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☆ Nasdaq refiles BlackRock's bitcoin ETF application with SEC
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Nasdaq (NDAQ.O) refiled an application with the U.S. securities regulator to list an exchange-traded fund by BlackRock Inc (BLK.N) that will reflect the price of bitcoin to add additional details, according to a filing made public on Monday. The move comes after the regulator reportedly had concerns over the initial filings by Nasdaq as being unclear and incomplete. According to Cboe's Fidelity bitcoin ETF filing, the company's platform represented roughly half of U.S. dollar-bitcoin trading in May. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, including one from Fidelity in January 2022. Reporting by Jaiveer Singh Shekhawat in Bengaluru and John Mcrank in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Coinbase, Jaiveer Singh, John Mcrank, Shailesh Organizations: Nasdaq, BlackRock Inc, U.S . Securities, Exchange Commission, SEC, Global Inc, Fidelity, ., Thomson Locations: Manhattan, Bengaluru, New York

☆ Chipmaker TSMC says supplier targeted in cyberattack
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Taiwan Semiconductor Manufacturing Co (2330.TW) said on Friday that a cybersecurity incident involving one of its IT hardware suppliers has led to the leak of the vendor's company data. "TSMC has recently been aware that one of our IT hardware suppliers experienced a cybersecurity incident which led to the leak of information pertinent to server initial setup and configuration," the company said. TMSC confirmed in a statement to Reuters that its business operations or customer information were not affected following the cybersecurity incident at its supplier Kinmax. The TSMC vendor breach is part of a larger trend of significant security incidents affecting various companies and government entities. TSMC said it has cut off data exchange with the affected supplier following the incident.

Persons: TSMC, TMSC, Akriti Sharma, James Pearson, Shailesh Organizations: Taiwan Semiconductor Manufacturing, Thomson Locations: U.S

☆ China's Meituan to buy artificial intelligence firm Light Year from co-founder
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Chinese food delivery giant Meituan (3690.HK) said on Thursday that it is acquiring artificial intelligence (AI) company Light Year from its co-founder and former director Wang Huiwen, in a bid to develop its own generative AI. The deal comes at a time when AI has captivated investor interest across the globe, prompting a flurry of investments or acquisitions by businesses in a rush to develop generative AI like ChatGPT. The deal allows Meituan, in which online advertising giant Tencent (0700.HK) holds an 18.7% stake, to strengthen its position in the AI landscape of China. Meituan will control 100% of Light Year after completion of the deal. Reporting by Navya Mittal and John Biju in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Huiwen, HongShan, Meituan, Wang, Navya Mittal, John Biju, Shailesh Organizations: HK, Sequoia Capital China Growth, Thomson Locations: China, Bengaluru

☆ BioXcel cites issues at Alzheimer's drug trial site, shares plunge
▼ + stars: | 2023-06-29 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

June 29 (Reuters) - BioXcel Therapeutics (BTAI.O) flagged issues related to the recording of safety data at one of the sites for late-stage trial of its Alzheimer's drug, sending its shares plunging more than 67% in premarket trading on Thursday. The drug, named BXCL501, was being studied to treat patients with agitation related to Alzheimer's disease. The issue highlighted by the company overshadowed results of the drug's trial, which was also reported on Thursday. BioXcel said it plans to submit an application to expand the use of the drug in the second half of this year. The drug is already approved by the FDA for treating agitation associated with schizophrenia or bipolar I or II disorder in adults.

Persons: Vimal Mehta, Robyn Karnauskas, BioXcel, Khushi Mandowara, Krishna Chandra Eluri Organizations: BioXcel Therapeutics, U.S . Food, Drug Administration, Truist Securities, Thomson Locations: Bengaluru

☆ Honda recalling 1.3 million vehicles worldwide for rear camera issue
▼ + stars: | 2023-06-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Companies Honda Motor Co Ltd FollowWASHINGTON June 23 (Reuters) - Honda Motor (7267.T) is recalling 1.3 million vehicles worldwide due to a potential issue with the rearview camera image, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear on the display. The recall includes 1.2 million U.S. vehicles, 88,000 in Canada and 16,000 in Mexico, Honda said. Honda previously extended the warranty to vehicles affected by the issue in 2021. Dealers will install an improved cable harness between the existing display audio and vehicle terminal connections and a straightening cover over the vehicle cable connector to properly connect the audio display unit.

Persons: Honda, Baranjot Kaur, David Shepardson, Shailesh Kuber, Kirsten Donovan, Sandra Maler Organizations: Honda Motor, WASHINGTON, Honda, U.S . National, Traffic Safety Administration, Thomson Locations: Canada, Mexico, Bengaluru, Washington

☆ CarMax beats profit estimates powered by cost-cuts; shares jump
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

Shares of the pre-owned car retailer were up about 8% before the bell. Auto retailer AutoNation (AN.N), in April, missed Wall Street estimates for first-quarter revenue as higher new vehicle and after-sales demand was offset by weakness in used vehicle and customer financial service businesses. On Friday, CarMax reported an adjusted profit of $1.16 per share, compared with average analysts' expectation of 79 cents per share, as per Refinitiv data. Net revenue came in at $7.69 billion, compared with analysts' estimates of $7.53 billion. Reporting by Kannaki Deka and Nathan Gomes in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Bill Nash, CarMax, Kannaki Deka, Nathan Gomes, Shailesh Organizations: CarMax, Auto, Thomson Locations: Bengaluru

☆ Honda recalling 1.2 million US vehicles for rear camera issue
▼ + stars: | 2023-06-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Companies Honda Motor Co Ltd FollowWASHINGTON June 23 (Reuters) - Honda Motor (7267.T) is recalling 1.2 million vehicles in the United States due to a potential issue with the rearview camera image, the National Highway Traffic Safety Administration (NHTSA) said on Friday. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear on the display. Honda previously extended the warranty to vehicles affected by the issue in 2021. The automaker said in a filing with NHTSA it has received 273,870 warranty claims related to the issue between May 2017 and June this year, and no reports of injuries or deaths related to the recall issue. Dealers will install an improved cable harness between the existing display audio and vehicle terminal connections and a straightening cover over the vehicle cable connector to properly connect the audio display unit.

Persons: Baranjot Kaur, David Shepardson, Shailesh Kuber, Kirsten Donovan Organizations: Honda Motor, WASHINGTON, Honda, Traffic Safety Administration, Thomson Locations: United States, Bengaluru, Washington

☆ Honda recalling 1.2 mln US vehicles for rear camera issue
▼ + stars: | 2023-06-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

☆ Applied Materials to invest $400 million in India for new engineering center
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - U.S. semiconductor toolmaker Applied Materials (AMAT.O) will invest $400 million over four years in a new engineering center in India, the company said on Thursday. Indian Prime Minister Narendra Modi had met with the company's CEO Gary Dickerson in Washington on Wednesday and invited Applied to strengthen the chip industry in the country. Modi also met Tesla (TSLA.O) CEO Elon Musk after which the automaker's top boss said the company will try to be in India "as soon as humanly possible." Applied currently operates across six sites in India and works closely with Indian Institute of Science, Bangalore and the Indian Institute of Technology in Mumbai, two of the country's prestigious institutions. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Narendra Modi, Gary Dickerson, Electric's, Modi, Tesla, Elon Musk, Akash Sriram, Anil D'Silva, Sriraj Organizations: Indian, Hindustan Aeronautics Ltd, Indian Institute of Science, Indian Institute of Technology, Thomson Locations: India, Washington, Bengaluru, Bangalore, Mumbai

☆ Bankrupt Vice Media plans sale to Fortress Investment-led group
▼ + stars: | 2023-06-22 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

June 22 (Reuters) - A group of buyers including Fortress Investment Group may take over Vice Media after the consortium's $225-million offer for the bankrupt company emerged as the only "qualified" bid on the table, according to a legal filing. Popular with millennial audience through its websites Vice and Motherboard, Vice Media filed for bankruptcy protection last month in a move that capped years of financial difficulties and top-executive departures. GoDigital Media told Reuters in an emailed statement that it made a higher bid for Vice but the offer was turned down by the sellers. "We think Fortress's decision is the wrong choice, and the company, employees, partners and consumers will suffer," GoDigital said. Fortress and Vice did not immediately respond to Reuters' requests for comment on the potential deal, which must be approved by the bankruptcy judge.

Persons: GoDigital, Privately, James Murdoch's, Yuvraj Malik, Jonathan Stempel, Dietrich Knauth, Shailesh Kuber, Krishna Chandra Organizations: Fortress Investment, Media, U.S, Fortress, GoDigital Media, Reuters, Systems, TPG, Technology, Ventures, Antenna Group, Big Tech, Facebook, Google, Thomson Locations: Manhattan, Bengaluru, New York

☆ India's TCS signs $1.1 bln contract with UK's Nest
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 21 (Reuters) - India's top IT services provider Tata Consultancy Services (TCS.NS) said on Wednesday that it has signed a new contract worth 840 million pounds ($1.1 billion) with British pension scheme Nest for an initial tenure of 10 years. The contract, to help Nest transform its administration services, if extended to the entirety of its 18-year tenure would be worth 1.5 billion pounds, TCS said in a statement. The deal comes at a time when Indian IT services companies are facing demand challenges in their key markets, the United States and Europe, where clients have cut spends amid worries about recession. TCS and Nest have been working together since 2011. Last week, TCS mutually terminated a $2 billion contract with insurance provider Transamerica, citing reasons that include a challenging macro environment.

Persons: Shailesh Organizations: Tata Consultancy Services, TCS, Indian, Investors, Sethuraman NR, Thomson Locations: BENGALURU, United States, Europe, Bengaluru

☆ Carlyle names insider John Redett as finance chief
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Carlyle Group Inc (CG.O) named company veteran John Redett as its new chief financial officer, the investment firm said on Tuesday, in the first major appointment under Chief Executive Officer Harvey Schwartz's leadership. Redett, who will take over from Curt Buser on Oct. 1, joined Carlyle 16 years ago and currently leads the firm's global financial services. Redett, who previously worked for U.S. banking giants Goldman Sachs (GS.N) and JPMorgan (JPM.N), will also become the head of corporate strategy at Carlyle. Carlyle hired Schwartz, a former Goldman Sachs (GS.N) executive, as its chief executive officer earlier this year, after a six-month long search. Carlyle also said it has also appointed Jim Burr as the head of global financial services.

Persons: John Redett, Harvey Schwartz's, Redett, Curt Buser, Goldman Sachs, Carlyle, Buser, Schwartz, Jim Burr, Jaiveer Singh, Nivedita Bhattacharjee Organizations: Carlyle Group Inc, Carlyle, Goldman, JPMorgan, Thomson Locations: Bengaluru

☆ Spotify plans a more expensive subscription tier - Bloomberg News
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Music streaming platform Spotify Technology (SPOT.N) is planning a more expensive subscription option that is expected to include high-fidelity audio, Bloomberg News reported on Tuesday. The new tier, called "Supremium" internally, will be the company's most expensive plan as it aims to drive more revenue and placate investors who have been urging the Swedish company to raise prices, the report said. The company announced the HiFi feature, which upgrades sound quality of the songs to "lossless" CD-quality music, in 2021. To augment its current premium tier, Spotify will give subscribers expanded access to audiobooks, either through a specific number of hours free per month or a specific number of titles, the report said. The new tier will launch this year in non-US markets first, the report added.

Persons: Chavi Mehta, Shailesh Organizations: Spotify, Bloomberg, Thomson Locations: Swedish, United States, Bengaluru

☆ China's Nio to get near $740 million investment from Abu Dhabi-backed firm
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

Nio and peers Xpeng and Li Auto are among those competing to grab a larger EV market share in the world's largest automotive market dominated by BYD (002594.SZ). Under the deal, Nio will issue about 85 million new Class A shares at $8.72 per share to CYVN Holdings. CYVN has also entered into a deal with an affiliate of Tencent Holdings (0700.HK), under which it will pick up some shares of Nio. Nio said it will pursue global business opportunities jointly with CYVN following the closing of the investment deal. Its cash and cash equivalents fell to 14.76 billion yuan ($2.15 billion) in the first three months of the year from 19.89 billion yuan at end of the fourth quarter of 2022.

Persons: Xpeng, Li, Nio, CYVN, Akash Sriram, Tanya Jain, Shailesh Organizations: CYVN Holdings, Nio Inc, Li Auto, Nio's, Tencent Holdings, HK, CYVN, Thomson Locations: Abu Dhabi, BYD, Nio's U.S, Nio, Bengaluru

☆ South African rand little changed as power cuts ease
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, June 19 (Reuters) - South Africa's rand was little changed on Monday as a reduction in the intensity of rolling power cuts boosted the currency. At 1514 GMT, the rand traded at 18.1950 against the dollar , near its previous close of 18.1900. The dollar index , which measures the U.S. currency against six major rivals, was up 0.16% to 102.46. South Africa's benchmark 2030 government bond was weaker, with the yield up 4 basis points to 10.780%. Reporting by Anait Miridzhanian and Bhargav Acharya; Editing by Shailesh Kuber and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Warren Venketas, Anait Miridzhanian, Shailesh Kuber, Barbara Lewis Organizations: Reuters, Thomson Locations: JOHANNESBURG

June 16 (Reuters) - Customers Bancorp (CUBI.N) said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar with the matter told Reuters. Customers Bancorp shares rose on the news to their highest level since early March, and were up 3.3% at $30.23 at midday. On March 12, state regulators closed New York-based Signature Bank, marking this year's second high-profile bank collapse sparked by an exodus of depositors seeking higher returns and safer institutions. Following the bank's closure, the FDIC had announced in April the marketing process for the roughly $60-billion loan portfolio retained in receivership from Signature Bank.

Persons: Michael Perito, Keefe, Perito, Manya Saini, Saeed Azhar, Shailesh Kuber, Richard Chang Organizations: Customers Bancorp, Deposit Insurance Corporation, Signature Bank, Reuters, FDIC, Bancorp, Loans, Bank, New York Community Bancorp, Thomson Locations: Austin, Boston, Southern California, Chicago, New York, Bengaluru

☆ Micron warns of bigger revenue hit from China ban
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The company said it now expects an impact on about half of its revenue from China-headquartered firms, which equates to a low-double-digit percentage of its total revenue. It had neither provided details on what risks it had found nor what Micron products would be affected. It also added that several customers, including mobile manufacturers, were being contacted by Chinese government representatives about the future use of Micron products. Micron's revenue from companies headquartered in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, accounts for about a quarter of its total revenue. ($1 = 7.1218 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanjay Mehrotra, Chavi Mehta, Shailesh Organizations: Micron Technology, Micron, Cybersecurity Administration, Thomson Locations: China, U.S, Beijing, Washington, Hong Kong, Xian, Bengaluru

SummarySummary Companies Travis Perkins falls, warns of downbeat profitUK inflation data, BoE rate decision due next weekFTSE 100 up 0.2%, FTSE 250 flatJune 16 (Reuters) - UK's FTSE 100 climbed on Friday, with defensive stocks such as utilities and healthcare leading the charge, while top building materials supplier Travis Perkins slumped after a profit warning. The internationally-focused FTSE 100 (.FTSE) gained 0.2%, posting a weekly gain of 1%, snapping a three-week losing streak underpinned by strength in mining stocks. Investors now look ahead to domestic inflation data and a probable 25-basis-point rate hike from the Bank of England next week. "It looks like, at least at this point, that this is the central bank that's going to remain the most restrictive for the longest period of time." A BoE survey showed the British public's expectations for inflation in the coming 12 months cooled in May.

Persons: Travis Perkins, BoE, Julien Lafargue, Ankika Biswas, Shashwat Chauhan, Khushi Singh, Sherry Jacob, Phillips, Shailesh Organizations: U.S . Federal Reserve, European Central Bank, Bank of, ECB, Barclays Private Bank, FTSE, Britain's, Thomson Locations: Bank of England, Bengaluru

☆ United Air CEO sees pilot deal adding over $8 bln in costs - Bloomberg News
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

The move comes at a time when pilots in North America are pushing for better pay and working conditions during their talks with company managements over new employment contracts. Delta Air Lines' (DAL.N) landmark pilots contract, which offers $7 billion in higher pay and benefits in March has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. United's CEO Scott Kirby told Bloomberg News that the company has been negotiating weekly to reach a formal agreement with the union. United did not immediately respond to a Reuters request for comment. Reporting by Priyamvada C in Bengaluru; Editing by Shilpi Majumdar and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Scott Kirby, Priyamvada, Shilpi Majumdar, Shailesh Organizations: United Airlines Holdings Inc, Bloomberg, Delta Air Lines, Bloomberg News, Thomson Locations: U.S, North America, Bengaluru

☆ United Air expects new pilot offer to add over $8 bln in costs
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

Delta Air Lines' (DAL.N) landmark pilots contract in March, which offers $7 billion in higher pay and benefits, has put pressure on rival carriers to hand out similar deals ahead of a busy summer travel season. Earlier this month, the company's pilots union voted to authorize a strike vote - a bargaining tactic unions have been using in contract negotiations. However, Kirby did not reveal details included in the proposal, other than to say United would top the recent deals agreed to by its two biggest rivals. "We have disagreed with the company on the costing of items and they, in our opinion, have inflated many. Meanwhile, shares of United Airlines rose 3.5% in afternoon trade, benefiting from broader market gains.

Persons: Scott Kirby, Kirby, Priyamvada C, Nathan Gomes, Allison Lampert, Shilpi Majumdar, Shailesh Kuber, Pooja Desai Organizations: United Airlines Holdings Inc, Delta Air Lines, Bloomberg, Air Line Pilots Association, Reuters, United Airlines, Thomson Locations: North America, Chicago

☆ Restaurant chain Cava raises IPO valuation target to $2.23 bln
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Cava Group Inc, which operates a chain of Mediterranean fast-casual restaurants in the United States, said on Monday that it is now aiming for a valuation of up to $2.23 billion in its U.S. initial public offering. Cava now intends to sell roughly 14.44 mln shares to raise $289 million based on the top end of the new proposed range, up from $274.4 million last week. The company is expected to debut on the New York Stock Exchange under the symbol "CAVA" on Thursday. Cava logged a net loss of $59 million in fiscal 2022 compared to $37.4 million in the prior year. Reporting by Manya Saini and Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Manya Saini, Savyata Mishra, Shailesh Organizations: Inc, New York Stock Exchange, Cava, Thomson Locations: Cava, United States, Bengaluru

☆ Salesforce unveils AI Cloud offering, doubles fund for AI startups to $500 mln
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Salesforce (CRM.N) on Monday doubled its venture capital fund for generative AI startups to $500 million and unveiled the AI Cloud service that hopes to attract enterprises by offering the company's AI-powered products under one umbrella. AI Cloud will include Salesforce's products from the Einstein service to workplace-messaging app Slack and data analysis software Tableau. The move underscores the race among technology companies to incorporate their tools with generative AI, which can create new text, imagery and other content based on inputs from past data. Along with the company's own offerings, AI Cloud will host the large-language models (LLMs) - the core software of artificial intelligence systems - from providers such as Amazon Web Services, Anthropic and Cohere. Salesforce said it plans to ensure data privacy for businesses using such offerings by helping prevent the LLMs from retaining sensitive customer information.

Persons: Marc Benioff, Salesforce, Einstein, OpenAI, Slack, Tiyashi Datta, Shailesh Organizations: Amazon Web Services, Thomson Locations: Bengaluru

☆ Dollarama beats sales estimates on strong demand for essentials
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Canadian discount store chain Dollarama Inc (DOL.TO) beat market expectations for quarterly sales on Wednesday, benefiting from strong demand for its cheaper groceries and household supplies. The company's U.S. counterpart Dollar Tree Inc (DLTR.O), however, trimmed its annual profit forecast in May, while Dollar General Corp (DG.N) cut its annual profit and sales forecast, both citing slowing demand for discretionary goods. Last month, retail bellwether Walmart Inc (WMT.N) said it saw strong demand for its low-priced groceries and other essentials, and is expecting this trend to continue in the back half of the year. Dollarama on Wednesday reaffirmed its fiscal 2024 same store sales forecast and gross margin at 5.0% to 6.0% and 43.5% to 44.5%, respectively. The company's sales rose to C$1.29 billion ($964 million) in the first quarter, from C$1.07 billion a year earlier, compared with analysts' average estimate of C$1.25 billion, according to IBES data from Refinitiv.

Persons: Dollarama, Juveria Tabassum, Aatrayee Chatterjee, Shailesh Organizations: Inc, Dollar, Corp, Walmart Inc, Thomson Locations: U.S, Refinitiv, Bengaluru

☆ Ford recalls 125,000 vehicles over engine failures that can cause fires
▼ + stars: | 2023-06-06 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Companies Ford Motor Co FollowWASHINGTON, June 6 (Reuters) - Ford Motor Co (F.N) said on Tuesday it is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire. Ford said isolated engine manufacturing issues can cause the engine to fail prematurely and in that event engine oil or fuel vapor may be released, increasing the risk of fire and injury. Ford said on Tuesday it had reports of at least three vehicles that suffered fires after getting the 2022 recall fix. Ford and NHTSA advised owners to park and shut off the engine if they hear unexpected engine noises, notice a reduction in vehicle power, or see smoke. Ford said last week that dealers will add an in-line fuse to the battery monitor sensor power circuit.

Persons: Ford, David Shepardson, Mrinmay Dey, Nathan Gomes, Shailesh Kuber, Jason Neely Organizations: Ford, Ford Motor, Lincoln Corsair, National, Traffic Safety Administration, NHTSA, Thomson Locations: WASHINGTON, United States, U.S, Washington, Bengaluru

☆ Surf Air Mobility reveals revenue jump in listing paperwork
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Surf Air Mobility's revenue for a unit jumped nearly 72% in 2022, the electric aviation and regional air travel company's regulatory filing with the U.S. Securities and Exchange Commission to list its shares in New York showed on Monday. The company said its unit Surf Air generated $20.27 million in revenue for the year ended Dec. 31, compared with $11.8 million, a year earlier. It had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm. The company intends to list its shares on the New York Stock Exchange under the ticker symbol 'SRFM'. Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Manya Saini, Shailesh Kuber Organizations: U.S . Securities, Exchange Commission, Surf, U.S, New York Stock Exchange, Thomson Locations: New York, United States, Bengaluru

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