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☆ Tel Aviv-based Teva CEO: Our manufacturing is unaffected as it stands
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTel Aviv-based Teva CEO: Our manufacturing is unaffected as it standsTeva CEO Richard Francis joins 'Squawk on the Street' to discuss how the company has been able to manage business operations, how the company's employees are faring, and more.

Persons: Richard Francis Organizations: Tel Locations: Tel Aviv

☆ The CEO of a Chinese tech giant has been unreachable after making his last public appearance in August: Chinese media reports
▼ + stars: | 2023-11-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Chen Shaojie, the CEO of Chinese streaming platform DouYu, has been missing for weeks, reports indicate. A DouYu spokesperson told CNN that "business operations remain normal." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe CEO of DouYu, a Tencent-backed live-streaming platform, has been uncontactable for weeks, according to reports from several media outlets. State-owned Cover News, citing unconfirmed reports, first reported on Monday that CEO Chen Shaojie, 39, is being investigated by authorities and has been unreachable for three weeks.

Persons: Chen Shaojie, Chen, —, DouYu, Jack Ma, Bao Fan, Bao, Hui Ka Yan, China Evergrande, Hui Organizations: CNN, Service, Financial Times Locations: State, China, People's Republic of China

☆ Uber Reports Record Ridership and Second Straight Quarterly Profit
▼ + stars: | 2023-11-07 | by ( Kellen Browning | More About Kellen Browning | ) www.nytimes.com time to read: +1 min

Uber on Tuesday reported financial results that showed its business was continuing to steadily chug along — and even turn a profit — as more riders and drivers used its platform than ever before. That was Uber’s second straight quarterly profit on the strength of its own business operations — rather than from its investments in other companies — a milestone for a company that had long faced questions about its profitability. While other technology companies have endured mass layoffs and nagging questions about their businesses during the recent economic downturn, Uber has generally produced consistent, positive results over the last year. Its worst days came early in the pandemic, when travel ground nearly to a halt and drivers left the platform. The 6.5 million drivers who ferried passengers and food around the world in the past quarter was a record, Uber said.

Persons: Uber Organizations: Wall, Uber

☆ Bumble shares drop as founder Wolfe Herd to relinquish CEO role
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] Bumble CEO Whitney Wolfe Herd has her photo taken on the red carpet after arriving for the TIME 100 Gala in Manhattan, New York, U.S., April 24, 2018. She will take over on Jan. 2, while Wolfe Herd will remain executive chair. "Lidiane's expertise and track record in product and technology is exceptional," said Wolfe Herd as the company looks to adopt artificial intelligence across its products. Wolfe Herd, 33, launched the company in 2014 after an acrimonious departure from Match Group-owned rival app Tinder, which she had co-founded. This is the second big executive departure this year at Bumble following the exit of President Tariq Shaukat, who stepped down after three years in the role.

Persons: Bumble, Whitney Wolfe Herd, Shannon Stapleton, Whitney Wolfe, Lidiane Jones, Jones, Slack, Wolfe, Wolfe Herd, Gen, Tariq Shaukat, Yuvraj Malik, Maju Samuel, Arun Koyyur Organizations: REUTERS, Microsoft, Match Group, Bumble, Thomson Locations: Manhattan , New York, U.S, Eastern Europe, Bengaluru

☆ Jim Cramer blasts warnings from a competitor, says buy cybersecurity leader Palo Alto Networks
▼ + stars: | 2023-11-03 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Despite doom-and-gloom from a competitor around cybersecurity spending, Jim Cramer said Friday that it's the perfect time to buy industry leader Palo Alto Networks (PANW), considering the onslaught of recent high-profile hacks and breaches. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance In fact, companies need the services of cybersecurity specialists, Palo Alto, more than ever nowadays. On Oct. 20 , identity management company Okta (OKTA) said its support systems were hacked. Cramer said Palo Alto Networks stands to benefit. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Persons: Jim Cramer, Fortinet, —, Jim, there's, Estee Lauder, we've, Tracey Thomas Travis, Linda Rendle, Cramer, Needham, Jim Cramer's, David Paul Morris Organizations: Palo Alto Networks, Palo, Boeing, Palo Alto, CNBC, Bloomberg, Getty Locations: Palo Alto, Fortinet, Alto, Palo, Las Vegas, cybersecurity, Santa Clara , California, U.S

☆ Google and property developer Lendlease ended a deal on $15 billion of Bay Area real estate projects, as Big Tech continues to review the role of offices
▼ + stars: | 2023-11-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Google ended an agreement with Australian construction firm Lendlease to build four campuses in the Bay Area. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It additionally worked with Lendlease to pave the way for 12,900 units to be built in San José and Mountain View. Lendlease laid off 67 employees earlier this year including several community engagement managers, senior development managers, a head of business operations, and other executives, per CNBC. This was after Google halted construction of its Downtown West campus in San José.

Persons: Lendlease, —, we've, Google's, Meta Organizations: Google, Service, CNBC, Big Tech, Facebook Locations: Bay, San Francisco, San José, Moffet, Sunnyvale, Bayshore, Mountain View, Francisco Bay, Downtown West, London

☆ What you need to know about landing a tech job on Wall Street now, from the hottest roles to the most important skills
▼ + stars: | 2023-11-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Artificial intelligence is breathing new life into Wall Street's tech hiring scene. JPMorgan is hiring the most AI-related roles, with 239 job postings between January and October, according to the data. Plus, the qualities and skills finance firms demand are changing, with some companies prioritizing technologists with business acumen and understanding of financial markets. Here are the hottest positions finance firms want to hireThe AI boom is carving out new, specialized tech jobs on Wall Street. It's common among Wall Street firms to hold data in the cloud, with many are designing new applications where their data is .

Persons: It's, Wall, Goldman Sachs, Zac Maufe, execs, Banks, Jayson Bevacqua, Maufe, Ben Hodzic, Selby Jennings, Hodzic, they're Organizations: Deutsche Bank, Google, Revelio Labs, JPMorgan, Solaris Search, Google Cloud, Apollo, skillsets, Finance, Web Services, Microsoft, Citadel Securities, Millennium Management

☆ More on the Stifled Hunter Biden Probe
▼ + stars: | 2023-10-31 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

Review and Outlook: Attorney General Merrick Garland demonstrates why appointing a special counsel to investigate Hunter Biden was a bad idea. Images: Reuters/Zuma Press Composite: Mark KellyHouse Republicans continue to unpack the Justice Department’s botched Hunter Biden probe, and evidence is mounting of interference from the top. The latest testimony comes from an Oct. 23 Judiciary Committee interview with former U.S. Attorney Scott Brady . In January 2020, then Attorney General Bill Barr tapped Mr. Brady to vet information related to Ukrainian corruption, and to pass along credible material to offices with ongoing investigations. Mr. Brady says in the transcript we’ve reviewed that FBI headquarters and Mr. Weiss’s office made this very difficult.

Persons: General Merrick Garland, Hunter Biden, Mark Kelly, Department’s, Scott Brady, Bill Barr, Brady, David Weiss Organizations: Zuma, Republicans, U.S, Delaware U.S Locations: Delaware, Ukrainian

☆ A major student-loan company is transitioning millions of borrowers' accounts to a new platform — and it could mean up to 30-day delays posting payments
▼ + stars: | 2023-10-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan company MOHELA said on its website that it's transitioning borrowers to a new platform. The switch could mean up to 30-day delays in posting new payments. MOHELA borrowers will have to establish a new account on the platform, and its mobile app will no longer be available once the transition is complete. The announcement of this change comes less than a month after federal student-loan payments resumed following an over three-year pause. For borrowers on auto debit with their payments, MOHELA also said it'll have a new name on its new platform: auto pay.

Persons: MOHELA, —, Joe Biden's, Scott Buchanan, servicers —, it'll, Nelnet —, Nelnet Organizations: Service, Joe Biden's Education Department, Student Loan, —, The Education Department

☆ PS5 is fully stocked for first time and on track for record sales this year, top Sony exec says
▼ + stars: | 2023-10-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The PlayStation 5 is fully stocked in stores around the world and will hit Sony's sales target of 25 million units for the year, an executive at the company told CNBC exclusively. That comes after a series of successive console shortages, because of which many players around the world were unable to get their hands on PS5 units. Poor supply volumes linked to the global chip shortage and supply chain disruptions greatly limited the availability of PS5, and Microsoft's Xbox Series X and S.The PS5 and Xbox Series X were notoriously hard to find in stores after their November 2020 launch. Sony, for its part, has struggled to meet demand for the PS5, facing supply shortages each year following the PS5's release. Sony had set itself a target of 25 million PS5 units shipped throughout 2023.

Persons: Eric Lempel, that's, Lempel Organizations: PlayStation, CNBC, Sony

☆ Boeing exec says this is the most complex environment for business operations since World War II
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing exec says this is the most complex environment for business operations since World War IIBrendan Nelson AO, senior vice president at the Boeing Company, cites supply chain disruptions, the climate crisis and the labor market as challenges.

Persons: Brendan Nelson AO Organizations: Boeing, Boeing Company

☆ India's Tech Mahindra posts biggest profit fall in 16 years
▼ + stars: | 2023-10-25 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Tech Mahindra's net profit for the quarter fell 61.6%, its worst performance since March 2007. Consolidated revenue from operations fell 2.02% year-on-year, while expenses rose nearly 7%, led by a 30% jump in "other expenses." "Near-term demand environment remains challenging as the telecom sector, on which Tech Mahindra has a high dependence remains stressed," said Piyush Pandey lead analyst, Yes Securities. Shares of Tech Mahindra closed 1.2% lower ahead of results, with trade volume just shy of three-quarters of the 30-day average.

Persons: Piyush Pandey, Manvi, Varun Organizations: India's Tech Mahindra, Tata Consultancy Services, Infosys, Tech, Consolidated, Tech Mahindra, Yes Securities, Thomson Locations: BENGALURU, dealmaking, U.S, Europe, EBIT, Manvi Pant, Bengaluru

☆ Apple iPhone maker Foxconn being investigated in China as founder runs for Taiwan presidency
▼ + stars: | 2023-10-23 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Taiwan’s Foxconn, one of Apple’s largest suppliers, is being investigated by authorities in China, according to state media. Foxconn, also known as Hon Hai Precision Industry, has iPhone factories in Guangdong and Henan, including the world’s largest in the city of Zhengzhou. The company’s listed unit in Shanghai, Foxconn Industrial Internet, plummeted by its daily limit of 10% on Monday. Terry Gou, Foxconn founder, announces bid for Taiwan presidency during a press event in Taipei on August 28. The crackdown came despite repeated calls from Chinese leaders to welcome more foreign investment to boost the country’s slowing economy.

Persons: Taiwan’s, Terry Gou, won’t, Foxconn, “, ”, Brock Silvers, Gou, Hai, ” Gou, Ann Wang, Lai Ching, — Hou Yu, Ko Wen, Zhang Wensheng, ” Zhang, Silvers Organizations: Hong Kong CNN, Global Times, CNN, Hai Precision Industry, Foxconn Technology, WPP, drugmaker Astellas Pharma, Kaiyuan, “, Apple, Communist, Taiwan, Democratic People’s Party, ih, Kuomintang, Taiwan People’s Party, Beijing, China’s Xiamen University, Financial Times, Shanghai, Economic Observer Locations: China, Hong Kong, Beijing, Guangdong, Jiangsu, Henan, Hubei, Zhengzhou, Shanghai, Taipei, Taiwan

☆ 'Marvel's Spider-Man 2' video game breaks 24-hour PlayStation Studios selling record
▼ + stars: | 2023-10-23 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

"Marvel's Spider-Man 2" broke the record for fastest-selling PlayStation Studios game in its opening 24 hours, according to a release. Consumers purchased more than 2.5 million copies of the game, which debuted Oct. 20, breaking PlayStation Studios' record. Sony Interactive Entertainment, which is the parent company of PlayStation Studios, priced the standard version of the game at $69.99 and offers a deluxe edition for $79.99. Only PlayStation 5 users have access to the new "Marvel's Spider-Man 2," since it is exclusive to that console, according to Marvel. The game, developed by Insomniac Games in collaboration with Marvel Games and PlayStation Studios, allows users to play as both Peter Parker and Miles Morales.

Persons: Peter Parker, Miles Morales, Peter, Miles, Eric Lempel Organizations: PlayStation, Consumers, PlayStation Studios, Sony Interactive Entertainment, Marvel, Insomniac Games, Marvel Games, Sony Locations: New York City, Sony's

☆ China’s leaders speed towards Japanisation
▼ + stars: | 2023-10-20 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

LONDON, Oct 20 (Reuters Breakingviews) - China’s real estate market is in decline. The trouble is that China’s economic imbalances are far worse than Japan’s in 1990. Yet China’s GDP per capita has reached only half of Japan’s level in 1990. China’s economic misdirection is catalogued in Yasheng Huang’s “The Rise and Fall of the East”. After 1978 the authorities gave provincial governments substantial freedom to promote economic growth and rewarded them for meeting a growth target.

Persons: Xi, Xi Jinping, Huang, –, Xi’s, Beijing’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Monetary Fund, South, Asian, IMF, Reuters Graphics Reuters, Bank for International, MIT Sloan School of Management, HK, Communist, Huawei, Washington, Thomson Locations: Marrakech, People’s Republic, China, South Korea, Japan, deflate, Tokyo, California, Beijing, Taiwan, Communist

Days after Mat Ishbia reached a deal in December to buy majority stakes in the N.B.A.’s Phoenix Suns and the Phoenix Mercury of the W.N.B.A., he met with top executives to learn more about the teams’ business operations, including how local fans were able to watch their games on TV. The executives detailed three possibilities going forward, including sticking with Diamond Sports Group, which owned the regional sports network that for more than a decade had held the rights to show the teams’ games. It might cost the teams money in the short term, but the bet was that it would help them reach more fans, including those who dropped their cable subscriptions or, like many younger fans, never had one. “What was interesting was the amount of people that were reaching out to me on social media about how they couldn’t watch the Suns games,” Mr. Ishbia said in an interview, adding: “It’s their team. To not be able to watch your game wasn’t an option that we were interested in.”

Persons: Mat Ishbia, Ishbia, ” Mr, It’s, ” Organizations: Phoenix Suns, Phoenix Mercury, Diamond Sports Group, Diamond Sports, Suns, Mercury

The new restrictions will also affect rival chips produced by Advanced Micro Devices (AMD.O) and Intel (INTC.O), according to analysts. In its filing, Nvidia said two of its modified advanced AI chips - the A800 and H800 - both of which it created for the Chinese market to comply with previous export rules, would be blocked for sale under the new rules. Nvidia declined to comment beyond the filing. Chips being built by Intel and Advanced Micro Devices that aim to compete with Nvidia will also be impacted. Intel declined to comment on the Gaudi 2 chip and said it was assessing the new rules.

Persons: Dado Ruvic, Dylan Patel, Intel's Gaudi, Bernstein, Stacy Rasgon, Patel, Biden, chipmaker, Yuvraj Malik, Max A, Sriraj Kalluvila, Leslie Adler Organizations: NVIDIA, REUTERS, Nvidia, Beijing, Micro Devices, Intel, Gaudi, AMD, Thomson Locations: China, Bengaluru, Max, San Francisco

PHILADELPHIA (AP) — Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. In 2022, Rite Aid settled for up to $30 million to resolve lawsuits alleging pharmacies contributed to an oversupply of prescription opioids. The plan will “significantly reduce the company's debt” while helping to “resolve litigation claims in an equitable manner,” Rite Aid said. The Justice Department acted after three whistleblowers who had worked at Rite Aid pharmacies filed a complaint. Earlier this month, Rite Aid notified the New York Stock Exchange that it was not in compliance with listing standards.

Persons: Jeffrey Stein, Elizabeth Burr Organizations: PHILADELPHIA, —, Rite Aid, Aid, Justice Department, The, New York Stock Exchange, U.S . Securities, Exchange Locations: — Major, New Jersey

The deal would value Arriva, which operates red London buses and train services in the UK, at around 1.6 billion euros ($1.68 billion) including debt, the sources said. However, while the deal is nearing final stages, the sources cautioned that the timing could still shift. Deutsche Bahn said in an emailed statement: "We want to sell DB Arriva by the end of 2024. Reuters reported in April that British transport company FirstGroup (FGP.L) and I Squared had been weighing competing bids for parts of Arriva. Its annual sales rose to 4.2 billion euros in 2022, making up 7.5% of Deutsche Bahn's total revenue.

Persons: Andrew Couldridge, Emma, Victoria Farr, Andres Gonzalez, Markus Wacket, Susan Fenton Organizations: Arriva, REUTERS, Squared Capital, Deutsche, Reuters, Financial Times, Deutsche Bahn, DB Arriva, London's, Cross Country, Deutsche Bahn's, Thomson Locations: Harlow , Britain, FRANKFURT, LONDON, Miami

Insider spoke with startup founders and VCs who are managing companies while aiding the war effort. Startup founders and employees have traveled back to Israel from their homes abroad to take up arms and defend their country. The call to serveIn Israel, military service is mandatory for all citizens over 18. These startup founders and employees are using the skills they use every day like problem solving, multitasking and leading during the war effort. "I'm lucky to be a cofounder not a sole founder, so I'm relying on my cofounder," Kandel explained.

Persons: Israel, VCs, —, Oren Kandel, I'm, We're, Munch, Kandel, Isaac Gili, Jon Medved, David, Noy, Danielle Eisenberg, Leyb, Eisenberg, I've, Medved, Oren Kandel Kandel, that's, Ben Yellin, Ofer Sharon, Itamar Friedman, " Eisenberg, Tasmin Lockwood Organizations: Palestinian, Hamas, Service, Wednesday, Israeli Defense Forces, Startup, Israel Relief, Microsoft, Israel, Tel, Lightspeed Venture Partners, GGV, Insight Partners Locations: Gaza, Israel, Gedera, New York, cyberintelligence, Tel Aviv, Binyamina

☆ China gives Ehang the first industry approval for fully autonomous, passenger-carrying air taxis
▼ + stars: | 2023-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An EHang all-electric Vertical Takeoff and Landing (eVTOL) two-passenger multicopter aircraft, performs an unmanned display flight at a Korean government event at Yeouido island in Seoul on November 11, 2020. BEIJING — Self-driving air taxis are one step closer to reality in China. Guangzhou-based Ehang on Friday said it received an airworthiness "type certificate" from the Civil Aviation Administration of China for its fully autonomous drone, the EH216-S AAV, that carries two human passengers. The regulator is the equivalent of the Federal Aviation Administration in the U.S.U.S.-listed Ehang claims it's the first in the world to get such a certificate, which allows it to fly passenger-carrying autonomous electric vertical take-off and landing (eVTOL) aircraft in China. Ehang shares have nearly doubled in price this year, before trading was temporarily halted Monday "in anticipation of an upcoming announcement concerning a very significant development regarding its business operations."

Persons: it's, Huazhi Hu, Ehang Organizations: BEIJING —, Civil Aviation Administration, China, Federal Aviation Administration, U.S ., CNBC Locations: Seoul, BEIJING, China, Guangzhou, U.S . U.S, U.S, Europe, Southeast Asia

☆ Country Garden founding family provides $300 mln loan, selling jet - report
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Oct 13 (Reuters) - The founding family of Country Garden (2007.HK) recently loaned the embattled Chinese property developer $300 million interest free, and the family was also trying to sell its private jet, a Chinese online news outlet, The Paper, reported on Friday. Another online news outlet, Cailianshe, reported earlier that founder Yeung Kwok Keung had already sold a new jet and was trying to sell another. Country Garden declined to comment. Country Garden's 30-day grace periods to make the missed coupon payments will start expiring next week.

Persons: Aly, Yeung Kwok Keung, Yeung, Mo Bin, Yang Huiyan, Clare Jim, Simon Cameron, Moore Organizations: Shanghai Country Garden, REUTERS, HK, Thomson Locations: Shanghai, China, HONG KONG, Shunde, Guangdong province

☆ While ChatGPT stokes fears of mass layoffs, new jobs are being spawned to review AI
▼ + stars: | 2023-10-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

The logo of generative AI chatbot ChatGPT, which is owned by Microsoft-backed company OpenAI. Generative AI, which enables AI algorithms to generate humanlike, realistic text and images in response to textual prompts, is trained on vast quantities of data. Job postings on LinkedIn that mention either AI or generative AI more than doubled globally between July 2021 and July 2023, according to the jobs and networking platform. Mesh AI, a digital transformation-focused consulting firm, says that human feedback can help AI models learn mistakes they make through trial and error. WATCH: Adobe CEO on new AI models, monetizing Firefly and new growth

Persons: Morgan Stanley, Phelim Bradley, Bradley, ethicists, —, Hume, Alan Cowen, Hume's, there's, Michael Chalmers Organizations: Microsoft, Future Publishing, Meta, Google, University of Oxford and University College London, CNBC, Oxford Science Enterprises

In the memo, Bankman-Fried called Alameda's failure to hedge its bets a "mistake." When Everdell asked if the decision not to hedge was Ellison's, Wang replied that she was Alameda's CEO at the time. Prosecutors said last week they planned to call Ellison to take the stand once Wang finishes his testimony. She was seen entering the courthouse on Tuesday morning wearing a blue baseball cap and sunglasses, and carrying a blue thermos. A third former member of Bankman-Fried's inner circle, ex-FTX engineering chief Nishad Singh, is also expected to testify at trial.

Persons: Sam Bankman, Eduardo Munoz, Caroline Ellison, Christian Everdell's, Gary Wang, Everdell, Wang, Ellison, Prosecutors, Fried, District Judge Lewis Kaplan, Nishad Singh, FTX, Christian Everdell, Mark Cohen, Luc Cohen, Jody Godoy, Noeleen Walder, Matthew Lewis, Nick Zieminski Organizations: REUTERS, Alameda Research, New York Times, U.S, District, Brooklyn's Metropolitan Detention Center, Bankman, Alameda, Thomson Locations: New York, U.S, Manhattan, Brooklyn's, Alameda, Washington ,

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