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☆ UK pension funds threaten to vote against BP and Shell directors over climate targets - FT
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Two of the UK's largest pension schemes will vote against the election of top directors at BP Plc (BP.L) and Shell Plc (SHEL.L) at their annual meetings unless both companies improve their commitments to tackling carbon emissions, the Financial Times reported on Sunday. Shell declined to comment, while BP, USS and Borders to Coast did not respond immediately to requests for comment. BP said previously it aimed to cut emissions from fuels sold to customers to 20% to 30% by 2030, less than an earlier target of a 35% to 40% reduction, and it planned to reduce its total emissions to net zero by 2050. Shell has pledged to be a net zero carbon company by 2050 and has said its overall carbon emissions peaked in 2018 at around 1.7 billion tonnes. ($1 = 0.8314 pounds)Reporting by Mrinmay Dey in Bengaluru; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Instagram down for thousands of users - Downdetector
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: 1 min

March 8 (Reuters) - Meta Platform's (META.O) Instagram was down for thousands of users on Wednesday, according to outage tracking website Downdetector.com. More than 27,000 users were having trouble accessing the social network, according to Downdetector, which tracks outages by collating status reports from a number of sources including user-submitted errors on its platform. Meta did not immediately respond to Reuters request for comment. Reporting by Mrinmay Dey in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

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

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

Companies Exxon Mobil Corp FollowMarch 2 (Reuters) - Exxon Mobil Corp (XOM.N) was sued for racial discrimination by a U.S. federal agency on Thursday, with charges alleging that the oil major failed to protect workers from harassment after nooses were found at one of its facilities in 2020. The EEOC said that at the time of this report, Exxon was already aware of three other such instances of nooses being displayed at the complex and a nearby refinery, and that a fifth noose was reported later in 2020. According to the EEOC, Exxon investigated some of these incidents, but not all, and "failed to take measures reasonably calculated to end the harassment." The federal agency alleged that Exxon's actions and omissions regarding the noose incidents "created a racially hostile work environment." The symbols of hate are unacceptable, offensive, and in violation of our corporate policies", Exxon said in a statement.

☆ Amazon's cloud unit to invest $6 bln in Malaysia by 2037
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: 1 min

March 1 (Reuters) - Amazon Web Services (AWS), the cloud computing division of Amazon.com Inc (AMZN.O), said on Wednesday it plans to invest $6 billion in Malaysia over the next 14 years to strengthen its cloud services infrastructure in the country. This marks the company's latest move in its plan to build AWS Infrastructure Regions across southeast Asia. The infrastructure hub will enable customers in the region to store data securely, the subsidiary said in a statement. AWS' cloud platform offers more than 200 services, including storage, robotics and artificial intelligence. Reporting by Mrinmay Dey in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Netflix streaming down for thousands of users - Downdetector
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: 1 min

March 2 (Reuters) - Netflix's (NFLX.O) video streaming services were down for thousands of users on Thursday, according to outage-tracking website Downdetector.com. There were around 1,800 reports on Downdetector, which collates status reports from a number of sources. About 55% of the users reported issues with the website, according to Downdetector. Netflix, which has more than 200 million paid subscribers globally, remains a dominant streaming service. Reporting by Mrinmay Dey in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ SoftBank, Ant discuss to sell Paytm stake via block deal - ET
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

[1/3] The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/IllustrationFeb 27 (Reuters) - China's Ant Group and Japan's SoftBank Group Corp (9984.T) have discussed selling stake in One 97 Communications, which operatesIndian digital payments firm Paytm (PAYT.NS), through a block deal, the Economic Times newspaper reported on Monday. SoftBank, Ant Group, Paytm and Bharti Airtel did not immediately respond to Reuters' request for comments. Ant and SoftBank are likely to offload shares gradually in the market as part of their plan to exit Paytm, the report said. China's Alibaba Group (9988.HK) earlier this month sold its remaining stake in Paytm for about 13.78 billion rupees.

☆ Apple's Chinese contract manufacturer to develop AR device - Nikkei
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: 1 min

Feb 23 (Reuters) - Apple's (AAPL.O) Chinese contract manufacturer Luxshare Precision Industry Co Ltd (002475.SZ) will help develop the iPhone maker's long-awaited augmented reality (AR) device, Nikkei Asia reported on Thursday. Luxshare has taken over the AR development team in Shanghai, previously owned by Taiwan's Pegatron (4938.TW), the report said, citing people familiar with the matter. Reporting by Mrinmay Dey in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon completes One Medical takeover after FTC nod, discounts membership
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

Feb 22 (Reuters) - Amazon.com Inc (AMZN.O) said on Wednesday it completed its $3.5 billion takeover of primary care provider One Medical (ONEM.O), a day after a U.S. Federal Trade Commission (FTC) official announced that the agency would not challenge the deal. The acquisition, announced last July, gives the online retailer brick-and-mortar offices for consumers to receive medical care for the first time, in addition to a virtual health offering. Amazon also said it would discount One Medical membership to $144 from $199 for the first year to new customers, irrespective of whether they're Prime loyalty subscribers. Reporting by Mrinmay Dey in Bengaluru and Jeffrey Dastin in Palo Alto, Calif.; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Feb 15 (Reuters) - Index provider MSCI said on Wednesday it will postpone implementation of updates to weightings for two of India's Adani Group companies, Adani Total Gas (ADAG.NS) and Adani Transmission (ADAI.NS), to the May benchmark review. The reversal of the updates to Adani Total Gas and Adani Transmission in the February index review will be reflected in the MSCI Index Product files starting from Feb. 16, MSCI said. MSCI will also apply a special treatment for all Adani Group's associated securities in the MSCI Equity Indexes starting from February. The new index weightings were due to come into effect on March 1 but the proposed changes to Adani Total Gas and Adani Transmission will be delayed until May. MSCI examined the size of companies' free floats, having determined there was "sufficient uncertainty" surrounding some investors in Adani companies.

☆ Adani slashes growth targets amid rout sparked by Hindenburg, Bloomberg reports
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

Feb 12 (Reuters) - India's Adani group has halved its revenue growth target and plans to scale down fresh capital expenditure, Bloomberg News reported on Sunday. Adani group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from 40% originally targeted, Bloomberg News said citing people familiar with the matter. A spokesperson for Adani Group did not immediately respond to a request for comment. Adani group has also been a part of India's market regulator's investigation into the group's links to some of the investors in its scrapped $2.5 billion share sale. Earlier this month, India's ministry of corporate affairs started a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years, Reuters reported, citing two senior government officials.

☆ Adani slashes growth targets amid rout sparked by Hindenburg - Bloomberg News
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

☆ Meta's Facebook, Instagram down for thousands of U.S. users - Downdetector
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

Feb 8 (Reuters) - Meta Platforms Inc's (META.O) Facebook and Instagram were down for thousands of users in the United States on Wednesday, according to outage tracking website Downdetector.com. More than 12,000 Facebook users reported errors and about 7,000 incidents were reported for Instagram, according to Downdetector.com. Users also reported issues with Facebook's online messaging service Messenger. Downdetector tracks outages by collating status reports from several sources, including user-submitted errors on its platform. Reporting by Mrinmay Dey in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk says to attempt Starship launch in March
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: 1 min

Feb 4 (Reuters) - SpaceX may attempt a Starship rocket system launch in March, its billionaire chief Elon Musk said in a tweet on Saturday. "If remaining tests go well, we will attempt a Starship launch next month," Musk said, in a response to a user's tweet about Starship. loadingMusk had in January said that there was a "real shot" at launching Starship in late February, adding that a March launch attempt appears highly likely. SpaceX, since last year, has been looking to launch its giant Starship into orbit for the first time, a pivotal demonstration flight as it aims to fly NASA astronauts to the moon. Reporting by Mrinmay Dey in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ At least 10 children killed in Pakistan as boat capsizes
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +1 min

PESHAWAR, Jan 29 (Reuters) - At least 10 children were killed on Sunday when a boat carrying religious school students capsized in northwest Pakistan, officials said. Around eight students were still missing while seven injured had been taken to hospital, according to local officials in Khyber Pakhtunkhwa province where the accident took place. Kohat's district commissioner Mahmood Aslam said around 50 students from a local religious school, had gathered near Tanda lake for a picnic. Twenty-five had ventured out on the water - which was closed by authorities for recreational trips - on a boat that capsized, he said. The accident came the same day as a bus accident in southern Pakistan that killed more than 40 people.

"Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled," it said. A spokesperson for administrators Interpath Advisory said about 75,000 Flybe customers had future bookings that would now not be honoured. Headquartered in Birmingham, Flybe operated flights on 21 routes to 17 destinations across the UK and Europe using a fleet of eight leased Q400 turboprop aircraft. A spokesperson for Interpath said 45 members of Flybe's 321-strong workforce had been retained for the time being. Louise Haigh, the opposition Labour Party's transport spokesperson, said Flybe's collapse was "devastating news" for staff and customers.

PARIS, Jan 28 (Reuters) - French luxury goods group Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. "I am touched and excited to contribute my creative vision for the brand.”He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Gucci CEO Marco Bizzarri said that having worked with a number of Italy's most renowned luxury fashion houses, De Sarno "brings with him a vast and relevant experience." "Gucci - and the Kering shareholders - need courage and an original point of view." "The eyes of the world will be on him to see if he also has the required creative genius."

☆ UK's Flybe enters administration, cancels all flights
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Jan 28 (Reuters) - British airline Flybe entered administration for the second time and has cancelled all scheduled flights to and from the UK, the regional carrier said on Saturday. With Britain in lockdown during the pandemic, Flybe was among the first airlines to go into administration in 2020, putting around 2,400 jobs at risk at that time. The High Court has appointed David Pike and Mike Pink as joint administrators of Flybe, it said. Flybe, which was once the largest independent regional airline in Europe, operated between 81 airports, was sold to Thyme Opco, a firm controlled by Cyrus Capital, in 2021. Reporting by Mrinmay Dey and Akriti Sharma in Bengaluru; editing by William Mallard and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Kering appoints De Sarno as Gucci creative director
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Gucci sign is seen outside a shop in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier/FilesPARIS, Jan 28 (Reuters) - French luxury giant Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. I am touched and excited to contribute my creative vision for the brand,” De Sarno said in Kering's statement. He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Former creative director Alessandro Michele, known for his flamboyant and gender-fluid styles, left Gucci abruptly in November after seven years in the job, following tensions between with Kering's top management, sources told Reuters.

☆ Twitter, ad verification firms team up to give advertisers tweet-level analysis
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - Twitter Inc will team up with digital ad verification companies Integral Ad Science (IAS.O) and DoubleVerify Holdings Inc (DV.N) to provide advertisers tweet-level analysis on content appearing next to their ads, the companies said on Wednesday. IAS and DoubleVerify, who have both previously partnered with Twitter, use technology to independently verify that digital ads are viewed by real people. Advertisers use the services to ensure the ads they pay for are seen by potential customers and not automated bots. Musk has been fighting to retain clients as many companies, including General Motors (GM.N) and United Airlines (UAL.O), had paused or pulled back from advertising on the platform. Many advertisers including Dyson, Mazda, Forbes and PBS Kids suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography.

☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.

☆ Hindenburg shorts India's Adani Group, flags debt and accounting concerns
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The report, which comes days ahead of a $2.5 billion share offering by flagship firm Adani Enterprises (ADEL.NS), sent shares in Adani group firms sliding. It also said that seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations". Adani Chief Financial Officer Jugeshinder Singh told media on Jan. 21 "Nobody has raised debt concerns to us. Refinitiv data shows that debt at all the Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd (ADNA.NS) exceeding equity by more than 2,000%. Shares in Adani Enterprises surged 125% in 2022, while other group companies, including power and gas units, rose more than 100%.

☆ Hindenburg says holds short positions in India's Adani
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 25 (Reuters) - Hindenburg Research said on Wednesday it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies in the Indian conglomerate sliding. The company has repeatedly dismissed debt concerns. Adani Chief Financial Officer Jugeshinder Singh told media on Jan. 21 "Nobody has raised debt concerns to us. Shares in Adani Ports And Special Economic Zone (APSE.NS) slid 4.8% on Wednesday to their lowest level since mid-July while Adani Enterprises, the group's flagship company, dropped 2.5% to a 12-week low. Shares in Adani Enterprises surged 125% in 2022, while other group companies, including power and gas units, rose more than 100%.

☆ Hindenburg says holds short positions in India's Adani, flags risks
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - Short-seller Hindenburg Research said on Wednesday it holds short positions in India's Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments. "Key listed Adani companies have also taken on substantial debt, including pledging shares of their inflated stock for loans, putting the entire group on precarious financial footing," Hindenburg said. Adani Chief Financial Officer Jugeshinder Singh said on Jan. 21 "Nobody has raised debt concerns to us. Adani Enterprises (ADEL.NS), the flagship company of ports-to-energy conglomerate Adani Group, has said it will raise $2.5 billion in India's largest follow-on public offering due this Friday. Shares of Adani Enterprises (ADEL.NS) surged 125% in 2022, while other group companies, including power and gas units, rose over 100%.

Hindenburg, known for having shorted electric truck maker Nikola Corp (NKLA.O) and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments. Shares in Adani Transmission (ADAI.NS) fell 9%, Adani Ports And Special Economic Zone (APSE.NS) slipped 6.3% and Adani Enterprises ended down 1.5%. Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to 2.2 trillion rupees. Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd (ADNA.NS) exceeding equity by more than 2,000%. Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans.

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