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☆ Nvidia files mixed shelf offering of up to $10 bln
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

Feb 28 (Reuters) - U.S. chipmaker Nvidia Corp (NVDA.O) filed a mixed shelf offering of as much as $10 billion with the U.S. Securities and Exchange Commission on Tuesday. The mixed shelf will include shares of its common stock, preferred stock, warrants, debt securities and purchase contracts, the company said. Reporting by Eva Mathews in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Vice Media names co-CEOs to replace veteran exec. Nancy Dubuc- NYT
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: 1 min

Feb 27 (Reuters) - Digital media firm Vice Media named co-chief executive officers to replace veteran television executive Nancy Dubuc who announced her departure last week, the New York Times reported on Monday. Chief Financial Officer Bruce Dixon and Chief Strategy Officer Hozefa Lokhandwala will helm the top role together, according to the Times. The company did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Meta builds A-team focused on AI products
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] A smartphone with a displayed Meta logo is placed on a computer motherboard in this illustration taken February 23, 2023. REUTERS/Dado Ruvic/IllustrationFeb 27 (Reuters) - Meta Platforms Inc (META.O) is creating a new top-level product group focused on generative artificial intelligence (AI), Chief Executive Mark Zuckerberg said on Monday, as the AI race among Big Tech firms heats up. "We're starting by pulling together a lot of the teams working on generative AI across the company into one group focused on building delightful experiences around this technology," Zuckerberg said in an Instagram post. Shares of Meta Platforms closed down 0.5% on Monday. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Meta's LLaMA, short for Large Language Model Meta AI, will be available under non-commercial license to researchers and entities affiliated with government, civil society, and academia, it said in a blog. Large language models mine vast amounts of text in order to summarize information and generate content. "Generative AI is a new application of AI that Meta has less experience with, but is clearly important for the future of their business." It described its 65-billion-parameter LLaMA model as "competitive" with Google's Chinchilla70B and PaLM-540B, which are even larger than the model that Google used to show off its Bard chat-powered search. Meta in May last year released large language model OPT-175B, also aimed at researchers, which formed the basis of a new iteration of its chatbot BlenderBot.

☆ EA founder Trip Hawkins dives into Web3 with Barcelona-based startup
▼ + stars: | 2023-02-24 | by ( Eva Mathews | ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - Former Apple executive Trip Hawkins, who founded the company behind the best-selling sports videogame franchise "FIFA", is joining a Web3 startup, looking to take on top blockchain games like Axie Infinity. The founder of Electronic Arts (EA.O) will join as co-founder and security chief of Games for a Living (GFAL), Hawkins told Reuters in an interview. Interest for Web3 gaming has risen over the past year as it is touted to attract more cryptocurrency users. Hong Kong-based blockchain gaming developer Animoca Brands, which backs popular NFT game Axie Infinity, raised more than $500 million in 2022. "Web3 is the bridge to the metaverse," Hawkins said on Thursday.

☆ Alibaba beats quarterly revenue estimates as COVID curbs ease
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Alibaba Group Holding Ltd (9988.HK) reported better-than-expected quarterly revenue on Thursday, as the Chinese e-commerce giant benefited from the country easing COVID-19 curbs. The company has weathered a weak economy in China, which only last December lifted its zero-Covid policy after three years. Revenue rose 2% to 247.76 billion yuan ($35.92 billion) for the three months ended Dec. 31, compared with a Refinitiv consensus estimate of 245.18 billion yuan drawn from 23 analysts. Net income attributable to ordinary shareholders was 46.82 billion yuan, up from 27.69 billion yuan in the same quarter one year ago. ($1 = 6.8985 Chinese yuan renminbi)Reporting by Eva Mathews in Bengaluru and Josh Horwitz in Shanghai; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Humana Exits Employer Insurance Business
▼ + stars: | 2023-02-23 | by ( Will Feuer | Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Humana’s departure from its Employer Group Commercial Medical Products business will happen over the next 18 to 24 months. Humana Inc. said it would exit its Employer Group Commercial Medical Products business, including all fully insured, self-funded and federal employee health benefit medical plans. The health-insurance company said the move comes after a strategic review that determined the business was no longer positioned to sustainably meet the needs of customers or to support Humana’s long-term strategic plans.

☆ Netflix cuts prices in some countries to boost subscriptions
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Netflix Inc (NFLX.O) said on Thursday it had reduced the prices of its subscription plans in some countries, as the streaming giant looks to retain subscriber growth amid stiff competition from rivals. According to the Wall Street Journal, which reported the Netflix news first earlier in the day, the price cuts span across some Middle Eastern countries, sub-Saharan African markets and parts of Latin America and Asia. The cuts apply to certain tiers of Netflix in those markets and in some cases halving the cost of a subscription, the Journal reported. Netflix, which operates in over 190 countries, has been looking to grow share in newer international regions as the U.S. and Canada markets saturate. We can confirm that we are updating the pricing of our plans in certain countries," a spokesperson for the company said.

☆ Factbox: Company reaction to the U.S. Inflation Reduction Act
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Fabian Bimmer/File PhotoFeb 22 (Reuters) - Companies across North America and Europe have in recent months cheered the Biden Administration's $430 billion U.S. Inflation Reduction Act (IRA) that includes major provisions to cut carbon emission, boost domestic production and manufacturing. Holcim AG (HOLN.S)The world's biggest cement maker expects the IRA to provide a strong momentum for its business in North America. This month, it agreed to buy U.S. roofing systems manufacturer Duro-Last in a $1.29 billion deal, its latest move to bolster presence in North America. Linde (LIN.N),The gas giant has estimated the total investment opportunity for the company in the United States alone could exceed $30 billion over the next decade. BMW (BMWG.DE)The company plans to produce at least six fully electric models in its plant in South Carolina by 2030.

☆ Comcast takes advantage of AI rally to sell more BuzzFeed shares
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

It has so far sold more than 11 million BuzzFeed shares (BZFD.O) since Jan. 30, reducing its stake to 15.% from 24%. The sale fetched Comcast about $28 million, according to a Reuters calculation. It sold roughly four million shares for an average price of around $2.90 apiece at the end of January, and most recently dumped another 500,000 shares for an average of $2.05 a share, filings by Comcast (CMCSA.O) showed. NBCUniversal, Comcast's entertainment unit, had invested $200 million in BuzzFeed in 2015 and injected another $200 million in 2016, valuing the company at around $1.7 billion. Retail investor interest in AI-related shares have been rising since last month after OpenAI drew a multi-billion dollar investment from Microsoft Corp (MSFT.O).

☆ Meta preparing for fresh round of job cuts - Washington Post
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Facebook-parent Meta Platforms Inc (META.O) is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday. Last year, the social media giant said it will let go of 13% of its workforce, or more than 11,000 employees, as it grappled with soaring costs and a weak advertising market. Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between top boss Mark Zuckerberg and the company's interns, the Washington Post reported, citing a person familiar with the matter. Meta, once worth more than $1 trillion, is now valued at $446 billion. More than 100,000 layoffs were announced at U.S. companies in January, led by technology companies, according to a report from employment firm Challenger, Gray & Christmas Inc.

☆ Paramount takes a knock from ad slump as streaming shines
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

Shares in the media company fell about 8% before the bell. TV advertising revenue fell 7% in the three months to December, despite a lift from political advertising on the back of U.S. mid-term elections in November. The company last month said it would integrate Showtime, known for popular shows, including "Billions," "Yellowjackets" and "Dexter", with Paramount+ across platforms later this year as it prioritizes streaming services. Operating losses in the company's direct-to-consumer unit, which houses its streaming services like Paramount+ and PlutoTV, rose to $575 million from $502 million. Investors have focused on the service as the company has outlined plans to spend aggressively on content to fend off competition.

☆ Instagram rolls out broadcast chat feature 'Channels'
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: 1 min

Feb 16 (Reuters) - Instagram, the social media platform owned by Meta Platforms Inc (META.O), is rolling out a broadcast chat feature called Channels, the company's boss Mark Zuckerberg said on Thursday. "I'm starting a channel to share news and updates on all the products and tech we're building at Meta," Zuckerberg said in a Facebook post. "It will be the place I share Meta product news first." The company will also introduce the feature to Messenger and Facebook in the coming months. Reporting by Eva Mathews in Bengaluru; Editing by Shailesh Kuber and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Roblox dazzles Wall St with bookings beat on holiday boost
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermidFeb 15 (Reuters) - Roblox Corp (RBLX.N) on Wednesday reported better-than-expected bookings for the fourth quarter as users spent more money on the online gaming platform during the holiday season, sending its shares up about 16% in premarket trading. Average daily active users (DAUs) were 58.8 million at the end of December, up 19% year-over-year, but flat compared with the third quarter. For January, estimated bookings came in at $267 million to $271 million, up between 19% and 21% year-on-year. Roblox booked a loss of 48 cents per share in the fourth quarter, smaller than the 52 cents loss that Wall Street expected. Shares were trading at $41.37 before the bell on Wednesday, adding to the 25% climb marked so far this year.

☆ What it feels like when your mental health condition becomes a punchline: 'It actually drives people further into hiding'
▼ + stars: | 2023-02-10 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

But if you don't actually have obsessive-compulsive disorder (OCD) or bipolar disorder (BPD), those jokes can be offensive to people who are actually living with the illnesses. Gabe Howard Podcast Host of "Inside Mental Health" and Author of "Mental Illness is an Ass----"And with the growing interest in mental health, self-diagnosing, and diagnosing others, without a medical background has become more socially acceptable, Mathews adds. Other people's opinions of bipolar disorder, often communicated through jokes, began to shape Howard's views on his own condition. Gabe Howard Podcast Host of "Inside Mental Health" and Author of "Mental Illness is an Ass----"Thankfully, he no longer feels this way. 3 tips for shifting your language around mental health conditions

☆ Activist investor ValueAct takes stake in Spotify
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

Feb 10 (Reuters) - ValueAct Capital Management has taken a stake in Spotify Technology SA (SPOT.N), at a time when the audio streaming company is looking to cut costs. "We welcome ValueAct as an investor in Spotify," a spokesperson for the Swedish company said on Friday, without disclosing further details on the investment. ValueAct Chief Executive Mason Morfit disclosed the investment during a presentation at a Columbia University event in New York on Friday, according to Bloomberg News, which first reported the stake. ValueAct, which declined to comment, distinguishes itself from other activist investors by preferring to stay behind the scenes and rarely presents its investment ideas publicly. However, a challenging economic environment set the stage for belt tightening, with Spotify Chief Executive Daniel Ek announcing layoffs and an organizational restructuring in January.

☆ CVS Reaches $10.6 Billion Deal to Buy Clinic Owner Oak Street Health
▼ + stars: | 2023-02-08 | by ( Anna Wilde Mathews | Sharon Terlep | ) www.wsj.com time to read: 1 min

CVS Health Corp. agreed to acquire Oak Street Health Inc. for about $10.6 billion including debt, in the latest sign of the growing tie-ups between health insurers and primary-care doctors. The all-cash deal, for $39 a share, is expected to close in 2023, the companies said Wednesday. The Wall Street Journal reported Monday the companies were nearing a deal.

☆ The Paradox of Prosecuting Domestic Terrorism
▼ + stars: | 2023-02-08 | by ( James Verini | ) www.nytimes.com time to read: +52 min

The preventive approach to domestic terrorism goes back even further than the 1990s and it begins with the basic police work and surveillance of the joint terrorism task forces. In fact, there is no section of the U.S. Criminal Code that criminalizes domestic terrorism as such. The absence of clear law around domestic terrorism, and the imperatives of prevention, mean that investigators and prosecutors who work domestic terrorism cases must focus on more common charges: weapons violations, illegal drug possession, burglary, aiding and abetting and so forth. But this was not enough to overrule the fear of domestic terrorism that was gripping the nation and that hung in the courtroom. It reflected the legal paradoxes of the case and domestic terrorism law in general or, maybe more accurately, the absence of it.

☆ Factbox: Tech firms, Wall Street titans lead job cuts in corporate America
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +8 min

REUTERS/Lucy Nicholson/File PhotoFeb 8 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn. Here are some of the job cuts by major American companies announced in recent weeks. TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp (IBM.N):The software and consulting firm said it will lay off 3,900 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

CVS, the parent of its namesake pharmacies, is seeking to move deeper into the direct provision of healthcare. CVS Health Corp. is close to an agreement to acquire Oak Street Health Inc. for about $10.5 billion including debt, a deal that would rapidly expand the big healthcare company’s footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter. The companies are discussing a price of about $39 a share, the people said. The deal, if it goes through, could be announced as soon as this week, they said. CVS is scheduled to report earnings on Wednesday.

☆ Dell to slash about 6,650 jobs as it battles slowing demand
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Dell Technologies Inc (DELL.N) will eliminate about 6,650 jobs, or 5% of its global workforce, the company said on Monday, as the PC maker grapples with falling demand and braces for economic uncertainty. "What we know is market conditions continue to erode with an uncertain future," co-Chief Operating Officer Jeff Clarke wrote in a memo to employees. 3D printed clouds and figurines are seen in front of the Dell logo in this illustration taken February 8, 2022. Dell had about 133,000 employees as of Jan. 28, 2022, of which, about one-third were based in the United States. Reporting by Shivani Tanna and Eva Mathews in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Chip equipment maker MKS Instruments says it is investigating ransomware attack
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - MKS Instruments Inc (MKSI.O) said on Monday it was investigating a ransomware attack that occurred last week and affected the semiconductor equipment maker's production-related systems. The company said it was in the early stages of investigating the attack that it identified on Feb. 3, adding that costs related to the incident have not been determined. Ransomware is a form of malicious software deployed by criminals which works by encrypting data, with hackers offering the victim a key in return for payments. MKS said it would temporarily suspend operations at some of its facilities, as part of its containment efforts. Italy's National Cybersecurity Agency warned on Sunday that thousands of computer servers had been targeted by a global ransomware hacking attack targeting VMware (VMW.N) ESXi servers.

☆ Tech trillion club's wobble in four charts
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

The tech industry has already laid off thousands of employees in an effort to cut costs as it braces for an impending slowdown. Reuters GraphicsDIGITAL ADVERTISING SLUMPThe parent company of digital advertising giant Google also missed earnings expectations as businesses dialed back spending on fears of a possible recession. "If a dominant ad player like Google can get hit like this, it is now officially a tough ad market," said Rosenblatt Securities analyst Barton Crockett. Reuters GraphicsPOST-EARNINGS STOCK REACTIONShares of the three companies - all of which have market valuations of more than a trillion dollars - were trading between -4.9% and 1.5%. Here is how the stocks have reacted after every quarterly earnings report in 2022:Reuters GraphicsReporting by Akash Sriram, Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ Elevance Health Revenue Lifted by Higher Premiums
▼ + stars: | 2023-02-02 | by ( Dean Seal | Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Elevance Health Inc. reported higher revenue but a smaller profit for the fourth quarter as premiums rose in tandem with medical costs. The health insurer and healthcare-services provider, formerly known as Anthem Inc., said Wednesday that total revenue increased 9.2% to $39.93 billion, topping analyst expectations of $39.77 billion, according to FactSet.

☆ T-Mobile misses quarterly revenue estimates as competition bites
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - T-Mobile US Inc (TMUS.O) missed fourth-quarter revenue estimates on Wednesday despite adding thousands of wireless subscribers, as competitors ramped up their holiday season handset offers to lure customers. However, Verizon (T.N) and AT&T (T.N) ramped up their handset offers during the holiday season to tap into growing demand after the latest iPhone launch, hitting T-Mobile's torrid growth. By contrast, Verizon reported churn of 0.89% for monthly phone subscribers while AT&T's came in at 0.84%. It expects to add between 5 million and 5.5 million net monthly-bill paying subscribers in 2023, compared with the 6.4 million additions it reported in 2022. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

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