel," Tower CEO Russell Ellwanger said. The deal also strengthens Intel's foundry capacity as it advances on rivals such as industry leader Taiwan Semiconductor Manufacturing Co. In the second quarter, Intel's foundry business reported revenue of $232 million, up from $57 million a year earlier.

Persons: Dado Ruvic, Russell Ellwanger, Yuvraj Malik, Shweta Agarwal Organizations: Semiconductor, REUTERS, Intel, Tower Semiconductor, Taiwan Semiconductor Manufacturing, Thomson Locations: Intel's New Mexico, China, New Mexico, Ohio, Bengaluru

☆ Meta to drop 'Facebook News' tab in some European countries
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing RightsSept 5 (Reuters) - Meta Platforms (META.O) said on Tuesday it will discontinue the "Facebook News" feature on its social media app in the UK, France and Germany, later this year. Users will still be able to view links to news articles and European news publishers will continue to have access to their Facebook accounts and pages after the change is implemented in December, Meta said. However, Facebook will not form new commercial deals for news content on "Facebook News", nor offer product innovations for news publishers in these countries. "Facebook News", which curates a feed of news articles, is a dedicated tab in the bookmarks section of the Facebook app.

Persons: Yves Herman, Meta, Yuvraj Malik, Pooja Desai Organizations: REUTERS, Facebook, Big Tech, Thomson Locations: Brussels, Belgium, France, Germany, Canada, Australia, Bengaluru

☆ Disney closes at lowest in nearly nine years as investors turn bearish
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

Aug 24 (Reuters) - Shares of Walt Disney (DIS.N) fell 3.9% on Thursday, closing at their lowest level in nearly nine years, with some investors betting that a further price drop is on the cards in the next few months. On Thursday, Disney options were busier than usual with some 321,000 contracts traded, or 1.4 times the average daily volume, according to data from options analytics firm Trade Alert. Traders work at the post where Walt Disney Co. stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. Put options convey the right to sell shares at a fixed price in the future. Disney's stock closed at $82.47, its lowest since October 16, 2014.

Persons: Walt Disney, Bob Iger, Brendan McDermid, Jerome Powell's, Iger, Yuvraj Malik, Saqib Ahmed, Leroy Leo, Krishna Chandra Organizations: Walt, Alert, Walt Disney Co, New York Stock Exchange, REUTERS, U.S . Federal, Thomson Locations: New York, U.S, Bengaluru

☆ Disney drops to lowest in over three years as investors turn bearish
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Traders work at the post where Walt Disney Co. stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/file photo Acquire Licensing RightsAug 24 (Reuters) - Shares of Walt Disney (DIS.N) were down 3.7% on Thursday, hitting their lowest level in nearly three-and-a-half years, with some investors betting that a further price drop is on the cards in the next few months. On Thursday, Disney options were busier than usual with some 195,000 contracts traded by around 1 pm ET (1700 GMT). Put options convey the right to sell shares at a fixed price in the future. Reporting by Yuvraj Malik in Bengaluru and Saqib Ahmed in New York; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Walt Disney, Bob Iger, Jerome Powell's, Iger, Yuvraj Malik, Saqib Ahmed, Krishna Chandra Organizations: Walt Disney Co, New York Stock Exchange, REUTERS, Walt, U.S . Federal, Thomson Locations: New York, U.S, Bengaluru

REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsAug 24 (Reuters) - Warner Bros Discovery (WBD.O) said on Thursday it was adding a new offering to its Max streaming platform, a round-the-clock news service called CNN Max, in the United States on Sept. 27. CNN Max will leverage the news network's global reporting resources, and will also offer new original programs, such as "CNN Newsroom with Jim Acosta, Rahel Solomon, Amara Walker and Fredricka Whitfield," Warner Bros Discovery said in a statement. It will function like a channel within the Max streaming platform. CNN Max will seek to capitalize on the immediacy of breaking news and analysis, differentiating CNN Max from the short-lived CNN+ streaming service, which launched in March 2022 and featured lifestyle programs. CNN's parent, Warner Bros Discovery, has been working to increase how much time subscribers spend on its Max streaming service, augmenting its HBO scripted series with Discovery's reality shows to keep viewers watching.

Persons: Alyssa Pointer, CNN Max, Jim Acosta, Rahel Solomon, Amara Walker, Fredricka Whitfield, Axios, CNN's, Max, Anthony Bourdain, Stanley Tucci, Yuvraj Malik, Dawn Chmielewski, Helen Coster, Anil D'Silva, Chizu Nomiyama, Jonathan Oatis, Will Dunham Organizations: Warner Bros . Discovery, REUTERS, Warner Bros Discovery, CNN, Max, P Global Market Intelligence, Español, CNN International, Fox News, MSNBC, Nielsen, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, United States, Italy, Bengaluru, Dawn, Los Angeles, New York

☆ Singapore's Grab forecasts smaller operating loss this year
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

A Grab employee shows the Apps used to book a cab in the metro Manila, Philippines July 22, 2016. REUTERS/Romeo Ranoco/File Photo Acquire Licensing RightsAug 23 (Reuters) - Grab (GRAB.O) forecast a smaller operating loss for the current fiscal year and pulled forward its profitability timeline on Wednesday, driven by cost savings from its recent workforce reduction. The Southeast Asian internet firm now sees adjusted loss before interest, taxes, depreciation and amortization between $30 million and $40 million, compared to its earlier forecast of $195 million to $235 million. Grab is undergoing a restructuring focused on lowering costs, with measures including cuts to its cloud bill and consumer and worker incentives. In the quarter ended June 30, the company's revenue increased 77%, to $567 million, surpassing analysts' estimate of $546.1 million, according to Refinitiv data.

Persons: Romeo Ranoco, Yuvraj Malik, Pooja Desai Organizations: REUTERS, Thomson Locations: Manila, Philippines, U.S, Bengaluru

Search resuls for: "Yuvraj"

25 mentions found