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Yelp (YELP.N) and News/Media Alliance, which are not defendants in the litigation but are targets of Google's subpoenas, argue that law firm Paul, Weiss, Rifkind, Wharton & Garrison should be disqualified. A spokesperson for Paul Weiss said the "firm's representation of Google is appropriate in all respects." Yelp said it hired Paul Weiss in 2016 for counsel on antitrust issues. The Justice Department's antitrust head, Jonathan Kanter, was on the Paul Weiss team representing Yelp. New York-based Paul Weiss, which has about 1,000 lawyers globally, is also representing Amazon.com in various antitrust lawsuits.

Persons: Gonzalo Fuentes, Paul, Weiss, Garrison, Leonie Brinkema, Paul Weiss, Yelp, Jonathan Kanter, Charles Molster III, Brandon Kressin, Brinkema, Kanter, Mike Scarcella, Leigh Jones, Rami Ayyub Organizations: Google, Viva Technology, Porte de, REUTERS, Media Alliance, Yelp, U.S, Google LLC, Eastern, of, Thomson Locations: Porte, Paris, France, U.S, Rifkind, Wharton, New York, States, of Virginia

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

☆ Thailand's new PM meets Tesla chief Musk in New York
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsBANGKOK, Sept 21 (Reuters) - Thailand's new Prime Minister Srettha Thavisin said on Thursday he met with Tesla (TSLA.O) chief Elon Musk in New York, where they discussed the electric vehicle industry. Srettha, who is in New York to attend the United Nations General Assembly, said he spoke with Musk about EV manufacturer Tesla and his rocket and satellite company SpaceX, including its internet venture Starlink. Around half of all regional EV sales are from Thailand, followed by Vietnam and Indonesia, with Chinese carmakers like BYD leading by a wide margin. Tesla, also popular in Thailand, launched models in the growing market last year.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Srettha Thavisin, Tesla, Asia's, Srettha, Chayut Setboonsarng, Jane Merriman, Richard Chang Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Rights, EV, United Nations General Assembly, Twitter, Toyota, Honda, Thomson Locations: Paris, France, Rights BANGKOK, New York, Thailand, Southeast Asia, Japanese, Vietnam, Indonesia, Asia

☆ Portugal's telecom watchdog working with operators to bar Huawei
▼ + stars: | 2023-09-18 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsLISBON, Sept 18 (Reuters) - Portugal's telecom watchdog said on Monday it is working with operators to implement a high-level resolution which effectively bars Huawei's equipment from the country's 5G mobile networks, despite legal objections from the Chinese company. Huawei filed a lawsuit with a Lisbon court against the resolution at the end of August, seeking "protection of its legitimate interests and legal rights under the law". Portugal's main operators, Altice, NOS (NOS.LS) and Vodafone (VOD.L) have already said they will not use Huawei equipment in 5G core networks, amid European and U.S. concerns that Chinese involvement in critical infrastructure could compromise security. "It is work that is ongoing and we hope that it will be carried out successfully. We can assure the Portuguese that we are also working together with the operators", he added.

Persons: Benoit Tessier, Joao Cadete de Matos, Matos, Mario Campolargo, Sergio Goncalves, Alexander Smith Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Rights, Portugal's, Huawei, Vodafone, Reuters, Thomson Locations: Porte, Paris, France, Rights LISBON, Portuguese, Lisbon, Beijing

☆ Erdogan asks Musk to build Tesla factory in Turkey
▼ + stars: | 2023-09-17 | by ( Chandni Shah | ) www.reuters.com time to read: +1 min

Elon Musk gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsSept 17 (Reuters) - Turkish President Recep Tayyip Erdogan asked Tesla (TSLA.O) CEO Elon Musk to build a Tesla factory in Turkey, Anadolu Agency posted on social media platform X on Sunday. Erdogan asked Musk during a meeting at Turkish House, a skyscraper near the United Nations in New York, the Turkish state-owned news agency said. Musk posted on X that their talks would focus on artificial intelligence technology. Erdogan is in the U.S. to attend the 78th session of the United Nations General Assembly.

Persons: Elon, Porte, Gonzalo Fuentes, Recep Tayyip Erdogan, Tesla, Elon Musk, Erdogan, Musk, Benjamin Netanyahu, Chandni Shah, Lisa Shumaker Organizations: Viva Technology, Porte de, REUTERS, Anadolu Agency, Turkish, United Nations, United Nations General Assembly, Thomson Locations: Paris, France, Turkish, Turkey, New York, California, U.S, India, Mexico, Nuevo Leon, Washington, Bengaluru

☆ Alphabet lays off hundreds from global recruitment team
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Benoit Tessier Acquire Licensing RightsSept 13 (Reuters) - Google parent Alphabet (GOOGL.O) is laying off employees from its global recruiting team as the tech giant continues to slow hiring, it said on Wednesday. The company's decision to let go of a few hundred employees is not part of a wide-scale layoff and will retain a significant majority of the team for hiring critical roles. It will also help the workers search for roles within the company and elsewhere. California-based Alphabet cut about 12,000 jobs in January, reducing its workforce by 6%. Reporting by Arsheeya Bajwa and Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, sprees, Arsheeya Bajwa, Akash Sriram, Devika Organizations: Google, Viva Technology, Porte de, REUTERS, Tech, Microsoft, Reuters, Thomson Locations: Porte, Paris, France, sprees . California, U.S, Bengaluru

☆ Binance.US says CEO Shroder to depart, 100 jobs will be cut
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A logo on the Binance exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. Shroder will be replaced by general counsel Norman Reed, who joined the company in December 2021, on an interim basis. Binance and Binance.US have maintained that they operate separately. Its global head of product, Mayur Kamat, resigned early this month and its chief strategy officer, Patrick Hillmann, left in July. Reporting by Rishabh Jaiswal, Chandni Shah and Juby Babu in Bengaluru; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Brian Shroder, Norman Reed, Binance.US, Changpeng Zhao, Binance, Kamat, Patrick Hillmann, Rishabh Jaiswal, Chandni Shah, Juby Babu, Edwina Gibbs Organizations: Viva Technology, Porte de, REUTERS, U.S, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Porte, Paris, France, Bengaluru

☆ Before Elon Musk, Twitter rarely lobbied against state laws. Now X is suing California over one
▼ + stars: | 2023-09-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Elon Musk, chief executive officer of SpaceX and Tesla and owner of Twitter, at the Viva Technology conference in Paris, France, June 16, 2023. Musk took control of X Corp., known at the time as Twitter, in October in a deal worth over $40 billion. This year, however, X has spent more than $500,000 combined on federal and state lobbying, according to data from the nonpartisan OpenSecrets. They spent more than $80,000 on lobbying California state lawmakers since 2021, with a partial focus on Gabriel's bill, according to the public records. A search through the federal court database shows the social media company was never a plaintiff challenging state laws in the years prior to the recent lawsuit against California.

Persons: Elon Musk, Elon, Musk, Jesse Gabriel, Gabriel, Gavin Newsom, X's, X Organizations: SpaceX, Tesla, Twitter, Viva Technology, X Corp, Democratic, CNBC, Gov, Big Tech Locations: Paris, France, California

☆ China's Huawei says it has reached global patent licensing deal with Xiaomi
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A logo of Huawei Technologies is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - China's Huawei Technologies inked on Wednesday a global patent cross-licensing deal with Xiaomi Inc (1810.HK), according to a statement from Huawei. The deal covers communication technologies including 5G, it said, and marks the resolution of a patent licensing dispute between the two firms. Local Chinese media reported in March that Huawei was suing Xiaomi for alleged infringement of four registered patents mainly related to wireless communication technology, smartphone photography and screen lock technology. Huawei also has patent license agreements with other tech players such as Oppo and South Korea's Samsung (005930.KS).

Persons: Benoit Tessier, Xiaomi, Clarence Fernandez, Tom Hogue Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Rights, Xiaomi Inc, HK, Huawei, Local, Samsung, Ericsson, Beijing, Thomson Locations: Porte, Paris, France, Rights BEIJING, South

Regarding Google communications about revenue sharing deals with companies like Apple: "They knew these agreements crossed antitrust lines." JOHN SCHMIDTLEIN, lead lawyer for Google:Defending Google's 90% market share in search: "The large majority of Windows PC users search on Google, not (Microsoft's) Bing." Regarding the market place for search engines: "Users today have more search options and more ways to access information online than ever before." Discussing Apple's and Mozilla's competitions to pick best search engines: "Google won these competitions on the merits." Describing how easy it is to replace Google with a different search engine: "A few easy clicks."

Persons: Gonzalo Fuentes, KENNETH DINTZER, JOHN, Bing, Diane Bartz, Richard Chang Organizations: Google, Viva Technology, Porte de, REUTERS, Microsoft, WASHINGTON, U.S . Justice, Apple, Windows, Thomson Locations: Porte, Paris, France, States, Washington

☆ Elon Musk biographer moves to 'clarify' details about Ukraine and Starlink after backlash
▼ + stars: | 2023-09-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Author Walter Isaacson took to social media Friday night to try to "clarify" an excerpt from his upcoming book, "Elon Musk." The excerpt received swift backlash after it described how Musk thwarted a Ukrainian attack on Russian warships. Musk eventually soured on the arrangement and said "Starlink was not meant to be involved in wars," according to the book. "They asked Musk to enable it for their drone sub attack on the Russian fleet. Isaacson's X post came after a top aide to Ukraine President Volodymyr Zelenskyy lashed out at Musk over the excerpt.

Persons: Elon Musk, Porte, Walter Isaacson, Musk, Starlink, Isaacson, Volodymyr Zelenskyy, Mykhailo Podolyak, Isaacson's, — CNBC's Amanda Macias Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Russian, CNN, Washington Post Locations: Paris, France, Russian, Crimea, Ukrainian, Ukraine, Western, Russia, Washington

A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Meta Platforms Inc FollowSept 8 (Reuters) - A U.S. federal judge said Meta Platforms (META.O) must face a lawsuit claiming that it violated the medical privacy of patients who were treated by hospitals and other healthcare providers that used its Meta Pixel tracking tool. According to the plaintiffs, Meta Pixel provided sensitive information about their health to Meta when they logged into patient portals, where the tracking tool had been installed, enabling Meta to make money from targeted advertising. When the litigation began in June 2020, lawyers for one plaintiff said they had found at least 664 hospitals and other healthcare providers that used Meta Pixel. The case is In re Meta Pixel Healthcare Litigation, U.S. District Court, Northern District of California, No.

Persons: Benoit Tessier, William Orrick, Meta, Orrick, John Doe, Jane Doe, Jonathan Stempel, Jason Neely Organizations: Meta, Inc, Viva Technology, Porte de, REUTERS, U.S, Facebook, Menlo, Healthcare, Court, Northern District of, Thomson Locations: Porte, Paris, France, San Francisco, California, Menlo Park , California, Northern District, Northern District of California, New York

☆ SAP buys software management company LeanIX
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: 1 min

A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSTOCKHOLM, Sept 7 (Reuters) - German business software maker SAP (SAPG.DE) on Thursday said it has bought software management company LeanIX from investors to boost its business transformation portfolio. LeanIX investors include Insight Partners, Deutsche Telekom Capital Partners, Capnamic Ventures, Iris Capital, Goldman Sachs and Dawn CapitalThe transaction is expected to close in the fourth quarter. Terms of the deal were not disclosed. Reporting by Supantha Mukherjee in Stockholm, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Iris Capital, Goldman Sachs, Supantha Mukherjee, Terje Solsvik Organizations: Viva Technology, Porte de, REUTERS, Rights, SAP, Insight Partners, Deutsche Telekom Capital Partners, Capnamic Ventures, Iris, Dawn, Thomson Locations: Porte, Paris, France, Rights STOCKHOLM, Stockholm

☆ Ukraine rips Elon Musk for disrupting sneak attack on Russian fleet with Starlink cutoff
▼ + stars: | 2023-09-07 | by ( Amanda Macias | ) www.cnbc.com time to read: +3 min

WASHINGTON — A Ukrainian official slammed Tesla and SpaceX CEO Elon Musk for ordering engineers to shut off Starlink's satellite network over Crimea last year in order to thwart a Ukrainian attack on Russian warships. The book, titled "Elon Musk," will be released Tuesday. In Ukraine, Starlink has worked as the connective tissue for crucial battlefield communications. Musk, according to Isaacson, was also engaged in a texting conversation with Fedorov. The official pleaded with Musk to restore Starlink's connectivity so that Ukrainian submarine drones could carry out the attack on Russia's warship fleet.

Persons: Elon Musk, Porte, WASHINGTON, Musk, Walter Isaacson, Starlink, Isaacson, Volodymyr Zelenskyy, Mykhailo Podolyak, Mykhailo Fedorov, Joe Biden's, Jake Sullivan, Mark Milley, Fedorov Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, WASHINGTON —, Ukrainian, Netflix, Russian, CNN, Joint Chiefs, Staff U.S, Army Locations: Paris, France, Crimea, Russian, Ukraine, Russia, Ukrainian

☆ Elon Musk borrowed $1 bln from SpaceX in same month of Twitter deal - WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

SpaceX approved the $1 billion loan, which was backed by some of Musk's SpaceX stock, in October and Musk drew all of it down the same month, according to the report, citing documents. SpaceX had $4.7 billion in cash and securities on hand at the end of last year, the paper said, citing documents. Both SpaceX and X did not immediately respond to a Reuters request for comment. Elon Musk sold a massive chunk of his Tesla shares in 2022, both before and after the Twitter deal, bringing his total sales to about $40 billion which frustrated investors in the EV maker. In addition to Tesla and X, Musk is a co-founder of brain-chip startup Neuralink.

Persons: Porte, Gonzalo Fuentes, Elon Musk, Musk, Tesla, Nilutpal Timsina, Mrinmay Dey, Sherry Jacob, Phillips, Eileen Soreng Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Twitter, Wall Street, Federal Communications Commission, Thomson Locations: Paris, France, Bengaluru

☆ Elon Musk borrowed $1 billion from SpaceX in same month of Twitter deal, Wall Street Journal reports
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Sept 5 (Reuters) - Elon Musk withdrew a loan of $1 billion from SpaceX - the two-decade-old rocket company run by the billionaire - around the same time he was acquiring Twitter, now known as X, for $44 billion, the Wall Street Journal reported on Tuesday. SpaceX approved the $1 billion loan, which was backed by some of Musk's SpaceX stock, in October and Musk drew all of it down the same month, according to the report, citing documents. SpaceX had $4.7 billion in cash and securities on hand at the end of last year, the paper said, citing documents. REUTERS/Gonzalo Fuentes Acquire Licensing RightsBoth SpaceX and X did not immediately respond to a Reuters request for comment. In addition to Tesla and X, Musk is a co-founder of brain-chip startup Neuralink.

Persons: Elon Musk, Musk, Tesla, Porte, Gonzalo Fuentes, Nilutpal Timsina, Mrinmay Dey, Sherry Jacob, Phillips, Eileen Soreng Organizations: SpaceX, Twitter, Wall Street, Federal Communications Commission, Tesla, Viva Technology, Porte de, REUTERS, Thomson Locations: Paris, France, Bengaluru

☆ Elon Musk blames ADL for lost revenue, says he opposes antisemitism 'of any kind'
▼ + stars: | 2023-09-05 | by ( Doha Madani | ) www.cnbc.com time to read: +5 min

Elon Musk on Monday posted that he was against antisemitism and blamed the Anti-Defamation League for lost advertising revenue since his acquisition of X, formerly known as Twitter. "If this continues, we will have no choice but to file a defamation suit against, ironically, the 'Anti-Defamation' League," Musk wrote. An email to attorneys representing Musk and X asking whether a complaint has been drafted was not immediately returned. X filed a lawsuit last month against the Center for Countering Digital Hate (CCDH), a nonprofit organization that monitors hate speech and disinformation. The ADL also posted a report in March accusing the platform of failing to take action against hate speech.

Persons: Elon Musk, Porte, Musk, CCDH, Imran Ahmed, Ahmed Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Defamation League, ADL, Defamation, League, NBC, Center, Northern, Northern District of, ADL Center for Technology, Society, Montclair State University, GLAAD, Social Media Locations: Paris, France, U.S, America, Northern District, Northern District of California

☆ Renault CEO: China very competitive on electric vehicles, Europe needs to catch up
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

The Renault logo on the Renault Scenic Vision concept-car is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsPARIS, Sept 4 (Reuters) - Renault's (RENA.PA) chief executive Luca de Meo said on Monday that China was 'very competitive' in terms of the electric vehicle market, as Renault also prepared to unveil its new Scenic electric vehicle car model. "China is very competitive when it comes to the supply chain of electric vehicles....we need to catch up fast," De Meo told RTL Radio, speaking from the IAA Munich car show. De Meo added that Renault would unveil the prices for its new Scenic minivan later in the year, with a launch planned in the first quarter of 2024. The Scenic will be within the price range for many customers, similar to a hybrid model of the same size and category, he said.

Persons: Porte, Benoit Tessier, Luca de Meo, De Meo, Tassilo Hummel, Sudip Kar Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, RTL Radio, IAA, Gupta, Thomson Locations: Paris, France, China, IAA Munich

☆ Renault cannot afford discount race with Tesla, Chinese peers, executive says
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: 1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsMUNICH, Sept 3 (Reuters) - Renault (RENA.PA) cannot afford to enter a discount race with Tesla (TSLA.O) or Chinese rivals, the French carmaker's head of engineering told journalists at the IAA Munich car show. "The good strategy is to maintain prices and to adjust fixed costs," Gilles Le Borgne said. Renault's high exposure to Europe makes it one of the most exposed names to new competition from Tesla and Chinese rivals in electric vehicles, UBS wrote in a note this week. Reporting by Gilles Guillaume; Writing by Christoph Steitz; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Gilles Le Borgne, Gilles Guillaume, Christoph Steitz, Paul Simao Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, IAA, UBS, Thomson Locations: Porte, Paris, France, French, IAA Munich, Europe

☆ Tesla reportedly facing DOJ, SEC probes over plans to build Elon Musk a large glass house
▼ + stars: | 2023-08-31 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla is reportedly facing two new federal probes over possible misuse of company resources by or for the personal benefit of CEO Elon Musk. However, the new probes add to a litany of other investigations that Tesla is facing from state and federal regulators. Following that revised settlement agreement, the SEC has issued subpoenas to Tesla concerning its governance processes and compliance in regards to their settlement agreement. Tesla also disclosed in its second-quarter financial filing for 2023 that the DOJ has sought documents "related to Tesla's Autopilot and FSD features." The NHTSA investigation was initiated after a string of crashes in which Tesla vehicles with Autopilot systems installed reportedly crashed into stationary first responders' vehicles.

Persons: Elon Musk, Porte, Tesla, Elon, Musk Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Street Journal, U.S, Attorney's, Southern, of, Securities and Exchange Commission, Manhattan, Reuters, Manhattan federal, SEC, CNBC, National, Traffic Safety Administration, National Transportation Safety Board, Department of Justice, DOJ, Highway Transportation, Safety Administration, Beta, NHTSA Locations: Paris, France, of New York, Austin , Texas

☆ Salesforce lifts annual forecast as business software demand stays strong
▼ + stars: | 2023-08-30 | by ( Zaheer Kachwala | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier Acquire Licensing RightsAug 30 (Reuters) - Salesforce (CRM.N) raised its annual revenue forecast on Wednesday and projected quarterly sales above estimates as it benefits from a recent price hike and resilient demand for its cloud and business software offerings in an uncertain economy. The company expects revenue to be between $8.70 billion and $8.72 billion in the third quarter, compared with estimates of $8.66 billion, according to Refinitiv data. Its quarterly earnings per share forecast was also above estimates. Salesforce also bumped up its annual revenue forecast to between $34.7 billion and $34.8 billion, from the $34.5 billion to $34.7 billion range given in May. In the second quarter, revenue came in at $8.60 billion, beating expectations of $8.53 billion.

Persons: Porte, Benoit Tessier, Salesforce, Slack, Einstein, Marc Benioff, Charlie Miner, Zaheer Kachwala, Maju Samuel Organizations: Viva Technology, Porte de, REUTERS, Google, Thomson Locations: Paris, France, Bengaluru

☆ Salesforce forecasts third-quarter revenue above estimates
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier Acquire Licensing RightsAug 30 (Reuters) - Salesforce (CRM.N) projected third-quarter revenue above Wall Street estimates on Wednesday as it benefits from a recent price hike and resilient demand for its cloud and business software offerings in an uncertain economy. The company said it expects revenue to be between $8.70 billion and $8.72 billion in the current quarter, compared with estimates of $8.66 billion, according to Refinitiv data. Salesforce has also tried to buttress demand by rolling out artificial intelligence offerings such as Tableau and Slack, after it invested billions of dollars over the past few years in developing such tools. Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Porte, Benoit Tessier, Salesforce, Zaheer Kachwala, Maju Samuel Organizations: Viva Technology, Porte de, REUTERS, Google, Thomson Locations: Paris, France, San Francisco, Bengaluru

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsAug 30 (Reuters) - A California federal judge has refused to dismiss a lawsuit accusing X, the social media service formerly called Twitter, of disproportionately laying off older workers when Elon Musk acquired the company last year. Zeman, for example, claims X laid off 60% of workers who were 50 or older and nearly three-quarters of those who were over 60, compared with 54% of employees younger than 50. The judge dismissed a claim that X intentionally targeted older workers for layoffs, but gave Zeman a month to file an amended lawsuit fleshing out that claim. The lawsuit is one of about a dozen X is facing stemming from Musk's decision to lay off about half of Twitter's workforce beginning last November. Liss-Riordan also represents about 2,000 former Twitter employees who have filed similar legal claims against the company in arbitration.

Persons: Porte, Gonzalo Fuentes, X, Elon Musk, Susan Illston, John Zeman, Zeman, Illston, Shannon Liss, Riordan, Zeman's, Liss, Daniel Wiessner, Andrea Ricci Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Twitter, Elon, U.S, Thomson Locations: Paris, France, California, Albany , New York

REUTERS/Gonzalo Fuentes Acquire Licensing RightsWASHINGTON, Aug 28 (Reuters) - U.S. Senate Majority Leader Chuck Schumer will host tech leaders including Tesla (TSLA.O) CEO Elon Musk, Meta Platforms (META.O) CEO Mark Zuckerberg and Alphabet (GOOGL.O) CEO Sundar Pichai at an artificial intelligence forum on Sept. 13, Schumer's office said on Monday. The closed-door forum will also feature OpenAI CEO Sam Altman and Microsoft (MSFT.O) CEO Satya Nadella, according to Schumer's office, which added the forum will be bipartisan. In June, Schumer hinted that he would host a forum to "lay down a new foundation for AI policy." The risks of artificial intelligence to national security and the economy need to be addressed, U.S. President Joe Biden said in June, adding he would seek expert advice. Biden has also recently discussed the issue of AI with other world leaders, including British Prime Minister Rishi Sunak whose government will later this year hold a first global summit on artificial intelligence safety.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Chuck Schumer, Mark Zuckerberg, Sundar Pichai, Sam Altman, Satya Nadella, Schumer, Joe Biden, Biden, Rishi Sunak, Richard Cowan, Kanishka Singh, Jasper Ward, Matthew Lewis, David Gregorio Our Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Rights, U.S, Microsoft, Senate Democrats, Regulators, British, Thomson Locations: Paris, France, Washington

☆ Payouts expected from Elon Musk's SEC settlement
▼ + stars: | 2023-08-24 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The "fair fund" was created under a settlement arising from Musk's August 2018 tweet that he had "funding secured" for a Tesla buyout at a premium. The fund was originally $40 million, with Musk and Tesla each contributing $20 million. The SEC settlement also included a consent decree under which Musk gave up his role as Tesla's chairman and agreed to let a Tesla lawyer approve some of his Twitter posts. Musk is expected to appeal that decision to the U.S. Supreme Court. The case is SEC v Musk et al, U.S. District Court, Southern District of New York, No.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, District Judge Lewis Liman, Jonathan Stempel, Jonathan Oatis Organizations: Elon, SpaceX, Tesla, Viva Technology, Porte de, REUTERS, U.S . Securities, Exchange Commission, U.S, District, SEC, Forbes, Twitter, Supreme, Court, Southern District of, Thomson Locations: Paris, France, Manhattan, U.S, Southern District, Southern District of New York, New York

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