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☆ Honda hikes production workers' pay 11% after UAW deals with Detroit Three
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David 'Dee' Delgado Acquire Licensing RightsNov 10 (Reuters) - Honda Motor (7267.T) said on Friday it was implementing an 11% pay hike for production workers at its U.S. facilities from January, days after the United Auto Workers (UAW) union and the Detroit Three automakers agreed to new contracts. Non-unionized automakers such as Honda have come under pressure to improve pay and benefits following record contracts the UAW won at the Detroit Three automakers. "Union auto workers own this victory," Biden said in a Friday post on X. Honda's pay hike comes after Toyota (7203.T) said last week it was raising the wages of its non-union U.S. factory workers. Honda had told Reuters it was evaluating the recent UAW deals with the Detroit Three automakers and would remain competitive.

Persons: David, Dee, Delgado, Joe Biden, Biden, carmakers Tesla, Priyamvada C, Nathan Gomes, David Shepardson, Anil D'Silva, Krishna Chandra Eluri, Aurora Ellis Organizations: New York, REUTERS, Honda, United Auto Workers, UAW, Detroit Three, U.S, Toyota, autoworkers, General Motors, Ford Motor, Chrysler, UAW . Union, Detroit, Tesla, Reuters, Thomson Locations: Manhattan , New York City, U.S, Illinois, America, United States

☆ Hawaiian Electric delays quarterly filing due to fund for Maui fire victims
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Utility firm Hawaiian Electric (HE.N) said on Thursday it would be unable to submit its quarterly filing with the U.S. securities regulator on time, due to its expected contribution towards a fund to compensate victims of the deadly wildfires in Maui. Hawaii's governor Josh Green on Wednesday announced a $150 million fund that provides an option for families who have lost a loved one and those who were severely injured to receive substantial payments. Hawaiian Electric will contribute $75 million to the fund. The announcement of the initiative and the anticipated contribution require changes to the financial statements that lead to the delay, it said. Reporting by Sourasis Bose in Bengaluru; Editing by Shounak Dasgupta and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Josh Green, Sourasis Bose, Shounak Dasgupta, Krishna Chandra Organizations: Wednesday, Thomson Locations: Maui, Bengaluru

REUTERS/Mohammad Ponir Hossain/File photo Acquire Licensing RightsNEW DELHI, Nov 9 (Reuters) - Global fashion retailers including H&M (HMb.ST) and Gap (GPS.N) are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers' wages, a U.S.-based association representing more than 1,000 brands said. Asked if they would raise purchase prices by the 5-6% that costs will rise, Stephen Lamar, chief executive of the American Apparel & Footwear Association (AAFA), told Reuters: "Absolutely". "We also renew our pleas for the adoption of an annual minimum wage review mechanism so that Bangladeshi workers are not disadvantaged by changing macroeconomic conditions." Low wages have helped Bangladesh build its garment industry, which employs about 4 million people. Retailers in the United States and Europe are the main buyers of Bangladesh-made clothes.

Persons: Mohammad Ponir Hossain, Stephen Lamar, Lamar, Sheikh Hasina, Hasina, Krishna N, Ruma Paul, Miral Organizations: The Civil Engineering, REUTERS, Labour, American Apparel & Footwear Association, Reuters, International Labour Organization, Abercrombie & Fitch, Bangladesh, Retailers, Thomson Locations: Dhaka, Bangladesh, DELHI, U.S, China, Vietnam, Cambodia, United States, Europe

☆ Earnings not providing 'meaningful upside catalysts' to the market, says Barclays' Venu Krishna
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings not providing 'meaningful upside catalysts' to the market, says Barclays' Venu KrishnaVenu Krishna, Barclays Head of US Equity Strategy, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: Venu Krishna Venu Krishna Organizations: Barclays, US Equity

☆ China's Zeekr reveals wider loss, Beijing influence in US IPO paperwork
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Zeekr, owned by Chinese automaker Geely Auto (0175.HK), had confidentially filed for its initial public offering (IPO) in December last year. Didi had angered Chinese regulators by pushing ahead with its $4.4 billion New York listing despite being asked to put it on hold. For the six months ended June 30, the company reported a net loss of 3.87 billion Chinese yuan ($531.34 million), compared with 3.09 billion Chinese yuan a year earlier. It will list its shares on the New York Stock Exchange under the ticker symbol "ZK". ($1 = 7.2835 Chinese yuan renminbi)Reporting by Niket Nishant, Manya Saini, Jaiveer Shekhawat and Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra Eluri and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Zeekr, Didi, Goldman Sachs, Morgan Stanley, Niket Nishant, Manya Saini, Jaiveer, Mehnaz Yasmin, Krishna Chandra Eluri, Shilpi Majumdar Organizations: Geely Auto, HK, Reuters, New York Stock Exchange, underwriters, Thomson Locations: Beijing, New York, U.S, York, China, Bengaluru

☆ AMC beats quarterly revenue estimates on 'Barbenheimer' boost
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 8 (Reuters) - AMC Entertainment (AMC.N) beat third-quarter revenue estimates on Wednesday, riding on the success of "Barbie" and "Oppenheimer" movies as volumes of theatrical releases also improved at the box office. Attendance in AMC theaters increased 38.4% to 73,576 in the third quarter. The movie theater chain posted revenue of $1.41 billion for the quarter ended Sept. 30, compared with estimates of $1.26 billion, according to LSEG data. "For both revenue and adjusted EBITDA, these were AMC's most successful third-quarter results in our company's entire 103-year history," Aron added. AMC's profit per share stood at 8 cents, compared with estimates of a loss of 19 cents per share.

Persons: Mario Anzuoni, Oppenheimer, Alicia Reese, Taylor Swift, Beyonce, Adam Aron, Aron, Jaspreet Singh, Krishna Chandra Eluri, Shounak Organizations: AMC, REUTERS, AMC Entertainment, Thomson Locations: Burbank , California, U.S, Bengaluru

[1/5] Garment workers come out of a factory during lunch hours at the Ashulia area, outskirts of Dhaka, Bangladesh, November 8, 2023. A panel of factory owners, union leaders and officials agreed to the increase unanimously, said Siddiqur Rahman, the owners' representative. "We continue to recommend that the government of Bangladesh adopt an annual minimum wage review mechanism to keep up with changing macroeconomic factors," the letter said. In addition to the wage increase, the government has said that workers would be given a 5% annual increment. Babul Akter, president of the Bangladesh Garment and Industrial Workers Federation, urged global brands to pay more, saying: "There could be some problems for the owners to cope with the increased salaries."

Persons: Mohammad Ponir Hossain, Siddiqur Rahman, Rahman, Inditex, Hugo Boss, Fazlul Hoque, Hoque, Levi Strauss, Armour, Sheikh Hasina, Akter, Abdus Salam Murshedy, Murshedy, Krishna N, Ruma Paul, Miral Organizations: REUTERS, Rights DHAKA, Reuters, Inc, Knitwear Manufacturers, Association, Labour, Abercrombie & Fitch, Adidas, Puma, Bangladesh Garment and Industrial Workers Federation, Envoy Group, Walmart, Hasina's Awami League, Das, Thomson Locations: Dhaka, Bangladesh, DELHI, China, Zara, Ukraine, New Delhi

☆ Occidental Petroleum beats Q3 estimates on higher production
▼ + stars: | 2023-11-08 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The oil and gas company reported a $1.18 a share profit compared to average Wall Street analyst forecasts for an 84 cent a share profit, according to LSEG. Its chemical and midstream unit earnings fell compared to a year ago. Midstream swung to a loss of $130 million from a $104 million profit. Its chemicals business profit fell to $373 million from $580 million a year ago.

Persons: Brendan McDermid, Warren Buffett's, Midstream, Sabrina Valle, Sourasis Bose, Krishna Chandra Eluri, Stephen Coates, Jamie Freed Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Rights, Tuesday, Occidental, Berkshire Hathaway's, Anadarko Petroleum, BlackRock, Devon Energy, Thomson Locations: New York, U.S, Berkshire, Occidental, Texas, Devon, Houston, Bengaluru

REUTERS/Mike Blake Acquire Licensing RightsNov 8 (Reuters) - Lyft (LYFT.O) reported third-quarter revenue and profit surpassing estimates on Wednesday, but gross bookings growth was lower than larger rival Uber's (UBER.N) ride-hailing business. "Softening macro conditions will likely impact Lyft more than its larger peer, Uber," said Angelo Zino, senior equity analyst at CFRA Research. Brewer added that an improved mix of airport rides, scheduled rides and priority pickups also helped margin expansion. Lyft forecast current-quarter adjusted core profit, a key profitability metric closely watched by investors, of $50 million-$60 million, higher than expectations of $48.8 million, according to LSEG data. Lyft said it expects fourth-quarter revenue to grow in mid-single-digits sequentially, compared with market expectation of 4.6% growth, according to Reuters calculations.

Persons: Uber, Mike Blake, Gross, Lyft, Angelo Zino, YipitData, Erin Brewer, Brewer, Akash Sriram, Krishna Chandra Organizations: REUTERS, CFRA Research, Reuters, Thomson Locations: California, Los Angeles , California, U.S, Bengaluru

☆ Mass Grave Recalls the Ugly Past of a City Where ‘Life Is Sweeter’
▼ + stars: | 2023-11-08 | by ( Priya Krishna | More About Priya Krishna | ) www.nytimes.com time to read: +1 min

In 2018, the remains of 95 African Americans — 94 men and one believed to have been a woman — were found during the construction of a technical school in Sugar Land. The discovery drew national news coverage and calls for a proper memorial, research into the convicts’ lives and broader education about convict leasing. The few public testaments to the lives of these people — known as the Sugar Land 95 — include some references on the city’s website and in local museums, and a small exhibit in a Sugar Land school hallway. Sugar Land officials initially offered to move the remains to a city-owned cemetery, but the proposal failed to win public support and they have since dropped out of discussions. Fort Bend County, which includes Sugar Land, set aside $4 million in 2020 to build a park around the remains, but has since reduced that commitment to $1.5 million.

Persons: ’ Organizations: Americans Locations: Sugar Land, Fort Bend County

☆ FICO reports higher Q4 profit on strength in scores, software businesses
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Fair Isaac (FICO.N), a data and analytics company better known as FICO, reported higher profit for the fourth quarter on Wednesday, helped by strong performance of its scores and software businesses. The company scores segment's revenue jumped 12% to $195.6 million from $174.1 million a year earlier, driven by pricing increases. Revenue from the software unit, which sells analytics and data technologies to businesses, rose 11% to $194.2 million compared with $174.7 million a year earlier. The company reported net income of $101.4 million, or $4.01 per share in the quarter, compared with $90.7 million, or $3.55 per share, a year earlier. Fair Isaac posted revenue of $389.7 million for the three months ended Sept. 30, compared with $348.7 million a year earlier.

Persons: Isaac, FICO.N, Manya Saini, Niket, Krishna Chandra Organizations: Revenue, Thomson Locations: Bengaluru

Nov 8 (Reuters) - NuScale Power (SMR.N) said on Wednesday it has agreed with a power group in Utah to terminate the company's small modular reactor project, dealing a blow to U.S. ambitions for a wave of nuclear energy to fight climate change and sending NuScale's shares down 20%. In 2020, the Department of Energy approved $1.35 billion over 10 years for the plant, known as the Carbon Free Power Project, subject to congressional appropriations. NuScale's Utah plant was expected to be the first SMR to win a license from the U.S. Nuclear Regulatory Commission for construction. An Energy Department spokesperson said it was unfortunate news, but added, "We believe the work accomplished to date on CFPP will be valuable for future nuclear energy projects. So far, only NuScale's SMR design has been approved by the NRC.

Persons: NuScale, John Hopkins, Critics, Biden, Manas Mishra, Timothy Gardner, Shounak Dasgupta, Krishna Chandra Eluri, Leslie Adler Organizations: Department of Energy, Carbon, Power, Utah Associated Municipal Power Systems, SMR, U.S . Nuclear Regulatory Commission, Energy Department, DOE, NRC, Thomson Locations: Utah, Romania, Kazakhstan, Poland, Ukraine, NuScale's Utah, U.S, Bengaluru, Washington

An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023. Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%. Last month, it reported third-quarter deliveries above market expectations. The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier. Its third-quarter production fell nearly 30% to 1,550 vehicles.

Persons: Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra Organizations: Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson Locations: Costa Mesa , California, U.S, Bengaluru, San Francisco

☆ Lucid cuts full-year production forecast
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] A Lucid Motors facility is pictured in Costa Mesa, California, U.S.,November 1, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Lucid Group Inc FollowNov 7 (Reuters) - Lucid Group (LCID.O) said on Tuesday it now expects to produce 8,000–8,500 vehicles this year from its earlier projection of more than 10,000 units. The company said it was cutting production forecast "to prudently align with deliveries". The company reported third-quarter revenue of $137.8 million compared with analysts' estimates of $183.8 million, according to LSEG. Reporting by Zaheer Kachwala in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Zaheer Kachwala, Krishna Chandra Organizations: REUTERS, Thomson Locations: Costa Mesa , California, U.S, Bengaluru

☆ IAC narrowly beats Wall Street third-quarter revenue estimates
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Internet holding company IAC (IAC.O) beat Wall Street third-quarter revenue estimates on Tuesday, as the owner of publisher Dotdash Meredith saw traffic growth return for core brands. IAC owns Dotdash Meredith, America's largest digital and print publisher, as well as brands such as the Daily Beast and care services platform Care.com. Revenue fell 15% to $1.11 billion, narrowly beating analyst estimates, amid a challenging advertising market. Revenue at Dotdash Meredith, its biggest business, fell 11% to $417.5 million, with digital and print revenue declining 4% and 16%, respectively. Consolidated adjusted EBITDA grew 83% year-over-year, with adjusted core earnings growing at home services platform Angi and Dotdash Meredith.

Persons: Dotdash Meredith, We've, Joey Levin, GAI, Helen Coster, Manya, Krishna Chandra Organizations: IAC, Daily, Revenue, Consolidated, Dotdash Media, . Copyright, Manya Saini, Thomson Locations: Dotdash, New York, Bengaluru

☆ UAW members at General Dynamics plants ratify new tentative agreement
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 6 (Reuters) - The United Auto Workers (UAW) union on Monday said members at the General Dynamics (GD.N) plants at Ohio, Michigan and Pennsylvania have voted to ratify a new tentative agreement. Like its peers, General Dynamics has struggled with supply and labor shortages at a time when weapons demand is on the rise due to the war in Ukraine, conflict in the Middle East and tensions in U.S.-China relations over Taiwan. UAW members at the company make military vehicles including tanks and light armored vehicles, according to the union. In the latter half of October, the UAW, in separate strike actions, had reached tentative agreements with the Detroit Three automakers, General Motors (GM.N), Ford (F.N) and Stellantis (STLAM.MI). Reporting by Aishwarya Jain; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Aishwarya Jain, Krishna Chandra Organizations: United Auto Workers, UAW, General Dynamics, Dynamics, Detroit Three, General Motors, Ford, Thomson Locations: Ohio , Michigan, Pennsylvania, Ukraine, U.S, China, Taiwan

☆ FTC seeks information on $8.5 bln Tapestry-Capri deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Michael Kors is seen on an outlet store in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 6 (Reuters) - The U.S. Federal Trade Commission (FTC) has sent requests to Tapestry (TPR.N) and Michael Kors owner Capri Holdings (CPRI.N) for more information on their planned $8.5 billion deal, the companies said on Monday. The companies said on Monday they expect to respond "promptly" to the FTC's request and aim to close the deal as planned, in 2024. Capri's shares, which had jumped 55% on Aug. 10 after the deal was announced, were down 2.5% in extended trade. Reporting by Manas Mishra and Juveria Tabassum in Bengaluru; Editing by Shounak Dasgupta and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Kors, Michaela Rehle, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Capri's, Tapestry, Manas Mishra, Juveria, Shounak Dasgupta, Krishna Chandra Organizations: REUTERS, U.S . Federal Trade Commission, Capri Holdings, Capri, Thomson Locations: Metzingen, Germany, Paris, Bengaluru

☆ Chipmaker NXP forecasts profit above estimates on resilient auto, industrial
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Steve Marcus/File Photo Acquire Licensing RightsNov 6 (Reuters) - Chipmaker NXP Semiconductors (NXPI.O) forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. NXP in September said automotive demand was "pretty good" across all its markets, including China, which contributes about 30% to the chipmaker's total revenue. However, NXP CEO Kurt Sievers said the company's communication infrastructure business performed "slightly below expectations" in the third quarter. The company forecast adjusted current quarter revenue in the range of $3.30 billion and $3.50 billion, compared to analysts' estimate of $3.43 billion, per LSEG data. Revenue in the third quarter was $3.43 billion, compared with estimates of $3.40 billion.

Persons: Steve Marcus, Kurt Sievers, NXP, Chavi Mehta, Krishna Chandra Organizations: Semiconductors, Electronics, Las Vegas Convention, REUTERS, Wall, NXP, Apple, Revenue, Nasdaq, Thomson Locations: Las Vegas , Nevada, U.S, China, Eindhoven, Netherlands, Bengaluru

☆ Chaat Party Has Entered the Party Chat
▼ + stars: | 2023-11-05 | by ( Sam Sifton | More About Sam Sifton | ) www.nytimes.com time to read: +1 min

Good morning. This took a lot of gas, a lot of time and a toll on our bodies. So we laughed hard when the only good fishing we had came at the very end of the day, a few boat lengths from the marina, across from Four Sparrow Marsh near Mill Basin, Brooklyn. For dinner that night, and for you this evening: a chaat party, essentially a no-recipe recipe that Priya Krishna adapted from one in the 2020 cookbook “Chaat,” by Maneet Chauhan and Jody Eddy. It also served as a kind of rehearsal for the celebration of Diwali, the Hindu celebration of lights, on Nov. 12.

Persons: Sandy Hook, Priya Krishna, Maneet Chauhan, Jody Eddy, Naz Deravian’s, gulab jamun, Christina Morales’s Organizations: Midland, Cabanas, New York Times Locations: Lower, Midland Beach, Staten, New Jersey, Queens, Jamaica, Mill Basin , Brooklyn

☆ Rescuers Struggle to Find Nepal Quake Survivors, Deaths at 137
▼ + stars: | 2023-11-04 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

"The number of injured could be in the hundreds and the deaths could go up as well," Jajarkot district official Harish Chandra Sharma told Reuters by phone. Officials said 99 people were killed in Jajarkot and 38 in neighbouring Rukum West district, both in Karnali province. At least 85 people were injured in Rukum West and 55 in Jajarkot, an official in the prime minister's office said. Thousands of residents spent the entire night in cold, open grounds because they were too scared to go in into the cracked houses as aftershocks struck," Sharma said. Local TV channels showed rescuers digging through the rubble with their bare hands looking for survivors in the debris of collapsed houses.

Persons: Gopal Sharma, Harish Chandra Sharma, Sharma, Pushpa Kamal Dahal, Krishna Bhandari, Narendra Modi, Saurabh Sharma, YP Rajesh, William Mallard Organizations: Seismological, German Research Centre, Geosciences, U.S . Geological, Reuters, Authorities, Indian, YP Locations: Gopal Sharma KATHMANDU, Nepal, New Delhi, Kathmandu, Jajarkot, Rukum West, Karnali province, Ramidanda, Surkhet, Chaurjahari, Rukum, India, Uttar Pradesh, Uttarakhand, LUCKNOW

☆ Rescuers struggle to find Nepal quake survivors, deaths at 137
▼ + stars: | 2023-11-04 | by ( Gopal Sharma | ) www.reuters.com time to read: +4 min

[1/5] A damaged building is seen after an earthquake in Jajarkot, Nepal, November 4, 2023. Officials said 99 people were killed in Jajarkot and 38 in neighbouring Rukum West district, both in Karnali province. At least 85 people were injured in Rukum West and 55 in Jajarkot, an official in the prime minister's office said. Thousands of residents spent the entire night in cold, open grounds because they were too scared to go in into the cracked houses as aftershocks struck," Sharma said. Local TV channels showed rescuers digging through the rubble with their bare hands looking for survivors in the debris of collapsed houses.

Persons: Harish Chandra Sharma, Sharma, Pushpa Kamal Dahal, Krishna Bhandari, Narendra Modi, Gopal Sharma, Saurabh Sharma, YP Rajesh, William Mallard Organizations: REUTERS Acquire, Seismological, German Research Centre, Geosciences, U.S . Geological, Reuters, Authorities, Indian, YP, Thomson Locations: Jajarkot, Nepal, New Delhi, Kathmandu, Rukum West, Karnali province, Ramidanda, Surkhet, Chaurjahari, Rukum, India, Uttar Pradesh, Uttarakhand, LUCKNOW

☆ India's Pandya ruled out of World Cup, Krishna joins squad
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 4 (Reuters) - India vice-captain Hardik Pandya has been ruled out of the rest of the World Cup after the all-rounder sustained an ankle injury last month, the International Cricket Council (ICC) announced on Saturday as it approved Prasidh Krishna as his replacement. Pandya injured his left ankle while trying to stop a shot with his foot on his own bowling during India's seven-wicket win over Bangladesh in Pune on Oct. 19. Pandya picked up five wickets for the hosts in their opening three matches of the World Cup tournament and pace bowler Krishna has played 17 one-day internationals and two Twenty20 matches for India claiming 33 wickets overall. Krishna will face competition from Jasprit Bumrah, Mohammed Shami and Mohammed Siraj for a spot in India's pace line-up. Semi-finals-bound India have managed well in the absence of Pandya and lead the table with seven wins from as many matches.

Persons: Hardik Pandya, Prasidh Krishna, Pandya, Krishna, Jasprit Bumrah, Mohammed Shami, Mohammed Siraj, Shrivathsa Sridhar, Michael Perry Organizations: International Cricket Council, ICC, Bangladesh, England, India, Thomson Locations: BENGALURU, India, Pune, England , New Zealand, Sri Lanka, South Africa, Kolkata, Bengaluru

☆ PayPal raises full-year profit forecast above Wall Street estimates
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - PayPal Holdings (PYPL.O) raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, as the payments giant banks on resilient consumer spending trends during the key holiday shopping season. The company said it expects adjusted profit for the full-year to be about $4.98 per share from $4.95 earlier. PayPal cut its annual forecast of adjusted operating margin expansion to 75 basis points from 100 basis points expected earlier. Total payments volume increased 13% on FX-neutral basis to $387.7 billion in the third quarter, beating Street expectations of $377.9 billion. The firm earned $1.30 per share on an adjusted basis in the third-quarter, beating Wall Street expectations of $1.23 per share.

Persons: Dado Ruvic, Jamie Miller, Manya Saini, Krishna Chandra Organizations: PayPal, REUTERS, PayPal Holdings, Wall, Adobe Analytics, Apple, FX, U.S . Commerce Department, Thomson Locations: U.S, Bengaluru

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.

Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru

☆ Qorvo forecasts Q3 profit, revenue above estimates on smartphone market recovery
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Wireless connectivity chip maker Qorvo (QRVO.O) forecast third-quarter revenue and adjusted profit above Wall Street estimates on Tuesday, expecting a boost from its largest customer Apple (AAPL.O) ahead of an expected recovery in the smartphone market. The Greensboro, North Carolina-based company's biggest customer is Apple, which contributed 37% to the company's total revenue in fiscal 2023, ended April. Qorvo expects third-quarter adjusted profit of about $1.65 per share. The company sees third-quarter revenue of about $1 billion, plus or minus $25 million, compared with LSEG estimates of $992 million. Qorvo's revenue for the quarter ended Sept. 30 was $1.103 billion, while adjusted profit was $2.39 per share compared with analysts' estimate for revenue of $1 billion and adjusted profit of $1.77 per share.

Persons: Qorvo, Tanya Jain, Krishna Chandra Organizations: Wall, Apple, IDC, Thomson Locations: Greensboro, North Carolina, Bengaluru

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