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Dec 21 (Reuters) - The Australian Competition & Consumer Commission (ACCC) on Wednesday rejected TPG Telecom's (TPG.AX) regional network-sharing agreement with Telstra Group (TLS.AX), and said the deal would significantly weaken overall competition in the country. TPG's shares tanked nearly 6% to a record low following the news, while Telstra slipped 0.1%. In February, the telecom giants signed a regional multi-operator core network agreement under which Telstra — the country's largest telecoms operator — would gain access to TPG's 4G and 5G spectrums. TPG and Telstra expressed disappointment with the competition regulator's decision, which the latter said it would appeal against, while rival telecoms firm Optus — owned by Singapore Telecommunications (STEL.SI) — welcomed it. ACCC noted the network-sharing arrangement is proposed at a time when all the three companies — TPG, Telstra and Optus — are competing in the roll-out of 5G infrastructure including in regional areas.
Dec 21 (Reuters) - Australian Competition & Consumer Commission (ACCC) on Wednesday rejected TPG Telecom's (TPG.AX) network sharing agreement with Telstra Corp (TLS.AX), saying the deal would significantly weaken competition in the country. 2 internet service provider - said it was "disappointed" with the Australian competition regulator's decision and is preparing an application for a review of the decision. In February, the companies signed a regional multi-operator core network agreement under which Telstra, the country's largest telecoms operator, would gain access to TPG's 4G and 5G spectrums. The deal was expected to deliver between A$1.6 bln ($1.07 bln) and A$1.8 billion of revenue to Telstra over the initial 10-year term. Reporting by Navya Mittal in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Hibbett — Shares of Hibbett dropped more than 9% after the company posted a disappointing profit for the third quarter. Chevron — The energy stock rose more than 1% as oil prices rebounded from Monday's sell-off. Wynn Resorts , Las Vegas Sands — Shares of casino operators Wynn Resorts and Las Vegas Sands jumped 2.6% and 1.8% respectively on news that China has given new licenses to operators in Macao so that they can keep operating amid the government's zero Covid policy. Darden Restaurants — Shares of Olive Garden's parent company slipped roughly 1% following a downgrade to neutral from Baird. The firm said the "risk/reward looks more balanced" for Darden Restaurants following the stock's recent outperformance.
Third, long-duration stocks that are unprofitable — typically these are growth stocks found in the tech sector — should be avoided, Kostin said. Fourth, Kostin likes stocks that have growing profit margins despite the tightening economic conditions. He shared a list of stocks with the most resilient profit margins over the last few year, and which are expected to grow margins next year. And finally, Kostin recommended avoiding stocks whose profit margin growth in recent years may have been due to a decrease in expenses as opposed to an increase in sales. Rising or normalizing expenses for these companies could chip away at profit margins.
Former T-Mobile boss John Legere suggested running Twitter for Elon Musk. Musk replied to Legere, saying "no" and that a technologist was needed to run Twitter. "You can stop managing daily business, and "content moderation" and then support product/technology, let someone else "run" Twitter," Legere said in the tweet. "I'm expensive but so is what you paid for twitter," Legere continued adding that Musk should be "leadership example of how to tweet." It's not the first time Musk has rejected a business leader's advice about how to run Twitter.
The committee on Oct. 22 sent Trump himself a subpoena to testify under oath and provide documents. Trump, who is considering another run for the presidency in 2024, has accused the panel of waging unfair political attacks on him. Circuit Court of Appeals on Oct. 22 declined to put the subpoena on hold while Ward appealed. Ward and her husband, Michael Ward, both signed their names on one of the slates of alternate electors for Trump. Supreme Court Justice Elena Kagan had temporarily put the subpoena on hold on Oct. 28 while the full court decided how to proceed.
Deutsche Telekom raises guidance after bumper Q3
  + stars: | 2022-11-10 | by ( Reuters Staff | ) www.reuters.com   time to read: +1 min
FILE PHOTO: A woman carrying her phone passes by the logo of German telecommunication company "Deutsche Telekom" at the ITS World Congress 2021, a fair for intelligent transport systems, in Hamburg, Germany, October 13, 2021. REUTERS/Fabian BimmerBERLIN (Reuters) -Deutsche Telekom nudged up its full-year guidance on Thursday as the U.S. dollar’s appreciation helped buoy third-quarter profit and its T-Mobile US business added customers. “We are once again proving to be an anchor of stability in difficult times,” said Tim Hoettges, chairman of Deutsche Telekom’s management board. In organic terms, Telekom expected full-year adjusted EBITDA AL to come in at more than 37.0 billion euros, up from previous guidance of around 37.0 billion. T-Mobile US now expects to unlock synergies from its merger with Sprint of $5.7-5.8 billion this year, up from previous guidance of $5.4-5.6 billion, Telekom said.
Stephen King makes for unlikely antitrust hero
  + stars: | 2022-11-01 | by ( Jennifer Saba | ) www.reuters.com   time to read: +4 min
A U.S. judge blocked Penguin Random House’s $2.2 billion acquisition of rival Simon & Schuster on Monday after the Department of Justice argued it would unfairly limit pay for top authors such as Stephen King. Adding Simon & Schuster would give it 70% of the literary nonfiction market, according to NPD Book Scan. The Department of Justice drew a line in its challenge to Penguin, distinguishing highly paid writers from the rest. Follow @jennifersaba on TwitterloadingCONTEXT NEWSA U.S. judge on Oct. 31 ruled that a planned $2.2 billion merger of Penguin Random House and rival Simon & Schuster cannot go forward. German media group Bertelsmann, the owner of Penguin, agreed to buy Simon & Schuster from Paramount Global in 2020.
Analysts now see third-quarter S&P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data. Of the 11 major sectors of the S&P 500, all but consumer discretionary stocks (.SPLRCD), weighed down by Amazon shares, ended the session green. Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&P 500 having reported. The S&P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows. Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days.
T-Mobile’s customer gains have led the wireless industry for most of the past two years. T-Mobile US Inc. said its cost and customer trends had improved heading into the end of 2022 after the company logged its strongest jump in core phone subscriptions since its merger with Sprint Corp. The cellphone carrier reported a net gain of 854,000 postpaid phone connections during the recent quarter, a postmerger record that outpaced both AT&T Inc. and Verizon Communications Inc. The tally topped the average estimate of 725,000 from analysts polled by FactSet.
Oct 27 (Reuters) - T-Mobile US Inc (TMUS.O) on Thursday raised its annual forecast for monthly bill-paying wireless subscriber additions for the third time this year, after beating estimates for quarterly additions as inflation-weary people lapped up its affordable plans. The telecoms giant has been offering discounts on smartphones and plans at industry-low prices to attract subscribers and stave off competition. T-Mobile added 854,000 monthly bill-paying phone subscribers in the third quarter, far higher than FactSet estimates of 724,800. In comparison, AT&T added 708,000 wireless subscribers in the third quarter, while Verizon, the largest U.S. carrier by subscribers, only added 8,000 customers in the same period due to its price hikes. T-Mobile expects to add between 6.2 million and 6.4 million net monthly-bill paying subscribers in 2022, up from a prior forecast of 6 million to 6.3 million.
It reported 15 million paid subscribers for its Peacock streaming service, up from 13 million in the previous quarter. Total company revenue fell 1.5% to $29.85 billion in the quarter, compared with estimates of $29.65 billion, according to Refinitiv data. Net loss attributable to Comcast was $4.6 billion, or $1.05 per share, compared with a profit of $4.04 billion, or 86 cents per share, a year earlier. The net loss was partly due to an $8.6 billion goodwill impairment charge in its UK pay-TV company, Sky. NBCUniversal's theme parks division generated $2.06 billion in revenue, versus $1.45 billion a year ago.
It's long been a dream of satellite communications visionaries, but bulky, specialized and typically expensive satellite phones fell short of mass appeal. While SpaceX has launched more than 3,000 first generation satellites so far, adding a direct-to-phone service will require thousands more. Private venture Lynk Global likewise aims to provide a cell tower in space from satellites, with plans for a constellation of several thousand in a few years. And while some build out satellite networks, other major players are eyeing Earth-bound innovations, with systems dependent on a specialized antenna in phones. In partnership with Globalstar , the feature allows users to send compressed text messages from iPhone 14s via satellites.
Oct 21 (Reuters) - Verizon Communications Inc (VZ.N) posted a 23% slide in third-quarter profit and missed market estimates for wireless subscriber additions on Friday, as several customers opted for cheaper plans from rivals AT&T Inc (T.N) and T-Mobile US Inc (TMUS.O). Verizon lost 189,000 monthly bill-paying phone subscribers in its consumer business in the quarter after the U.S. carrier raised prices for its plans in June through additional charges, which was over and above its already pricier plans. Register now for FREE unlimited access to Reuters.com RegisterVerizon added 8,000 net new monthly bill paying wireless phone subscribers in the quarter, well below Factset estimates of 35,400 additions. Telecom players are coming under increasing pressure to keep their plans affordable as rising cost of living crimps discretionary spending by customers. Total revenue, however, rose 4% to $34.2 billion, above expectations of $33.78 billion, according to Refinitiv data.
This is a preview of Insider Intelligence's 2021 Canada Mobile Banking Emerging Features Benchmark, available exclusively to subscribers. The Canadian banks that offer the most desirable mobile banking app features in 2021 are RBC, TD Canada, and BMO, according to the inaugural Insider Intelligence Canada Mobile Banking Emerging Features Benchmark. The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark examines the offerings of the seven largest Canadian FIs by assets to determine which banks best meet customer demand for advanced mobile banking features. The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark ranks the seven largest Canadian financial institutions by assets according to the strength of their mobile banking capabilities. The Canada Mobile Banking Emerging Features Benchmark covers Banque Nationale, BMO, CIBC, Desjardins, RBC, Scotiabank, and TD.
Kakao shares plunged as much as 9.5% on Monday to their lowest since May 2020, wiping out 2 trillion won ($1.39 billion) in market capitalisation at one point, while shares in affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) lost more than 8% before paring losses. South Korea's technology ministry is probing whether the outage violated any laws while the communications regulator is reviewing the matter, including questions of user compensation, officials said on Sunday. An initial probe on Sunday found electrical issues around battery racks in third basement floor of the data centre, which is operated by SK C&C (034730.KS), may have caused the fire. REPUTATIONAL HITThe Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. It said on Monday it would discuss compensation with data centre operator SK C&C for losses it and its key units have sustained.
Roblox will struggle to expand its user base and convert more users to paying customers, according to Barclays. Lu said there is potential for more than $800 million in advertising revenue, based on predictive models using Facebook, Youtube, Snapchat and Instagram performance. Average revenue per user is likely to remain "challenged," after spiking to 10 cents per hour during the pandemic, Lu said. Still, there are some reasons to like Roblox, Lu said. It has a "massive" total addressable market and likely margin upside from advertising revenue by 2025.
Humana (HUM) investor update meeting Thursday: much better than expected price targets: Full-year earnings per share $23.08, up from $20.30. Club holding Starbucks (SBUX): Deutsche Bank and Morgan Stanley raise price targets. Mizuho cuts price targets for Club holdings Nvidia (NVDA) and Advanced Micro Devices (AMD), because of a pending hypercomputing slowdown. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A pay dispute between rail workers and unions threatens a nationwide freight rail strike as early as September 16, 2022.
Richard Li’s IPO delay has some credibility value
  + stars: | 2022-09-14 | by ( ) www.reuters.com   time to read: +2 min
HONG KONG, Sept 14 (Reuters Breakingviews) - By a company’s fourth attempt to float, less hardy bosses might have given up. Not Hong Kong entrepreneur Richard Li, whose Asia-focused insurer FWD has refiled for an initial public offering in its home city some 15 months after it first dropped the Asian hub in favour of a tilt at New York. Plans in March for a Hong Kong offering were shelved amidst weak markets. Now it has updated that filing and says its measure of first-half operating profit has almost doubled since June last year. (By Jennifer Hughes)Follow @Breakingviews on TwitterRegister now for FREE unlimited access to Reuters.com Register(The author is a Reuters Breakingviews columnist.
T-Mobile US transmits clear signal to investors
  + stars: | 2022-09-09 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Sept 9 (Reuters Breakingviews) - T-Mobile US (TMUS.O) is sending a clear signal about the benefits of being bigger. The $182 billion company announced a $14 billion share buyback program on Thursday, reflecting the fact that both profit and subscriber numbers are rising. Fears that mobile prices would rise when T-Mobile acquired SoftBank’s Sprint have not materialized, allaying at least one of the potential objections to the merger. Last quarter, it raised its forecast for additional subscribers for this year to as high as 6.3 million from a previous high of 5.8 million. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
T-Mobile vs. Verizon: Is network speed or network coverage more important? T-Mobile Essentials vs. Verizon 5G Start plansPlan details T-Mobile Essentials Verizon 5G Start Price per month with automatic payments discounts included. T-Mobile Magenta vs. Verizon 5G Play More and 5G Do More plansPlan details T-Mobile Magenta Verizon 5G Play More Verizon 5G Do More Price per month with automatic payments discounts included. T-Mobile Magenta Max vs. Verizon 5G Get More plansPlan details T-Mobile Magenta Max Verizon 5G Get More Price per month with automatic payments discounts included. It provides fast data speeds, but its limited capacity results in slower data speeds, especially in congested areas like major cities.
Persons: , Alex Potemkin, Dong Wenjie, it's, Price, It's, You've, Antonio Villas, Ookla's, you've Organizations: Mobile, Verizon, Service, Hulu, Disney Plus, ESPN, Fastest Mobile Networks, Getty, Verizon's 5G Nationwide, LTE, Nationwide Mobile, Paramount, Disney, Apple Music, Apple, People, Mobile Magenta Verizon, Nationwide, 5G Nationwide Mobile, International, U.S, AAA, Netflix, Apple Arcade, Google, ESPN Plus, Mobile Magenta Max, Mobile Magenta Max Verizon, Boas, Samsung Locations: Mexico, Canada, U.S
Facebook will experience its slowest growth ever in 2021 at just 0.8%. In 2021, the number of monthly Facebook users in the US will increase by less than 1% year over year, the platform's lowest annual growth rate to date. In 2021, the number of monthly Facebook users in the US will increase by less than 1% YoY. While the platform will gain 19.4 million users ages 25 and older between 2019 and 2025, it will lose 4.1 million users ages 12 to 24 during that time frame. Its sister property Instagram ranks second with 118.9 million monthly users expected this year, followed by Pinterest with 91.1 million.
This is a preview of Insider Intelligence's 2021 Canada Mobile Banking Emerging Features Benchmark, available exclusively to subscribers. The Canadian banks that offer the most desirable mobile banking app features in 2021 are RBC, TD Canada, and BMO, according to the inaugural Insider Intelligence Canada Mobile Banking Emerging Features Benchmark. The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark examines the offerings of the seven largest Canadian FIs by assets to determine which banks best meet customer demand for advanced mobile banking features. The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark ranks the seven largest Canadian financial institutions by assets according to the strength of their mobile banking capabilities. The Canada Mobile Banking Emerging Features Benchmark covers Banque Nationale, BMO, CIBC, Desjardins, RBC, Scotiabank, and TD.
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