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Sept 26 (Reuters) - Shares of Immunovant (IMVT.O) surged nearly 80% on Tuesday, after early-stage data from its experimental antibody treatment exceeded analysts' expectations. Immunovant is developing its antibody drug, IMVT-1402, as an under-the-skin injection to potentially treat autoimmune diseases. Immunovant's experimental drug reduced the levels of IgG, or immunoglobulin antibodies, that cause inflammation and disease in healthy adults. Shares of Roivant Sciences (ROIV.O), Immunovant's largest shareholder with a 56.5% stake, according to LSEG data, also rose 17.5% to $12. The positive data from IMVT-1402 could give Roivant another "potentially blockbuster" candidate to transact, after its experimental treatment for bowel disease, Jefferies analyst Dennis Ding said.

Persons: J.P, Morgan, Brian Cheng, drugmakers Johnson, Johnson, Hytrulo, Immunovant, transact, Jefferies, Dennis Ding, Bhanvi, Krishna Chandra Organizations: UCB, Roivant Sciences, Thomson Locations: United States, York, IMVT, Bengaluru

At one point, the indictment said, Menendez Googled the phrase "price of a kilo of gold." "People are salivating at the opportunity to have an open Senate seat, which might lead to an open congressional seat, which might lead to an open state Senate seat, which might call into question who might be the state Senate president," Harrison says. Democratic members of Congress from neighboring states – including a Latina, Rep. Alexandria Ocasio-Cortez, have called on Menendez to resign. "It is hard for me to believe that Sen. Menendez can be effective in his job, given these allegations. But I think I want to get back and talk to my colleagues on the Foreign Relations Committee before I recommend a path forward for Sen. Menendez,” Sen. Chris Murphy, Connecticut Democrat, told MSNBC in an interview on Sunday.

Persons: Andrew Cuomo, Cuomo, Anthony Weiner wasn't, Weiner, –, Nancy Pelosi, Sen, Bob Menendez, Jersey pols, Brandon Rottinghaus, Menendez –, Menendez, Nadine, Fidel Castro, Menendez's, Robert Menendez Jr, Phil Murphy, Andy Kim, Murphy, Brigid Harrison, Harrison, Alexandria Ocasio, Summer Lee of Pennsylvania, John Fetterman of, Donald Trump, ” Sen, Chris Murphy, Mark Kelly, Pelosi, didn't, Joe Biden, James Traficant, Traficant, Gary Condit, Chandra Levy, Condit, George Santos, ” Santos, they’re, ”, Rottinghaus Organizations: Democratic, New, Twitter, Bob Menendez of New, Senate Foreign Relations, University of Houston, Foreign, Prosecutors, Foreign Relations, Banking, Housing, Urban Affairs Committee, Gov, Democratic Party, Montclair State University, Latina, Connecticut Democrat, MSNBC, United State Senate, Arizona Democrat, CBS, James Traficant , Ohio Democrat, House, Capitol Locations: New York, Bob Menendez of, Bob Menendez of New Jersey, Jersey, New Jersey, Union City , New Jersey, Cuba, Alexandria, Cortez, John Fetterman of Pennsylvania, Connecticut, Arizona, James Traficant , Ohio, California, Rock Creek

☆ FDA staff reviewers raise concerns over BrainStorm Cell's ALS therapy
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. Brainstrom's therapy, NurOwn, is being reviewed for the treatment of ALS, also known as Lou Gehrig's Disease, which affects nerve cells in the brain and spinal cord. The FDA had in November last year refused to accept the application for the therapy after BrainStorm failed to meet the main goal in a late-stage study. Over the last one year, the FDA has given accelerated approvals to Amylyx Pharmaceuticals' (AMLX.O) drug Relyvrio and Biogen's (BIIB.O) Qalsody for treatment of ALS. A panel of external advisors to the FDA is set to vote on the effectiveness of the therapy in ALS patients on Wednesday.

Persons: Andrew Kelly, Lou Gehrig's Disease, Amylyx, Mariam Sunny, Leroy Leo, Krishna Chandra Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug, Cell Therapeutics, Amylyx Pharmaceuticals, ALS Association, Thomson Locations: White Oak , Maryland, U.S, Bengaluru

☆ Amazon to roll out ads on Prime Video in 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of streaming service Amazon Prime Video is seen in this illustration picture taken March 5, 2021. REUTERS/Danish Siddiqui/Illustration/File Photo Acquire Licensing RightsSept 22 (Reuters) - Amazon (AMZN.O) Prime Video will next year join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier, as the industry grapples with a slowdown in subscriber growth since the pandemic. Amazon's ad-free tier will cost another $2.99 per month in the U.S., where a Prime subscription currently costs $14.99 per month, or $139 per year. Amazon already shows ads on live event content such as NFL's Thursday Night Football, a practice that will continue even if the subscriber has paid for the ad-free plan, the company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D'Souza and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Danish Siddiqui, Amazon's, Walt Disney, Samrhitha, Savio D'Souza, Krishna Chandra Organizations: Amazon, REUTERS, Danish, Netflix, Disney, Thomson Locations: U.S, Germany, Canada, France, Italy, Spain, Mexico, Australia, Bengaluru

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Broadcom falls on report Google discussed dropping firm as AI chip supplier
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The report said Google's deliberations follow a standoff between the company and Broadcom over the price of the TPU chips. Broadcom, Google and Marvell did not immediately respond to Reuters' requests for comment. Broadcom is seen as the second-biggest winner from the generative AI boom after Nvidia (NVDA.O). Google co-designs its AI chips with Broadcom and tech giant has already lined up the semiconductor firm for its sixth generation processor, the analysts said. That push has accelerated this year after prices surged for Nvidia's H100, the chip that powers most generative AI apps, to nearly double its original cost of $20,000.

Persons: Dado Ruvic, Marvell, Hock Tan, Morgan, Kanjyik Ghosh, Aditya Soni, Savio D'Souza, Nivedita Bhattacharjee, Krishna Chandra Organizations: Broadcom, REUTERS, Google, Microsoft, Marvell Technology, Nvidia, Meta, Nvidia's, Thomson Locations: J.P, Bengaluru

☆ India's Wipro says CFO Dalal resigns, replaced by 20-year veteran Iyer
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Wipro Ltd logo is seen displayed in this illustration taken, April 10, 2023. Dalal will be replaced by Aparna Iyer, also a 20-year veteran who was most recently senior vice president and CFO of Wipro's cloud services unit, the company said. While Iyer will take over as CFO on Sept. 22, Dalal will stay on until Nov. 30, Wipro said. Dalal, who became CFO in 2015, and CEO Thierry Delaporte guided Wipro through the pandemic years as demand for digital services boomed. Delaporte said in a statement that Iyer has been integral to Wipro's finance transformation over the last few years.

Persons: Dado Ruvic, Jatin Dalal, Aparna Iyer, Iyer, Dalal, Thierry Delaporte, Goldman Sachs, Delaporte, Ashish Chandra, Savio D'Souza Organizations: Wipro, REUTERS, Rights, Indian IT, Thomson Locations: Indian, Bengaluru

☆ Cheerios maker General Mills beats quarterly sales, profit estimates on higher prices
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Packages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. Its organic average selling prices rose 7 points, while organic volumes were down 2 points. Its pet food segment logged flat organic net sales as customers shifted towards more value-oriented products as well as smaller pack sizes. The Cheerios cereal maker reported net sales of $4.91 billion in the first quarter compared with analysts' expectations of $4.88 billion, according to LSEG data. Excluding one-off charges, General Mills earned $1.09 per share, compared with estimates of $1.08.

Persons: General Mills, Andrew Kelly, Mills, Granth, Krishna Chandra Organizations: General, REUTERS, North, Thomson Locations: Manhattan , New York, U.S, Minnesota, North America, Bengaluru

☆ Gold steadies as investors brace for key cenbank verdicts
▼ + stars: | 2023-09-18 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold was flat at $1,923.40 per ounce by 09:59 a.m. EDT (1359 GMT). Non-yielding gold tends to fall out of favour among investors when interest rates rise. [USD/Chinese gold prices hit record highs last week, extending a months-long rally as consumers snap up the safe-haven asset to offset a depreciating yuan. "While the developments in China are worth watching, we currently do not believe that this will change the outlook for the gold market," said Julius Baer analyst Carsten Menke. Reporting by Brijesh Patel and Anjana Anil in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Moya, CME's, Kazuo Ueda, Julius Baer, Carsten Menke, Brijesh Patel, Anjana Anil, Krishna Chandra Organizations: Wednesday, U.S . Federal Reserve, The Bank of, U.S, Treasury, Thomson Locations: requisitions, The Bank of England, China, Bengaluru

☆ Astronomy Photographer of the Year 2023: Stunning shot of giant plasma arc scoops top prize
▼ + stars: | 2023-09-15 | by ( Amarachi Orie | ) edition.cnn.com time to read: +4 min

CNN —A photograph of a huge plasma arc next to the Andromeda Galaxy, the closest large spiral galaxy to the Milky Way, has won the 2023 Astronomy Photographer of the Year competition for a team of amateur astronomers. A team of amateur astronomers, led by Marcel Drechsler from Germany and Xavier Strottner from France, discovered a previously unknown galactic nebula. Marcel DrechslerScientists are now investigating the large object, which is in the immediate vicinity of the Andromeda Galaxy, in a transnational collaboration, according to the observatory. The nebula is located in the Centaurus constellation, about 6,000 lights year away from Earth, according to the release. Two 14-year-old boys from China won Young Astronomy Photographer of the Year for their image of The Running Chicken Nebula.

Persons: Marcel Drechsler, Xavier Strottner, Yann Sainty, ”, astrophotographer, —, Runwei Xu, Binyu Wang, Yuri Beletsky, Monika Deviat, Ethan Chappel, Eduardo Schaberger Poupeau, John White, Chandra, Katherine Gazzard Organizations: CNN, Andromeda, Observatory Greenwich, Young, China, Young Astronomy, Sun, Perseus, Art, Royal Museums Greenwich, Maritime Museum Locations: Germany, France, China

☆ Instacart raises IPO price range after robust Arm debut
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The price hike signals robust investor demand for San Francisco-based Instacart, which is looking to finally list its shares this month after years of waiting in the wings. Investors will be pinning hopes on robust debuts from Instacart, Klaviyo and Neumora to carry the momentum in the IPO market after Arm's strong showing on Thursday. Instacart said it is now seeking to sell 22 million shares at $28 to $30 each. At the top end of the range, the IPO will fetch $660 million compared with the earlier target of $616 million. The company's raised valuation target, however, would still be just one-fourth of the $39 billion it was worth after its last funding round more than two years ago.

Persons: Dado Ruvic, Group's, Instacart, Goldman Sachs, J.P, Morgan, Niket, Krishna Chandra Organizations: REUTERS, Arm Holdings, San, Neumora Therapeutics, Instacart, Cornerstone, PepsiCo, Instacart's, Thomson Locations: San Francisco, Bengaluru

☆ Birkenstock reveals 21% revenue jump in updated financials ahead of IPO
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsSept 15 (Reuters) - German premium footwear maker Birkenstock Holding's revenue jumped 21% in the nine months ended June 30, it said in updated paperwork for a U.S. stock market listing on Friday. The company, backed by private equity firm L Catterton, is one of a handful of high-profile firms gearing up for a stock market debut. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16% to 387 million euros in the same period. Goldman Sachs, J.P. Morgan and Morgan Stanley are among the underwriters for the IPO.

Persons: Fabrizio Bensch, Birkenstock, Barbie, Margot Robbie, Goldman Sachs, J.P, Morgan, Morgan Stanley, Niket, Krishna Chandra Organizations: REUTERS, SoftBank, Arm Holdings, underwriters, Thomson Locations: Berlin, Germany, U.S, Bengaluru

☆ Casino giant Caesars confirms data breach
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Sept 14 (Reuters) - Caesars Entertainment (CZR.O) on Thursday confirmed a data breach that led to a leak of information, including details from its loyalty program database. The company said hackers accessed details, including driver's license numbers and possibly social security numbers, for a "significant number of members in the database". Caesars added it is still investigating the extent of the data leak "acquired by the unauthorized actor" and has no evidence to date that any member passwords/PINs, bank account information or payment card information were accessed. Another casino operator MGM International (MGM.N) was also allegedly hacked by a group called Scattered Spider, Bloomberg News had reported. Analysts at Moody's have warned MGM Resorts may see a negative impact to its credit rating after the recent data breach.

Persons: Priyamvada, Krishna Chandra Organizations: Caesars Entertainment, Caesars, Wall Street, MGM, Bloomberg News, Reuters, Moody's, MGM Resorts, Thomson Locations: Bengaluru

☆ Tata Motors tests export markets for EVs, to roll out EV-only dealerships in India
▼ + stars: | 2023-09-14 | by ( Aditi Shah | ) www.reuters.com time to read: +4 min

[1/5] Tata Motors' Nexon and Nexon.ev cars are seen parked for display outside a hotel ahead of its launch in New Delhi, India, September 14, 2023. Chandra said it was too early to discuss details of the export markets and there would be more clarity next year. Sales of EVs globally have been growing as tighter emission regulations push carmakers to increase the share of electric cars in their portfolio. Growing sales and the new Nexon EV have become the catalyst for its plan to launch EV-only dealerships, Chandra said. Tata has a country-wide dealership network for its gasoline and diesel cars through which it currently also sells its EVs.

Persons: Anushree, Shailesh Chandra, Chandra, Tata, Tesla, Aditi Shah, Sharon Singleton Organizations: Tata Motors, REUTERS, India EV, Reuters, Tata, China's, Mahindra, Thomson Locations: New Delhi, India, BYD, Mumbai

☆ Canada's Laurentian Bank says completed review of strategic options
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The logo of Laurentian Bank is seen at its head offices in Montreal, April 1, 2015. REUTERS/Christinne Muschi Acquire Licensing RightsSept 14 (Reuters) - Canada's Laurentian Bank (LB.TO) said on Thursday it has completed a previously disclosed review of strategic options, with the lender now focusing on simplifying its organizational structure. "The Board, with the support of the Executive Management Team, has unanimously concluded that the best path forward is... accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification," Laurentian said. However, later that month, a media report citing sources said Montreal-based Laurentian was struggling to find an acquirer and that Canada's top banks - Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) - had backed out of a potential acquisition. Laurentian said it considered a variety of options through the review process, including an acquisition of the whole bank and divesting certain businesses.

Persons: Christinne, Manya Saini, Krishna Chandra Organizations: Laurentian Bank, REUTERS, Executive Management Team, Laurentian, Bank of Nova, Dominion Bank, Thomson Locations: Montreal, Bank of Nova Scotia, Toronto, Bengaluru

☆ US Declares Public Health Emergency in Georgia After Hurricane Idalia
▼ + stars: | 2023-09-13 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The U.S. Department of Health and Human Services (HHS) on Wednesday declared a public health emergency (PHE) for the state of Georgia to deal with the ramifications of Hurricane Idalia. The hurricane hit Florida's Gulf Coast in late August with fierce winds, torrential rains and pounding surf before turning to southeastern Georgia, where floodwater trapped some residents in their homes. With the PHE declaration, healthcare providers and suppliers will have greater flexibility in meeting emergency needs of people covered by the Medicare and Medicaid health plans, the HHS said. "We are working closely with state and local health authorities, as well as our partners across the federal government, and stand ready to provide additional public health and medical support," said health secretary Xavier Becerra. The declaration waives certain requirements such as physicians or other healthcare professionals needing to hold licenses in the state in which they provide services.

Persons: floodwater, Xavier Becerra, Christy Santhosh, Rahul Paswan, Krishna Chandra Eluri Organizations: Reuters, U.S . Department of Health, Human Services, Wednesday, HHS Locations: Georgia, Coast, Bengaluru

Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.

Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia

☆ Oracle tumbles as strong cloud competition, Cerner weakness dent forecast
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. The company was on track to lose about $30 billion in market value, based on its premarket share price of $115. "We continue to believe high single-digit growth might be unsustainable for Oracle given Cerner integration risks and formidable data center competition," D.A. Most analysts, however, were positive on the company and attributed the share price decline to Oracle's rally in the run-up to earnings. But they highlighted strong deferred revenue, AI backlog commentary and some positive signs in the cloud business as positives.

Persons: Dado Ruvic, Safra Catz, D.A, Davidson, Gil Luria, Aditya Soni, Krishna Chandra Organizations: Oracle, REUTERS, Amazon Web Services, Google, Barclays, Thomson Locations: Bengaluru

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI's one million-a-day target by 2023 end. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank account details. The facility, announced in June, has been activated by large banks, including State Bank of India, the country's largest lender. Top private lender HDFC Bank is working with a technology firm IDEMIA to build a version of offline CBDC transactions for feature phones, according to two people aware of the plans.

Persons: Danish Siddiqui, Sharat Chandra, Akhil Handa, Handa, Jaspreet Kalra, Siddhi Nayak, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Danish, Rights, Reserve Bank of India, UPI, State Bank of India, India Blockchain, HDFC Bank, Bank of Baroda, Thomson Locations: Mumbai, India, Rights MUMBAI, Siddhi

☆ Hearst Television pulls local channels for Dish customers
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Sept 8 (Reuters) - Dish Network (DISH.O) said on Friday U.S.-based Hearst Television removed customer access to 37 local channels in 27 markets after the companies failed to agree on distribution rates despite months of talks. "Hearst is demanding tens of millions of dollars in rate increases that would affect customers," Dish said, adding that Hearst expects Dish and its customers to foot the bill. In a message to Dish subscribers, Hearst Television said, "We have made significant investments to deliver top-tier programming to our viewers and Dish is seeking the right to carry our stations at below market rates, which is neither fair nor reasonable." Dish said the move affects viewers of ABC and NBC, among other channels. Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri, Shilpi Majumdar and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Hearst, Gary Schanman, Akash Sriram, Krishna Chandra Eluri, Shilpi Majumdar, Devika Organizations: Dish, U.S, Hearst Television, Disney, Charter Communications, Hearst, ABC, NBC, Thomson Locations: Bengaluru

Morgan Stanley analyst Erik W Woodring said Apple's share losses were "overdone" as he does not believe the curbs will lead to something broader. He added the worst case scenario was a 4% revenue hit and a 3% earning impact for the company. Analysts said U.S. sanctions on Huawei, in place since May 2019, hit the company's supply chain, helping Apple increase iPhone shipments to China and grab market share. J.P.Morgan said China's restrictions will make it tougher for Apple to continue to gain market share in China. BofA estimated a $0.11 to $0.34 earnings per share hit to Apple if Huawei was able to gain market share from the iPhone maker.

Persons: Thomas Peter, Morgan Stanley, Erik W Woodring, Woodring, HWT.UL, J.P.Morgan, Aniruddha Ghosh, Krishna Chandra Organizations: Apple, REUTERS, Wall Street, Beijing, BofA Global Research, Huawei Technologies, Huawei, Thomson Locations: Beijing, China, Bengaluru

☆ India’s Chandrayaan lunar lander goes to seep
▼ + stars: | 2023-09-07 | by ( Jackie Wattles | ) edition.cnn.com time to read: +8 min

The Chandrayaan-3 spacecraft landed on the lunar surface on August 23. The Chandrayaan-3 lander is captured by NASA's Lunar Reconnaissance Orbiter, which is currently in orbit around the moon. The day after landing, the ISRO confirmed that the Chandryaan-3 lander had successfully deployed the six-wheeled lunar rover that had ridden to the surface tucked inside the spacecraft’s body. pic.twitter.com/1g5gQsgrjM — ISRO (@isro) August 26, 2023Together, the lander, which weighs about 1,700 kilograms (3,748 pounds), and the 26-kilogram (57.3-pound) rover are packed with nearly a dozen scientific instruments. Else, it will forever stay there as India’s lunar ambassador,” the ISRO posted on X.

Persons: Narendra Modi, NASA's, —, Luna, ove Organizations: CNN, Soviet Union, NASA's Goddard Space Flight, Arizona State University, Indian Space Research Organization, ISRO Locations: India, United States, China, Chandryaan, Russia

☆ C3.ai falls after AI-play drops profit target
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

The $3.71 billion stock, among the small-cap AI firms that have benefited from excitement around Generative AI sparked by the success of ChatGPT, has surged about 180% so far this year. However, the Redwood City, California-based company scrapped its target to achieve quarterly profit by April 30, 2024 as it looks to invest in its Generative AI solutions. "After careful consideration... we have made the decision to invest in lead generation, branding, market awareness and customer success related to our Generative AI solutions," said CEO Thomas Siebel. Shares are down 21% since early June when the company's disappointing quarterly revenue forecast dented some of the recent euphoria around artificial intelligence-linked stocks. Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Siebel, Pinjalim Bora, Bora, Medha Singh, Krishna Chandra Organizations: Thomson Locations: Redwood City , California, Bengaluru

☆ Warner Bros Discovery plans to offer live sports for free on Max - Bloomberg News
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

The exterior of the Warner Bros. Discovery Atlanta campus is pictured in Atlanta, Georgia, U.S. May 2, 2023. REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsSept 6 (Reuters) - Warner Bros Discovery (WBD.O) plans to offer live sports at no additional price on its Max streaming service for a short period later this year, Bloomberg News reported on Wednesday. The company owns media rights to National Basketball Association and Major League Baseball, among other sporting events. Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, Akash Sriram, Krishna Chandra Eluri, Shilpi Majumdar Organizations: Warner Bros . Discovery, REUTERS, Warner Bros Discovery, Bloomberg, Reuters, National Basketball Association, Major League Baseball, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru

☆ Cummins, Daimler, PACCAR form joint venture for US battery cell production
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer Acquire Licensing RightsSept 6 (Reuters) - Accelera, a zero-emissions business unit of Cummins (CMI.N), Daimler Trucks & Buses US Holding and PACCAR (PCAR.O) said on Wednesday they formed a joint venture to advance battery cell production in the United States. Daimler Truck, Accelera and PACCAR will each own 30% of the joint venture, which will initially focus on LFP battery technology family for commercial battery-electric trucks. "This planned joint venture enables economies of scale beyond Daimler Truck," said Martin Daum, CEO of Daimler Truck. LFP battery-cell maker EVE Energy (300014.SZ) will also serve as the technology partner in the joint venture with a 10% ownership. LFP battery cells were developed in the United States, but Chinese companies such as BYD (002594.SZ) and CATL (300750.SZ) currently dominate global production.

Persons: Daimler, Fabian Bimmer, Martin Daum, Nathan Gomes, Krishna Chandra Organizations: IAA Transportation, REUTERS, Cummins, Daimler Trucks, Toyota, Ford Motor, Hyundai, Daimler, EVE Energy, Thomson Locations: Hanover, Germany, United States, Bengaluru

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