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☆ All eyes on Lyft's new CEO as Wall Street awaits turnaround plan
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

May 1 (Reuters) - Lyft Inc's (LYFT.O) revenue growth is likely to lag bigger rival Uber Technologies Inc (UBER.N) for the sixth straight quarter, with Wall Street eagerly looking forward to a turnaround plan from its new CEO David Risher. Lyft is expected to share more details on its growth plan at the first-quarter earnings call on Thursday. Revenue growth at its delivery business is expected to come in at 21.3%, while ride-sharing revenue is set to jump nearly 62%. The company, which has promised profitability by 2023 end, is expected to report adjusted earnings before interest, taxes, depreciation, and amortization of about $676 million - the highest on record. Lyft, meanwhile, is expected to report an adjusted net loss of $29.1 million, compared with an adjusted profit of $24.6 million, a year earlier.

☆ Starbucks, Ford, Apple Lead Another Busy Earnings Week
▼ + stars: | 2023-04-30 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Starbucks is set for its first quarterly report under its new president. Photo: Mark Hertzberg/Zuma PressApple Inc., Marriott International Inc. and Starbucks Corp. are among the companies that will report quarterly results in coming days, offering a closer look at consumer spending habits in a slowing economy. Ride-hailing company Uber Technologies Inc., auto maker Ford Motor Co. and pharmacy chain CVS Health Corp. are also scheduled to report, as consumers face steady price increases and inflation shows few signs of retreating.

☆ Lyft to lay off more than 1,000 employees in cost-cut push
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

Risher, who took over earlier this month, had recently said the company will "significantly" cut jobs, without providing the number of jobs that would be affected. It will also take additional costs related to stock-based compensations, which it said cannot be estimated at the time. The money saved from job cuts will be used to support "service-level improvements" for riders and drivers, Lyft said, promising to offer more details in its first-quarter earnings call on May 4. This is the second round of job cuts by Lyft, which faces competition from bigger rival Uber Technologies Inc (UBER.N) in a slowing economy. It had laid off about 683 employees, or 13% of its then workforce, in November.

The Democrat-led Senate Health, Education, Labor and Pensions Committee voted 11-10 to approve Su, a civil rights lawyer and former California labor commissioner who has served as a deputy labor secretary since 2021. If Su is confirmed, she will replace Marty Walsh, who stepped down as labor secretary last month to become executive director of the National Hockey League players' union. Using contractors can be up to 30% cheaper for companies than employees. Industry groups representing companies in the ride-hailing, delivery and other sectors using contractors have launched an aggressive campaign to oppose Su's nomination. “The next Labor Secretary must embrace the flexible earning opportunities that app-based platforms have unleashed for millions of Americans," Sharp said.

Circuit Court of Appeals said that Uber drivers do not qualify for an exemption from the arbitration law for workers involved in interstate commerce because they rarely cross state lines when transporting passengers. The Federal Arbitration Act requires the enforcement of agreements to bring employment-related disputes in arbitration rather than court, but exempts transportation workers engaged in interstate commerce. A majority of private-sector U.S. workers, and most Uber drivers, have signed such agreements. The 3rd Circuit on Wednesday said evidence presented in the case showed that nearly two-thirds of Uber drivers never cross state lines, and only 2.5% of Uber trips are interstate. "Take away interstate trips, and the fundamental character of Uber drivers' work remains the same," Circuit Judge Anthony Scirica wrote for the court.

[1/4] South Korean President Yoon Suk Yeol delivers remarks to the U.S.-Korea Business Council at the U.S. Chamber of Commerce in Washington, D.C., U.S., April 25, 2023. He said the two countries' economies had been facing new challenges and the economic slowdown was unsettling the investment environment. "Competition for technological hegemony, energy issues and climate crises are casting more uncertainties on business activity day by day," Yoon said. "This cooperation should extend beyond semiconductors to future emerging technologies such as AI, Quantum, SMR (Small Modular Reactors) and more," Yoon said. Core technologies from the United States and South Korea's advanced manufacturing capabilities would "create enormous synergies that will benefit both countries," he said.

[1/2] A Vietnamese officer tries a weapon at the stalls of Czech security firms, including Colt, at the Vietnam International Defence Expo 2022 in Hanoi, Vietnam, December 8, 2022. REUTERS/Khanh VuHANOI, April 24 (Reuters) - Vietnam is in talks with the Czech Republic for military supplies, including aircraft, radars, upgrades of armoured vehicles and firearms, a Czech government source told Reuters, as Hanoi aims at diversifying its mostly Russian arsenal. Hanoi ordered a dozen L-39NG light-combat aircraft in 2021 from Czech manufacturer Aero Vodochody, with delivery to begin this year. Of the 15 companies that composed the Czech business delegation, four were security firms. The Vietnam foreign ministry and the Czech embassy in Hanoi had no immediate comment.

☆ Is this solar panel American? Companies eyeing US subsidy await rules
▼ + stars: | 2023-04-24 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

[1/2] Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, U.S. August 17, 2022. Their main question: will solar panels qualify if they are assembled in the United States using components made overseas? In February, top U.S. solar manufacturer First Solar Inc (FSLR.O) said it would delay further expansion decisions until Treasury releases its guidelines. A manufacturing group, Solar Energy Manufacturers for America (SEMA), said both manufacturers and developers want clear rules that will fuel growth. A potential approach could be to allow the bonus credit to apply to domestically available goods, with that standard changing over a set timeline.

☆ Data company Palantir to help Ukraine prosecute alleged Russian war crimes
▼ + stars: | 2023-04-22 | by ( Jeffrey Dastin | Thomson Reuters | Jeffrey Dastin Is A Technology Correspondent For Reuters Based In San Francisco | ) www.reuters.com time to read: +2 min

April 22 (Reuters) - Ukraine plans to deploy software from U.S. data analytics provider Palantir Technologies Inc (PLTR.N) to help it prosecute alleged war crimes committed by Russia, the company told Reuters. Palantir, which has supplied Ukraine with systems to help it target Russian tanks and support refugees, is now working with the prosecutor general's office to help investigators across Europe pool and process data, the company said. Moscow has denied attacking civilians or perpetrating war crimes. Any successful war crimes prosecution will require Ukraine to navigate overlapping court jurisdictions and furnish evidence despite often restricted access to suspects or crime scenes. A U.N.-mandated investigative body last month accused Russia of war crimes, though its chair said it had not found evidence of genocide, which is being investigated by Ukraine.

☆ Lyft to 'significantly' cut jobs in new CEO's first major move
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Lyft Inc (LYFT.O) CEO David Risher said on Friday the ride-hailing company will "significantly" cut jobs in another round of layoffs to reduce costs, sending its shares up about 4%. Lyft could see costs slashed by half after the layoffs, the WSJ report said. The companies' last reported results showed that Uber's global presence and more diversified businesses were giving it an edge over U.S.-focused Lyft. Lyft's stock had fallen about 11% this year, compared with Uber's price gain of 27.5%, as of Thursday's close. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Wall Street closed lower on Friday after mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. "Regional bank earnings will come in very slightly positive, while bigger banks will probably post surprisingly positive results." Other major U.S. banks including Goldman Sachs Group Inc (GS.N), Bank of America Corp (BAC.N) and Morgan Stanley (MS.N) will report through the week. ET, Dow e-minis were up 35 points, or 0.10%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 3.75 points, or 0.03%. Prometheus Biosciences Inc (RXDX.O) rallied 69.9% after Merck & Co (MRK.N) said it will buy the biotech company for about $10.8 billion.

☆ Futures subdued as investors eye bank earnings, Fed cues
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.07%, S&P 0.10%, Nasdaq 0.01%April 17 (Reuters) - U.S. stock index futures were largely flat on Monday as investors awaited more bank earnings and views from Federal Reserve policymakers that could shape expectations around when the central bank will pause its monetary policy tightening. Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. U.S. central bank officials including New York Fed President John Williams and Cleveland Fed President Loretta Mester are scheduled to speak later this week. ET (1230 GMT) is expected to show business conditions in New York state improved in April after slumping in the previous month. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 4.25 points, or 0.10%, and Nasdaq 100 e-minis were up 1 point, or 0.01%.

☆ Parler Set to Be Shut Down Temporarily by New Owner
▼ + stars: | 2023-04-14 | by ( Sarah E. Needleman | ) www.wsj.com time to read: 1 min

Parler, founded in 2018 and pitched as an alternative to Twitter, has grown in popularity among conservatives. Parler , a social network that was popularized by supporters of former President Donald Trump, has been sold to a buyer that plans to temporarily shut it down. Parent company Parlement Technologies Inc. said Friday it has agreed to sell Parler to digital media company Starboard , months after an acquisition agreement with rapper Kanye West fell apart. The platform will go offline while Starboard, which recently changed its name from Olympic Media, develops a plan to eventually relaunch a revamped version of the site.

☆ Conglomerate Starboard buys Parler, to shut down social media app temporarily
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Digital media conglomerate Starboard said on Friday it has bought Parler for an undisclosed sum and will temporarily shut down the social media app popular with U.S. conservatives to give itself time to roll out a revamped version of the platform. Starboard, formerly Olympic Media, founded in 2018 houses conservative-leaning platforms American Wire and BizPac Review. The Arlington, Virginia-based conglomerate did not immediately respond to a Reuters request for details on terms of the deal. Parler is one of several social media platforms, from among Gettr, Gab and Truth Social, that have positioned themselves as free-speech alternatives to Twitter Inc prior to its $44 billion acquisition by billionaire and Tesla CEO Elon Musk. "No reasonable person believes that a Twitter clone just for conservatives is a viable business any more," Starboard added.

☆ Having one of these in-demand tech skills can help boost your pay by nearly $40,000—here's how
▼ + stars: | 2023-04-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

The only thing standing between you and a pay bump of almost $40,000 could be a certificate in machine learning. U.S. workers with advanced tech skills earn about 49% more than workers who don't use tech skills in their jobs, according to newly released research from Gallup and Amazon Web Services (AWS), which surveyed more than 3,000 U.S. workers and 1,170 U.S. employers in August 2022. As the development and adoption of new technologies continue at a breakneck pace, the need for digitally savvy workers is "greater than ever," the report notes. Those who consider digital upskilling stand to reap major benefits from this trend: At least four in 10 U.S. workers say learning new digital skills helped them boost their pay (43%), work more efficiently (42%), or get promoted (40%). Here are the 10 tech skills employers say are "extremely likely" to become stand parts of doing business — and the most in-demand skills they are hiring for — according to AWS and Gallup:

☆ Emerson Electric to buy NI Corp for $8.2 bln to deepen automation push
▼ + stars: | 2023-04-12 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - U.S. industrial conglomerate Emerson Electric Co (EMR.N) said on Wednesday it will buy measurement tools maker NI Corp (NATI.O) for $8.2 billion in a bid to boost its automation capabilities. The purchase will allow Emerson to tap NI's software-connected automated test and measurement systems for higher growth and margins in its automation portfolio. Emerson has executed a string of deals over the last few years to streamline itself into an industrial automation provider. The NI deal is expected to close in the first half of Emerson's fiscal 2024. Goldman Sachs & Co LLC and Centerview Partners LLC were financial advisers to Emerson on the deal, while Davis Polk & Wardwell LLP was its legal adviser.

☆ Emerson Electric to buy NI for $8.2 bln to deepen automation push
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 12 (Reuters) - U.S. industrial conglomerate Emerson Electric Co (EMR.N) on Wednesday said it would buy measurement tools maker NI Corp (NATI.O) for $8.2 billion in an effort to boost its automation capabilities. Emerson has executed a string of deals over the last few years to streamline itself into an industrial automation provider. The NI deal is expected to close in the first half of Emerson's fiscal 2024. Shares of Emerson, which already owns an about 2% stake in NI, fell more than 2% to $82.55 in premarket trade. NI launched a formal sale process in January after Emerson threatened to challenge its board if it did not engage in deal negotiations.

Emerson outbid other bidders including Fortive Corp (FTV.N) and Keysight Technologies Inc (KEYS.N) in the final stages of a sale process for National Instruments with an offer of about $60 per share, the sources said. National Instruments launched a formal sale process in January after Emerson threatened to challenge its board if it did not engage in deal negotiations. Emerson dropped its hostile bid once the auction for National Instruments got underway. Reuters first reported in March that Emerson, Fortive and Keysight were through to the final round of bidding for National Instruments, after breaking news of Emerson's interest in January. Austin, Texas-based National Instruments specializes in the production of automated testing and measurement tools for the semiconductor, transportation, aerospace and defense industries.

☆ Emerson Electric to buy NI Corp for $8.2 billion in automation push
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - U.S. industrial conglomerate Emerson Electric Co (EMR.N) on Wednesday said it would buy measurement equipment maker NI Corp (NATI.O) for $8.2 billion in an effort to boost its automation capabilities. The purchase of Texas-based NI, which provides software-connected automated test and measurement systems, will help Emerson achieve a higher-growth and higher-margin automation portfolio. NI launched a formal sale process in January after Emerson threatened to challenge its board if it did not engage in deal negotiations. Reuters reported on Tuesday that Emerson was in advanced talks to acquire NI. Goldman Sachs & Co LLC and Centerview Partners LLC are serving as financial advisors to Emerson, while Davis Polk & Wardwell LLP is serving as legal advisor.

☆ Factbox: Governments' efforts to regulate AI tools
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +3 min

April 12 (Reuters) - Italy's data protection agency said on Wednesday it would lift its temporary ban on OpenAI's ChatGPT artificial intelligence (AI) technology if the U.S. company complied with data protection and privacy demands by end-April. Rapid advances in AI such as Microsoft-backed OpenAI's ChatGPT are complicating governments' efforts to agree on laws governing the use of the technology. Lawmakers have proposed classifying different AI tools according to their perceived level of risk, from low to unacceptable. On Wednesday, its data protection agency set an end-April deadline for OpenAI to meet its demands on data protection and privacy before the service can be resumed in the country. SPAINSpain's data protection agency has asked the EU's privacy watchdog to evaluate privacy concerns surrounding ChatGPT, the agency told Reuters on April 11.

[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Many teem with lithium, calcium and other minerals, and DLE technologies aim to separate out the lithium and leave the rest. LITHIUM METAL FROM BRINEEnergyX has said its technology can make lithium metal directly from brine, a tantalizing prospect for GM that could let the automaker bypass lithium refining, which is widely seen as a key supply chain bottleneck. The EnergyX investment comes after GM in January agreed to pay $650 million to become the largest shareholder in Lithium Americas Corp (LAC.TO), which is developing the Thacker Pass clay lithium project in Nevada. "This GM investment will completely change the trajectory of EnergyX," said Teague Egan, the startup company's founder and chief executive.

☆ Global PC shipments slide in first quarter, Apple takes biggest hit, IDC says
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In separate reports published on Monday, market research firms IDC and Canalys blamed weak demand, excess inventory and a bleak economic outlook for the shipment declines of 29% and 33%, respectively. Of the top five PC makers analysed in the reports, Apple saw the largest drop with a fall of more than 40%. Both the research firms also predicted the market could start to recover later this year and gather momentum in 2024 if the economic outlook improves. "We expect significant market upside as consumers look to refresh, schools seek to replace worn-down Chromebooks, and businesses move to Windows 11," IDC said. Reporting by Bharat Govind Gautam and Tiyashi Datta in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Global PC shipments slide in Q1, Apple takes biggest hit - IDC
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In the report published Sunday, the International Data Corporation (IDC) said global PC shipments numbered 56.9 million in the first quarter of this year, down from 80.2 million in the same period last year. Of the top five PC companies analysed in the report, Apple's Q1 shipments saw the largest drop of 40.5% from the same period in 2022, with Dell Technologies Inc (DELL.N) coming in second with a drop of 31%. Lenovo Group Ltd (0992.HK), Asustek Computer Inc (2357.TW) and HP Inc (HPQ.N) also faced declines in shipments, the IDC said. In February, Apple reported that sales of its Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% YoY to $7.7 billion in their most recent quarter. Shipment volume in Q1 2023 was noticeably lower than the 59.2 million units shipped in Q1 2019 and 60.6 million in Q1 2018," IDC said.

☆ What Happened When Uber’s CEO Started Driving for Uber
▼ + stars: | 2023-04-07 | by ( Preetika Rana | Photographs Carolyn Fong For The Wall Street Journal | ) www.wsj.com time to read: 1 min

After five years running Uber Technologies Inc., Dara Khosrowshahi in September got behind the wheel himself. Using the alias “Dave K” and a gray Tesla Model Y that he purchased secondhand, the chief executive made dozens of trips as a ride-share driver in the following months ferrying people around the hills of San Francisco.

☆ TikTok banned from school-owned devices on all Florida state universities
▼ + stars: | 2023-04-07 | by ( Chris Boyette | ) edition.cnn.com time to read: +1 min

“Data privacy, particularly concerning student data and faculty research, is a critical priority for the State University System of Florida,” the Board of Governors said in a statement to CNN. Bans and regulations of Tik Tok in particular, and of social media sites in general, have been mounting. Utah also regulating useLate last month, the governor of Utah signed a bill which requires teens to get parental approval to use social media. Earlier this week, the United Kingdom’s Information Commissioner’s Office, which regulates data, fined Tik Tok for a number of breaches of data protection law. CNN has reached out to each for comment.

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