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Nov 6 (Reuters) - Elon Musk tweeted on Sunday that any Twitter handles engaging in impersonation without clearly specifying "parody" will be permanently suspended. loadingMusk has said Twitter will create a content moderation council composed of representatives with "widely divergent views." Reporting by Mrinmay Dey in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
Meta declined to comment on the WSJ report. The disappointing outlook comes as Meta is contending with slowing global economic growth, competition from TikTok, privacy changes from Apple (AAPL.O), concerns about massive spending on the metaverse and the ever-present threat of regulation. Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. Several technology companies, including Microsoft Corp (MSFT.O), Twitter Inc and Snap Inc (SNAP.N) have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.
Nov 6 (Reuters) - Twitter is delaying the rollout of verification check marks to subscribers of its new $8 a month service until after Tuesday's midterm elections, the New York Times reported on Sunday. The U.S. midterm elections on Tuesday will decide whether Republicans or President Joe Biden's Democrats will control Congress. Changes to Twitter's verification process came a week after Elon Musk took over the social media company in a $44 billion deal. On Saturday, Twitter updated its app in Apple's App Store to begin charging $8 for blue check verification marks. Reuters reported on Thursday that Musk has directed Twitter's teams to find up to $1 billion in annual infrastructure cost savings.
Nov 6 (Reuters) - Meta Platforms Inc (META.O) is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday. Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit. In the meantime, he has had to freeze hiring, shutter projects and reorganize teams to trim costs. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. Several technology companies, including Microsoft Corp (MSFT.O), Twitter Inc and Snap Inc (SNAP.N) have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.
Oct 30 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) will resume using Russian airspace on some flights, the Hong Kong-based airline said on Sunday, restarting flights it had stopped after Moscow invaded Ukraine in February. Cathay Pacific will begin flying from New York to Hong Kong using the popular "Polar route" from Tuesday, the company told Reuters in an emailed statement. Citing strong headwinds and payload issues affecting its flights from the East Coast of North America to Hong Kong, Cathay Pacific said it will overfly the far eastern part of Russia. Cathay Pacific said in March that it was not routing flights through Russia's airspace, avoiding the area after the invasion of Ukraine despite longer flight times. Russia this year closed its airspace to European and U.S. airlines, forcing some long-haul flights to Asia to take longer routes.
Oct 30 (Reuters) - Goldman Sachs Group Inc's (GS.N) economists said the U.S. Federal Reserve could bump up interest rates to as high as 5% by March 2023, 25 basis points above its earlier predictions, Bloomberg News reported on Sunday. Goldman Sachs Chief Executive Officer David Solomon last week said the U.S. Federal Reserve could hike rates beyond 4.5-4.75% if it does not see "real changes in behaviour." Goldman's economists added that the journey to 5% hike includes increases of 75 basis points this week, 50 basis points in December and 25 basis points in February and March, the report added. Goldman Sachs did not immediately respond to a Reuters' request for comment. The central bank is expected to raise rates by 75 basis points for a fourth straight time at the conclusion of its next policy meeting on Nov. 1-2.
Adidas put the tie-up, which has produced several hot-selling Yeezy branded sneakers, under review this month. "Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said on Tuesday. Forbes magazine said the end of the deal meant Ye's net worth shrank to $400 million. The magazine had valued his share of the Adidas partnership at $1.5 billion. On Tuesday, Gap, which had ended its partnership with Ye in September, said it was taking immediate steps to remove Yeezy Gap products from its stores and that it had shut down YeezyGap.com.
Twitter shares to be suspended on NYSE as Musk nears takeover
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +1 min
Oct 27 (Reuters) - Twitter Inc (TWTR.N) shares will be suspended from trading on Friday, the New York Stock Exchange's website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal for the social media platform. Musk, the world's richest person, visited Twitter's headquarters in San Francisco on Wednesday and hinted he was the company's top boss after updating his profile bio to "Chief Twit". The company's stock closed at $53.35 on the NYSE on Wednesday. They were up about 1% at $53.90 in extended trading, slightly below Musk's offer price. Reporting by Mrinmay Dey in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Oct 25 (Reuters) - German sporting goods maker Adidas AG (ADSGn.DE) plans to end its partnership with American rapper Kanye West, following a rash of offensive behaviour from the performer and designer, Bloomberg News said on Tuesday, citing people familiar with the matter. Adidas may announce the move as early as Tuesday, the report added, saying the rapper, who now goes by the name Ye, has made controversial statements, including anti-Semitic social media posts, in recent weeks. Adidas on Oct. 6 said it was reviewing its business partnership with the rapper and fashion designer. West which has been partnering with Adidas since 2013 had been publicly critical of Adidas and its CEO, adding that the sporting goods maker were copying his ideas, CNBC had earlier reported. Ye recently has agreed to buy Parler, the social media platform popular among U.S. conservatives.
"Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said. Register now for FREE unlimited access to Reuters.com RegisterA lawyer representing Kanye West did not respond to a request for comment. Adidas put the partnership under review earlier in October "after repeated efforts to privately resolve the situation." Ye has courted controversy in recent months by publicly ending major corporate tie-ups and due to outbursts on social media against other celebrities. His Twitter and Instagram accounts were restricted, with the social media platforms removing some of his online posts that users condemned as antisemitic.
Mubadala, KKR to invest about $1 bln in Asia
  + stars: | 2022-10-24 | by ( ) www.reuters.com   time to read: +1 min
Oct 24 (Reuters) - KKR & Co (KKR.N) and Abu Dhabi state fund Mubadala Investment Co (MUDEV.UL) said they had entered into an agreement to invest about $1 billion in Asia. The agreement, announced on Sunday, will see the two firms investing across performing private credit opportunities in the Asia Pacific region. Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May. In APAC, KKR has deployed nearly $3 billion in credit capital since 2019. The credit business in the region is part of KKR’s about $178 billion global credit platform.
ASOS in talks with lenders to amend terms of $391 mln facility
  + stars: | 2022-10-15 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Oct 15 (Reuters) - British online fashion retailer ASOS (ASOS.L) is in talks with lenders to amend the terms of its 350 million pound ($391 million) borrowing facility, it said on Saturday. Sky News said the lenders were lining up AlixPartners and law firm Clifford Chance to advise them on an "unfolding situation". It warned last month that it expected profit before tax in the year to Aug. 31 to be around the bottom end of its guidance of 20 million pounds to 60 million pounds after weaker than projected August sales. ASOS also forecast full-year net debt of about 150 million pounds, which was higher than previous guidance. "This happened towards the end of August and there has been no adverse impact on trading relationships with our suppliers," ASOS said in response.
ASOS in talks to amend credit facility terms
  + stars: | 2022-10-15 | by ( ) www.reuters.com   time to read: +1 min
Oct 15 (Reuters) - British online fashion retailer ASOS (ASOS.L) on Saturday said it was seeking an amendment to the terms of its borrowing agreements. "ASOS is in the final stages of agreeing an amendment to the future financial covenants in its Revolving Credit Facility, which matures in July 2024," the company said in a statement. The online fashion retailer's lenders including Barclays, HSBC and Lloyds Banking Group were lining up AlixPartners and law firm Clifford Chance to advise them on the unfolding situation, Sky News reported earlier. ASOS said on Saturday it retained a strong liquidity position and called the loan amendments a "prudent step". ($1 = 0.8953 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
Oct 15 (Reuters) - Three senior KFC executives have notified the U.S. fried chicken chain's parent company Yum Brands Inc (YUM.N) that they will take early retirement as rising interest rates threaten to dent lump sum payouts for corporate pensions, the Wall Street Journal reported on Saturday. KFC and Yum Brands did not immediately respond to Reuters' requests for comment. Register now for FREE unlimited access to Reuters.com Register"Because of these interest rates, some associates across Yum! and its brands who qualify for pensions have decided to retire in 2022," the report quoted one of the KFC messages as saying. A fourth straight 75-basis-point interest rate hike is expected next month after data on Thursday showed inflation accelerating faster than expected in September.
Oct 15 (Reuters) - Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around 4.5 billion Swiss francs ($4.48 billion), the Financial Times reported on Saturday, citing people familiar with the matter. "We will update on progress on our comprehensive strategy review when we announce our third-quarter earnings," Credit Suisse told Reuters in an emailed statement. The bank is also looking to sell its famed Savoy Hotel, located on Paradeplatz in the centre of Zurich's financial district. The hotel could be worth 400 million Swiss francs, as reported by finance blog Inside Paradeplatz early this month. The bank is due to present its new business strategy on Oct. 27, when it announces third-quarter results.
Oct 15 (Reuters) - Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around 4.5 billion Swiss francs ($4.48 billion), the Financial Times reported on Saturday, citing people familiar with the matter. "We will update on progress on our comprehensive strategy review when we announce our third-quarter earnings," Credit Suisse told Reuters in an emailed statement. The bank is also looking to sell its famed Savoy Hotel, located on Paradeplatz in the centre of Zurich's financial district. The hotel could be worth 400 million Swiss francs, as reported by finance blog Inside Paradeplatz early this month. The bank is due to present its new business strategy on Oct. 27, when it announces third-quarter results.
Jada Pinkett Smith has revealed she will be writing a memoir that shares details about her difficult journey in Hollywood and her “complicated marriage” to Will Smith. After starring in the hit sitcom “A Different World” and appearing in multiple films, Pinkett Smith met Smith. The press release also mentioned a “crisis” Pinkett Smith experienced at the age of 40 that caused her to reevaluate her life. Both Will and Jada Pinkett Smith have spoken candidly in the past about their struggles as parents and spouses. Last month, Pinkett Smith shared an Instagram video of her husband, family and friends singing happy birthday to her.
Register now for FREE unlimited access to Reuters.com RegisterSmartphone with displayed Instacart logo is seen in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoSept 24 (Reuters) - Grocery delivery app Instacart Inc has been letting go staff, slowing hiring and curbing other expenses as it heads toward a public listing, the Information reported on Saturday, citing people familiar with the matter. Register now for FREE unlimited access to Reuters.com RegisterThe report added that Instacart has fired at least three senior-level employees in recent weeks but it does not include any departures from the company's top management positions. Instacart also paused hiring for various positions and managers received instructions to cap spending in areas such as travel and team gatherings, the report said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
Pfizer CEO tests positive for COVID for a second time
  + stars: | 2022-09-24 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterAlbert Bourla, CEO of Pfizer attends a discussion at the World Economic Forum (WEF) in Davos, Switzerland May 25, 2022. REUTERS/Arnd WiegmannSept 24 (Reuters) - Pfizer Inc (PFE.N) Chief Executive Officer Albert Bourla said on Saturday he had tested positive for COVID-19. Bourla has received four doses of the COVID vaccine developed by Pfizer and its German partner BioNTech (22UAy.DE). A federal health agency said this week that over 25 million doses of the so-called bivalent shots had been sent out. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
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Total: 20