DIRS.INFO The most relevant business & tech news

☆ Strike by 75,000 Kaiser Permanente healthcare workers enters third day
▼ + stars: | 2023-10-06 | by ( Steve Gorman | ) www.reuters.com time to read: +6 min

Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, U.S. October 4, 2023. Kaiser has said its hospitals and emergency departments have remained open despite the walkout, staffed by doctors, managers and "contingency workers." In any case, Lucas said the striking workers will all return to their jobs by 6 a.m. on Saturday, 72 hours after the strike began, because healthcare workers by law must give advance notice of 10 days of any intent to go on strike. However, the union on Friday warned of another strike if "Kaiser executives continue to commit unfair labor practices and bargain in bad faith." The Kaiser strike has idled more than 75,000 employees, union officials said.

Persons: Kaiser, Julie Su, Caroline Lucas, Lucas, Steve Gorman, Ahmed Aboulenein, Bhanvi, Bill Berkrot, Robert Birsel, Anil D'Silva Organizations: Kaiser Permanente Los Angeles Medical Center, Permanente, REUTERS, Kaiser Permanente, District of Columbia, Labor, Coalition, Kaiser Permanente Unions, Kaiser, Union, Unions, U.S . Bureau of Labor Statistics, Washington D.C, Thomson Locations: United States, Los Angeles , California, U.S, Kaiser, California , Oregon, Washington, , Colorado, Virginia, California, Las Vegas, California , Colorado , Oregon, Hawaii , Georgia, Los Angeles, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The S&P 500 (.SPX) eyed its fifth straight weekly fall, while the Dow (.DJI) is on track to decline for the third straight week. Most major S&P 500 sectors were trading lower on Friday, with utilities (.SPLRCU), often considered a bond proxy, down 1.8%, while rate-sensitive real-estate (.SPLRCR) fell 1.2%. Energy (.SPNY) is set to be worst hit amongst the major S&P 500 sectors this week, while communications services (.SPLRCL) is on track to be the best performing. EV maker Tesla (TSLA.O) fell 2.2% after cutting prices of its Model 3 and Model Y vehicles in the United States.

Persons: Brendan McDermid, Tesla, Neil Birrell, advancers, Ankika Biswas, Shashwat Chauhan, Anil D'Silva, Shounak Organizations: New York Stock Exchange, REUTERS, Companies, Exxon, Dow, Nasdaq, Federal Reserve, Labor, Premier Miton, Treasury, Nvidia, Traders, Energy, JPMorgan Chase, Citigroup, BlackRock, Dow Jones, Tesla, Exxon Mobil, Reuters, Natural Resources, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, United States, Bengaluru

☆ U.S. online sales to grow 4.8% in crucial holiday season, report says
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Keith/File Photo Acquire Licensing RightsOct 5 (Reuters) - Online sales during the crucial U.S. holiday season are expected to rise 4.8% from a year earlier as retailers go all out to woo inflation-hit consumers with even bigger discounts and promotions, a report from Adobe Analytics showed on Thursday. Adobe said the holiday season would see heavy discounts this year, especially in the toys, sporting goods and furniture categories, with markdowns peaking at 35%. Last month, Mastercard's (MA.N)SpendingPulse report forecast a 6.7% rise in online sales during the holiday season. Online discounts expected to be as high as 35% this holiday seasonWith Amazon.com (AMZN.O) hosting its second Prime Day sale in October, holiday shopping is expected to start as early as this month. Shoppers, especially the younger ones, are more likely to use buy-now-pay-later services to stretch their budgets, according to the report.

Persons: Stephanie Keith, Adobe, Savyata Mishra, Anil D'Silva Organizations: REUTERS, Adobe Analytics, Walmart, Adobe, Thomson Locations: New York City, U.S, Bengaluru

☆ Dell's revenue forecast signals AI boost will take longer to materialize
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. "The unchanged revenue CAGR (forecast) seems conservative given the recent AI tailwinds, which are expected to not only build but persist in the future," Evercore ISI analysts said. Its main revenue generator - the PC market - has been in a slump since the pandemic ended. Dell's shares have risen 65% so far this year, after dropping nearly 30% in 2022. Reporting by Yuvraj Malik in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Dell, Yuvraj Malik, Anil D'Silva, Shounak Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Dell, Wall, Thomson Locations: New York, U.S, Bengaluru

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 4 (Reuters) - Exchange-traded funds tracking automakers saw net outflows last month on worries over the United Auto Workers' (UAW) strike against the "Detroit Three" and higher interest rates. Production at General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI) have taken a beating as the UAW strike headed into the 20th day. "The redemption of ~20% of the (First Trust) ETF's net assets in mid-September could have been related to the UAW strike, although it's tough to say with certainty." The $1.02 billion Direxion Daily TSLA Bull 1.5X Shares ETF (TSLL.O) saw its first month of outflows in four.

Persons: Rebecca Cook, Bryan Armour, that's, Todd Sohn, Bansari Mayur, Anil D'Silva Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Exchange, United Auto Workers ', General Motors, Ford, Chrysler, Nasdaq Transportation, North America, Morningstar, JPMorgan, GM, X Autonomous & Electric Vehicles, Trust, Global, Strategas Securities, Thomson Locations: Delta Township, Michigan, Bengaluru

☆ Apple CEO Tim Cook makes $41 mln from biggest stock sale in two years
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed. A report from research firm Canalys showed North American smartphone shipments were expected to fall 12% in 2023.

Persons: Tim Cook, Loren Elliott, Cook, Chavi Mehta, Akash Sriram, Anil D'Silva Organizations: Apple, REUTERS, KeyBanc, Thomson Locations: Cupertino , California, U.S, United States, American, Bengaluru

☆ Asia’s breakup party is happening under duress
▼ + stars: | 2023-10-04 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

As with other big breakups in the region however, there are unspoken reasons for him to join the party. Vedanta Resources is in talks with bondholders to extend the maturity by roughly three years on about $3.2 billion of debt due in 2024 and 2025. But even then, Vedanta Resources may still have a funding gap until 2027 under certain conditions, according to JPMorgan. Even if those were sold for as much as $1.5 billion, JPMorgan estimates Vedanta Resources will at most receive only $350 million in net proceeds. For every one share in Vedanta, shareholders will receive one additional share of each of the five new companies.

Persons: Anil Agarwal, Ajay Agarwal, Vedanta, Mukesh Ambani, Una Galani, Katrina Hamlin Organizations: Reuters, Vedanta, Vedanta Resources, London Stock Exchange, JPMorgan, Hindustan, HK, Reliance Industries, Thomson Locations: BENGALURU, Mumbai, Hindustan, People’s Republic, Asia, Vedanta

☆ Apple releases software update to resolve iPhone 15 overheating issue
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS/Stephanie Lecocq/File Photo/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) released an update to its iOS 17 software on Wednesday to resolve an overheating issue related to its latest iPhones. The iPhone 15 series, encased in a titanium shell, was launched last month with its custom A17 pro chip powering the Pro and Pro Max phones. Shortly after the iPhone 15 models were launched, consumers complained about bad battery life and overheating. The latest update to the iOS 17 software includes "important bug fixes, security updates, and addresses an issue that may cause the iPhone to run warmer than expected," an Apple spokesperson said on Wednesday.

Persons: Stephanie Lecocq, Pro Max, Apple, Instagram, Chavi Mehta, Anil D'Silva, Sherry Jacob, Phillips Organizations: Apple, REUTERS, Pro, Thomson Locations: Lille, France, Bengaluru

☆ Veterans from Tesla, Northvolt hatch plan to mass-produce huge batteries to store solar and wind energy
▼ + stars: | 2023-10-04 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

The mountains of Colorado in the background inspired the name of the company, Peak Energy. We're completely the opposite," Cameron Dales, president and chief commercial officer of Peak Energy, told CNBC in a video interview Friday. 1 issue we face as it relates to expanding renewable energy sources is storage," Reichow told CNBC. "We're running a playbook which I and the rest of the executive team initially demonstrated and deployed at Northvolt," Mossburg told CNBC. "Landon and I worked together at Tesla and I know what he's capable of delivering," Reichow told CNBC.

Persons: Cameron Dales, Landon Mossburg, We're, Greg Reichow, Reichow, Ryan Gibson, Aidan Madigan, Curtis, Cameron, Mossburg, Northvolt, Peter Carlsson, Rho Kana, Enovix, Anil Achyuta, Landon, Tesla, Cam, It's, Alun Thomas, Dales Organizations: Peak Energy, Energy Battery, Energy, CNBC, Eclipse, Tesla, TDK Ventures, United States Energy Information Administration, Eclipse Venture, Cameron Dales, US, Dales, Symyx Technologies, Northvolt, Ford, Manufacturing Engineering, Panasonic Locations: Colorado, Silicon, Tokyo, San Francisco, Northvolt, Sweden, Cameron Dales, Fremont , Calif, Fremont , California, Penang, Malaysia, China, United States, U.S, Nevada, Enovix

☆ WHO says no new cases of Nipah virus detected since Sept 15
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

Staff members install a sign reading "Nipah isolation ward, entry strictly prohibited" at a hospital where a ward is being prepared for suspected Nipah virus patients in Kozhikode district, Kerala, India, September 12, 2023. REUTERS/Stringer/File Photo Acquire Licensing RightsOct 3 (Reuters) - No fresh cases of the deadly Nipah virus have been detected since Sept. 15 in India's southern state of Kerala, the World Health Organization (WHO) said on Tuesday. All infected cases were males aged between nine to 45 years and were reported within the Kozhikode district of Kerala, the WHO said, citing India's Ministry of Health and Family Welfare. Currently, there is no vaccine for Nipah, which spreads through contact with infected animals such as bats and pigs. Reporting by Sriparna Roy in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, Sriparna Roy, Anil D'Silva Organizations: REUTERS, World Health Organization, WHO, India's Ministry of Health, Family Welfare, Thomson Locations: Kozhikode district, Kerala, India, India's, Kozhikode, Bengaluru

☆ PNC Bank buys $16.6 bln capital commitment portfolio from Signature Bridge Bank
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO:The logo of PNC Bank, a subsidiary of PNC Financial Services Group, is seen on the window of a branch in Washington, U.S. April 30, 2023. REUTERS/Ashraf Fahim/File Photo Acquire Licensing RightsOct 3 (Reuters) - PNC Financial Services' (PNC.N) banking unit said on Tuesday that it had bought a portfolio of capital commitments from Signature Bridge Bank worth $16.6 billion in an agreement with the Federal Deposit Insurance Corp as receiver. "PNC has long participated in the capital commitments business and the acquired portfolio is highly complementary," the bank said in a statement. PNC Bank purchased these commitments and loans without any funding, guarantees or loss-sharing agreements from the FDIC, the company added. The FDIC closed Signature Bank in March amid an intensifying regional banking crisis and transferred all of its deposits and substantially all of its assets to Signature Bridge Bank, a full-service financial institution that is operating under a board appointed by the watchdog.

Persons: Ashraf Fahim, Jaiveer Singh, Anil D'Silva Organizations: PNC Bank, PNC Financial Services Group, REUTERS, PNC Financial Services, Signature Bridge, Federal Deposit Insurance Corp, PNC, FDIC, Bank, Thomson Locations: Washington , U.S, Bengaluru

☆ Netflix plans to raise prices after actors' strike ends - WSJ
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David Swanson/File Photo Acquire Licensing RightsOct 3 (Reuters) - Netflix (NFLX.O) is planning to raise the price of its ad-free service after the ongoing Hollywood actors' strike ends, the Wall Street Journal reported on Tuesday, sending the streaming company's shares up more than 3%. Netflix is discussing raising prices in several markets globally, but will likely begin with the United States and Canada, the WSJ reported, citing people familiar with the matter. It was not immediately clear how much Netflix will raise prices by or when exactly the new prices will take effect, according to the report. The writers' union struck a tentative deal with the AMPTP last week after five months of failed negotiations. Netflix cut prices of its subscription plans in some countries in February.

Persons: David Swanson, Yuvraj Malik, Anil D'Silva Organizations: Netflix, Writers Guild of America, REUTERS, Wall Street, WSJ, SAG, Alliance, Television Producers, Thomson Locations: Los Angeles , California, U.S, United States, Canada, Bengaluru

Tesla vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. Shares of the EV maker reversed course to rise marginally after dropping nearly 3% following the news of the delivery miss. Tesla has also been cutting prices aggressively to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players. Meanwhile, electric-pickup maker Rivian Automotive (RIVN.O) reported third-quarter deliveries above analysts' estimates and reaffirmed its annual production target of 52,000 vehicles. Deliveries of Tesla's premium vehicles, Model S and Model X, rose to about 16,000 units in the third quarter.

Persons: Carlos Barria, Tesla, Thomas Martin, Reuters Graphics Tesla, Ashwin Amberkar, Aditya Soni, Akash Sriram, Arun Koyyur, Anil D'Silva 私 Organizations: REUTERS, Ford, Globalt Investments, Reuters Graphics, Rivian, US, Canalys Research Locations: Fremont , California, U.S, China, United States, Bengaluru

☆ Digital World, Trump's media firm add new termination clause to merger deal
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

The move comes weeks after Digital World investors voted to give up to a one-year extension to complete the much-delayed deal. The blank-check firm amended the merger agreement on Sept. 29, according to the filing, which also disclosed that Digital World can terminate the agreement only in that three-week period in November. Digital World has faced a series of challenges since it stuck a merger deal with Trump Media & Technology Group (TMTG) on October 2021. If the merger closes, Trump Media would gain access to more than $1 billion in cash from DWAC's institutional investors, such as hedge funds. According to a Feb. 2, 2021 services agreement, Trump controls 90% of Trump Media.

Persons: Donald Trump, Mike Blake, Donald Trump's, DWAC's, Jaspreet Singh, Anil D'Silva Organizations: U.S, Republican, California Republican Party, REUTERS, Digital, Securities and Exchange Commission, Trump Media & Technology, U.S . Department of Justice, SEC, Trump Media, Trump, Thomson Locations: Anaheim , California, U.S, Bengaluru

Hollysys offers integrated services for industrial automation and rail transport, according to its website, and its control systems have been used in sensitive areas such as nuclear power stations. In August, a consortium led by Recco Control Technology and Dazheng Group Investment Holdings made an all-cash offer of $25 per share to buy the company. The special committee will discuss the next steps with Recco Control and Dazheng Group (Hong Kong) in response to the offer to acquire the company, while expediting the process to seek "additional serious and compelling offers," Hollysys said in a statement. Deutsche Bank will solicit additional potential offers on behalf of Hollysys, it added. Founded in 1993, Hollysys now has operations in China and eight other countries and regions throughout Asia.

Persons: Hollysys, Kannaki, Anil D'Silva, Susan Fenton Organizations: Hollysys Deutsche Bank, Automation Technologies, Recco Control Technology, Dazheng Group Investment Holdings, Nasdaq, Recco, Dazheng, Deutsche Bank, Dazheng Group, Reuters, U.S, New, Thomson Locations: Beijing, United States, China, Taiwan, Hong Kong, Hollysys, New York, Asia, Bengaluru, Yantoultra, Singapore

☆ Global stock index gains while Treasury yields, dollar dip after inflation data
▼ + stars: | 2023-09-29 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. "The big fear has been that we may not be at peak interest rates and that we may still be grappling with inflation. "The result is that interest rates are down across the U.S. Treasury yield curve. U.S. Treasury yields slid after the inflation reading with benchmark 10-year notes down 7.1 basis points to 4.526%, from 4.597% late on Thursday. Earlier it had ticked higher with help from the retreating dollar and Treasury yields after the inflation data, but bullion was still on track for monthly and quarterly declines on prospects of higher U.S. interest rates.

Persons: Brendan McDermid, Brian Levitt, Sterling, Brent, Sinéad Carew, Naomi Rovnick, Ankur Banerjee, Alexander Smith, Anil D'Silva, Barbara Lewis, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, U.S, Traders, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Europe, United, China, New York, London, Singapore

☆ Pavilion End at Trent Bridge to be renamed after England's Broad
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] Cricket - Second Test - England v New Zealand - Trent Bridge, Nottingham, Britain - June 14, 2022 England's Stuart Broad walks in ahead of play Action Images via Reuters/Andrew Boyers/File Photo Acquire Licensing RightsSept 29 (Reuters) - The Pavilion End at Trent Bridge will be renamed the Stuart Broad End to recognise one of England's greatest bowlers who retired earlier this year after the Ashes series. Broad, who played his final test in July when England tied 2-2 with Australia, took 604 test wickets -- behind only Muttiah Muralitharan, Shane Warne, James Anderson and Anil Kumble. The Pavilion End holds a special place in Broad's heart as he bagged the only test hat-trick seen at the venue, against India in 2011. Broad picked up 190 wickets in 43 appearances for county and country at Trent Bridge. Broad's former team mate Anderson, England's leading wicket taker, had an end named after him in 2017 at his home ground Old Trafford -- the end where Broad picked up his 600th test wicket.

Persons: England's Stuart Broad, Andrew Boyers, Stuart, Muralitharan, Shane Warne, James Anderson, Anil Kumble, I've, Broad, Andy Hunt, Anderson, England's, Rohith Nair, Ken Ferris Organizations: New Zealand, England, Notts, Nottingham, Trent Bridge, Thomson Locations: New, Nottingham, Britain, Australia, India, Nottinghamshire, Trent, Old Trafford, Bengaluru

☆ Sudan medics warn that cholera and dengue fever are spreading
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Ambassador to the United Nations, Linda Thomas-Greenfield, visited the hospital, in Adre, Chad, on the border with Sudan, September 6, 2023. The federal health ministry said in a statement late on Tuesday that 18 people had died and 265 infected with cholera in al-Qadarif state. A doctors' syndicate in Sudan said 3,398 cases of dengue fever were recorded across al-Qadarif, Red Sea, North Kordofan and Khartoum states between mid-April and mid-September. Last week the United Nations said more than 1,200 children had died of suspected measles and malnutrition in refugee camps in Sudan's White Nile state, and that cholera, dengue fever and malaria posed a risk across the country. Dengue fever is endemic in Sudan.

Persons: Linda Thomas, Greenfield, Michelle Nichols, Khalid Abdelaziz, Aidan Lewis, Anil D'Silva Organizations: MSF, United Nations, REUTERS, Health, Rapid Support Forces, Thomson Locations: Adre, Chad, Sudan, al, Red Sea, North Kordofan, Khartoum, Ethiopia, Sudan's White Nile

☆ Vedanta is preparing to demerge sprawling operations- Bloomberg News
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. The move to demerge could help Vedanta's parent, Vedanta Resources, to manage its debt load, according to Bloomberg's report, which added that Vedanta Resources will remain the holding company for the new units. Vedanta did not immediately respond to a Reuters request for comment on the report outside business hours. The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed. Vedanta Resources has been scrambling to raise funds due to rating downgrades and concerns about meeting debt obligations.

Persons: Danish Siddiqui, Anil Agarwal, Agarwal, Akanksha, Shweta Agarwal Organizations: Vedanta, REUTERS, Danish, India's Vedanta, Bloomberg, Vedanta Resources, Resources, Hindustan Zinc Ltd, Vedanta Ltd, Thomson Locations: Mumbai, India, Hindustan, Bengaluru

☆ Solomon Islands leader says he skipped Biden summit to avoid 'lecture'
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Solomon Islands Prime Minister Manasseh Sogavare addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 22, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSYDNEY, Sept 27 (Reuters) - Solomon Islands Prime Minister Manesseh Sogavare said he skipped a Pacific Islands leaders summit at the White House this week to avoid a "lecture" and because he had more pressing issues at home. "They lecture you about how good they are", he said, according to a video of the press conference published by Solomon Islands media company Tavuli News on Wednesday evening. Sogavare said he returned because there were 10 weeks left of parliament at home in Solomon Islands, which was more important. At the United Nations General Assembly in New York, Sogavare had praised China's development cooperation as "less restrictive".

Persons: Manasseh Sogavare, Eduardo Munoz, Manesseh Sogavare, Joe Biden, Sogavare, James Marape, Biden, Kirsty Needham, Anil D'Silva Organizations: Islands, General Assembly, REUTERS, Rights, Solomon Islands, Pacific, United Nations, Island Forum, Solomon, Biden Administration, Papua New Guinea, United Nations General Assembly, Thomson Locations: New York City, U.S, Solomon, China, Solomon Islands, United States, Washington, Pacific, Papua New, New York

Pros, which has struggled to return to profitability, is being advised by investment bank Qatalyst Partners in its discussions with potential acquirers, the sources said. Many of the suitors are private equity firms whose offers Pros has rejected, the sources added. Pros shares jumped 13% on the news to $36.18 in early New York trading on Wednesday, giving the company a market value of $1.7 billion. Pros provides price optimization and revenue management software for companies in various sectors, including aviation. It reported subscription revenue of $57.3 million in the second quarter, up 14% year-over-year, with overall sales up 11% year-over-year to $75.8 million.

Persons: Brendan McDermid, Qatalyst, Milana Vinn, Anil D'Silva, Jane Merriman Organizations: Holdings, Inc, New York Stock Exchange, REUTERS, Qatalyst Partners, Wall, Thomson Locations: New York, U.S, Houston

☆ India's Vedanta hits over 1-year low after Moody's downgrades parent
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/file photo Acquire Licensing RightsBENGALURU, Sept 27 (Reuters) - Shares of Indian conglomerate Vedanta (VDAN.NS) fell to their lowest in over a year on Wednesday after Moody's Investors Service downgraded parent Vedanta Resources' senior unsecured bonds, citing a high risk of debt restructuring in the coming months. The rating agency also raised concerns about the ability of Vedanta Resources' operating subsidiaries to generate cash flow in a "softening commodity price environment." Moody's downgraded Vedanta Resources' unsecured bonds to Caa3 from Caa2, and the corporate family rating of the billionaire Anil Agarwal-owned company to Caa2 from Caa1 while maintaining a negative outlook. Vedanta was the top loser on the Nifty 100 index (.NIFTY100), which was down 0.26%.

Persons: Danish Siddiqui, Anil Agarwal, Vedanta, Rama Venkat, Dhanya Ann Thoppil Organizations: Vedanta, REUTERS, Danish, Rights, Moody's Investors Service, Resources, Vedanta Resources, Thomson Locations: Mumbai, India, Caa2, Caa1, Bengaluru

☆ France wants to replace gas, fuel heaters with heat pumps - minister
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsPARIS, Sept 26 (Reuters) - France wants to replace residential fuel and gas heaters with heat pumps and create an industry to make the device in a bid to reduce greenhouse gas emissions, French Environment Minister Christophe Bechu said on Tuesday. "Fighting climate change means first and foremost exiting from the use of fossil fuels, therefore we should have no more fuel heaters and much fewer gas heaters," Bechu said in an interview with franceinfo radio. France targets a 55% reduction in net greenhouse gas emissions by 2030, compared with 1990. Bechu said subsidies for heat pumps - which are more expensive than gas heaters - would be boosted so that for low-income families the net cost of buying a heat pump would be similar to a gas heater. Heat pumps use electricity to draw heat from the environment, and as France relies mainly on nuclear energy to generate electricity, heat pumps would generate virtually no emissions during use.

Persons: Christophe Bechu, Benoit Tessier, Emmanuel Macron, Bechu, Anil D'Silva Organizations: REUTERS, Rights, French, GV, Thomson Locations: Paris, France

☆ Singapore's central bank looking into banks' role in $1.8 bln money laundering case
▼ + stars: | 2023-09-26 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 26 (Reuters) - Singapore's central bank said on Tuesday it was looking into whether banks involved in a S$2.4 billion ($1.75 billion) money laundering scandal in the global wealth hub had taken all reasonable steps to mitigate risks. The Monetary Authority of Singapore (MAS) will take action if its findings reveal shortcomings in the banks' controls, a spokesperson said in an emailed statement. Singapore police last month arrested and charged 10 foreigners including from China, in one of the biggest anti-money laundering swoops. The scandal has raised questions on whether the banks are strictly following the city-state's stringent anti-money laundering rules. ($1 = 1.3677 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Sumeet Chatterjee and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yantoultra Ngui, Sumeet Chatterjee, Anil D'Silva Organizations: Monetary Authority of Singapore, Singapore, MAS, FIs, Thomson Locations: SINGAPORE, China, Singapore, Asia

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 26 (Reuters) - Approvals on new exchange-traded funds, including bitcoin spot ETFs, could face delays if the U.S. government shuts down next month for the fourth time in a decade. "I'm not sure if ETFs that have been filed for approval can move forward with the government shutdown," said Todd Rosenbluth, head of research at VettaFi. "This would just delay yet another decision on the never ending spot Bitcoin decision," said Todd Sohn, ETF and technical strategist at Strategas Securities. "ETFs are just pass through vehicles ... impact on the underlying markets will obviously impact ETFs," said Hector McNeil, co-CEO and founder of HANetf. "People will also probably pause if they're about to launch (new ETFs) and wait for steady waters."

Persons: Dado Ruvic, Exchange Commission's, Gary Gensler, I'm, Todd Rosenbluth, Todd Sohn, Hector McNeil, Bansari Mayur, Ira Iosebashvili, Anil D'Silva Organizations: REUTERS, Securities, Exchange, SEC, Strategas Securities, Thomson Locations: U.S, Bengaluru

Search resuls for: "Anil"

25 mentions found