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☆ Why Apple is so obsessed with India
▼ + stars: | 2023-07-18 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

A growing middle class and demand for high-end tech offers opportunities for Apple to grow revenue. And so I'm very, very bullish and very, very optimistic about India," Apple CEO Tim Cook told investors in 2017. Only 5% of smartphones sold in India are iPhonesAccording to CNBC, iPhones accounted for 5.1% of all smartphone sales this year in India. India also now accounts for 4% of all iPhone sales, making it the fifth-largest consumer of Apple phones. Apple already dominates the US and much of the rest of the world, but it is still a minor player in India.

Persons: Goldman Sachs, Tim Cook, Beatrice Nolan, Cook, Nitin Soni, Forbes Organizations: Apple, Morning, CNBC, Labor, Fitch Ratings Locations: India, China, Greater China, US

☆ Netflix shielded from Hollywood strike by global crew, strong pipeline
▼ + stars: | 2023-07-17 | by ( Samrhitha A | ) www.reuters.com time to read: +4 min

Some of the people on strike are also picketing the Netflix offices in Los Angeles. Netflix's international production capabilities are a "huge differentiator", and a lot of their content comes from countries that are not involved in the strike, analysts at SVB MoffettNathanson, Credit Suisse and Insider Intelligence said. Netflix is expected to have added a net 1.77 million subscribers, according to Refinitiv, in what is typically a weak quarter due to school holidays. The company lost nearly 1 million subscribers in the year-ago period. The second quarter also featured some strong programming from Netflix, including hits like "Queen Charlotte: A Bridgerton Story" and "Never Have I Ever Season 4".

Persons: Gal, Michael Nathanson, Nathanson, Jamie Lumley, Charlotte, Samrhitha, Aditya Soni, Shounak Organizations: Netflix, U.S, Credit Suisse, Insider Intelligence, Disney, Reuters, Macquarie, Intelligence, Thomson Locations: Hollywood, Los Angeles, United States, U.S, Bengaluru

Tesla's earnings on Wednesday are expected to show its gross profit margin declined to 18.9% in the second quarter, according to 19 analysts polled by Visible Alpha. "Tesla's market share for the EV segment is likely to decline over time," said Morningstar analyst Seth Goldstein said. "However, I think the more appropriate metric to look at is Tesla's total auto market share, which continues to grow as they continue to grow deliveries." Reuters GraphicsCHARGING AHEADAs EV sales slow, Tesla has been moving aggressively to capture a larger share of the U.S charging market in a bid to diversify its revenue. Piper Sandler estimates Tesla's revenue from its charging network to hit $9.65 billion in 2032, with more than half the sales coming from EVs made by other carmakers using its network.

Persons: Elon, Tesla, Vitaly Golomb, Seth Goldstein, Piper Sandler, EVs, Akash Sriram, Aditya Soni, Vinay Dwivedi Organizations: stoke, Ford, Visible Alpha, Reuters, Reuters Graphics, General Motors, Thomson Locations: BYD, China, U.S, Bengaluru

☆ US FTC opens investigation into OpenAI over misleading statements -document
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

The FTC this week sent a 20-page demand for records about how OpenAI - the maker of generative artificial intelligence chatbot ChatGPT - addresses risks tied to its AI models. The agency is probing if OpenAI engaged in unfair practices that resulted in "reputational harm" to consumers. According to the FTC's demand for information sent to OpenAI, one of the questions has to do with steps OpenAI has taken to address its products' potential to "generate statements about real individuals that are false, misleading, or disparaging." The FTC declined comment, while OpenAI did not immediately respond to a request for comment. OpenAI in March also ran into trouble in Italy, where the regulator had ChatGPT taken offline over accusations OpenAI violated the European Union's GDPR - a wide-ranging privacy regime enacted in 2018.

Persons: OpenAI, Lina Khan, Dado Ruvic, Chuck Schumer, ChatGPT, Diane Bartz, Mrinmay Dey, Samrhitha Arunasalam, Aditya Soni, Nivedita Bhattacharjee, Mark Porter, Maju Samuel Organizations: U.S . Federal Trade Commission, Microsoft, FTC, Activision Blizzard, Washington Post, REUTERS, Reuters, U.S ., Thomson Locations: United States, Italy, U.S, Washington, Bengaluru

☆ Elon Musk launches AI firm xAI as he looks to take on OpenAI
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

In a Twitter Spaces event Wednesday evening, Musk explained his plan for building a safer AI. Rather than explicitly programming morality into its AI, xAI will seek to create a "maximally curious" AI, he said. Musk in March registered a firm named X.AI Corp, incorporated in Nevada, according to a state filing. The firm lists Musk as the sole director and Jared Birchall, the managing director of Musk's family office, as a secretary. Dan Hendrycks, who will advise the xAI team, is currently director of the Center for AI Safety and his work revolves around the risks of AI.

Persons: Elon Musk, Musk, xAI, that's, Igor Babuschkin, DeepMind, Tony Wu, Szegedy, Greg Yang, Jared Birchall, Google's Bard, Microsoft's, Bing, Bard, Dan Hendrycks, Tesla, Akash Sriram, Chavi Mehta, Yuvraj Malik, Aditya Soni, Anna Tong, Shailesh Kuber, Leslie Adler Organizations: SpaceX, Twitter, Microsoft, Google, X.AI Corp, Center, AI Safety, X Corp, Thomson Locations: OpenAI, Nevada, San Francisco Bay, Bengaluru, Anna, San Francisco

Activision shares surged 10% on the day, as the U.S. and Britain have been the two countries opposed to what would be Microsoft's biggest deal ever and the largest transaction in the videogame industry's history. Microsoft shares rose 64 cents to $332.47. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "It does seem like the Microsoft and the CMA could work out a deal within the next couple of weeks," said D.A. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming.

Persons: Jacqueline Scott Corley, ”, Joost Van Dreunen, University's, Corley, Douglas Farrar, we'll, Dado Ruvic, Biden, Brad Smith, Franco Granda, Satya Nadella, Diane Bartz, David Shepardson, Jaspreet Singh, Aditya Soni, Chris Sanders, Caitlin Webber, Matthew Lewis David Gregorio, Muralikumar Organizations: Activision, Microsoft, Biden, U.S, Markets Authority, University's Stern School of Business, U.S . Federal Trade Commission, Nintendo, Sony Group, FTC, Sony PlayStation, REUTERS, FOCUS Gaming, CMA, Davidson &, PlayStation, Thomson Locations: WASHINGTON, U.S, British, Britain, San Francisco, New, Washington, Bengaluru

☆ Meta's Threads swiftly signs up 30 million users, in clear threat to Musk-owned Twitter
▼ + stars: | 2023-07-06 | by ( Aditya Soni | ) www.reuters.com time to read: +5 min

Mastodon, another Twitter-like app, has 1.7 million monthly active users, according to its website, while Twitter co-founder Jack Dorsey-backed Bluesky has about 265,000 users. Twitter had 229 million monthly active users in May 2022, according to a statement made before Musk's buyout. THREADS HAS CERTAIN LIMITATIONSMeta's Threads app logo is seen in this illustration taken July 4, 2023. Threads does not have hashtags and keyword search functions, which means users cannot follow real-time events like on Twitter. Currently there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.

Persons: Zuckerberg, Elon Musk, Mark Zuckerberg, Twitter's, Jasmine Enberg, Twitter, Meta, Niklas Myhr, Jack Dorsey, Bluesky, Dado Ruvic, hasn't, Marques Brownlee, Linda Yaccarino, Musk, Pinar Yildirim, Aditya Soni, Yuvraj Malik, Bansari Mayur, Akash Sriram, Shounak Dasgupta Organizations: Meta, Twitter, Intelligence, Chapman University, REUTERS, Facebook, University of Pennsylvania's Wharton, Thomson Locations: Las Vegas, Bengaluru

☆ Meta's Threads is a serious threat to Musk-owned Twitter, analysts say
▼ + stars: | 2023-07-06 | by ( Aditya Soni | ) www.reuters.com time to read: +5 min

While Threads is a standalone app, users can log in using their Instagram credentials, which makes it an easy addition for Instagram's more than 2 billion monthly active users. Twitter, by comparison, had 229 million monthly active users in May 2022, according to a statement made before Musk's buyout of the social media platform. Mastodon, another Twitter-like app, has 1.7 million monthly active users, according to its website, while Twitter co-founder Jack Dorsey-backed Bluesky has about 265,000 users. Threads does not have hashtags and keyword search functions, which means users cannot follow real-time events like on Twitter. Overall, analysts said Threads was a strong competitor to Twitter, which has been rocked by abrupt decisions by Musk.

Persons: Elon Musk, Kim Kardashian, Gordon Ramsay, Niklas Myhr, Mark Zuckerberg, Pinar Yildirim, Jack Dorsey, Bluesky, Zuckerberg, Musk, Jasmine Enberg, Marques Brownlee, hasn't, Aditya Soni, Yuvraj Malik, Bansari, Shounak Dasgupta Organizations: Twitter, Chapman University, Facebook, University of Pennsylvania's Wharton, Intelligence, Bloomberg News, Union, Thomson Locations: Las Vegas, Bengaluru

☆ Tesla extends blistering rally after quarterly deliveries beat
▼ + stars: | 2023-07-03 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

July 3 (Reuters) - Tesla (TSLA.O) shares jumped about 7% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk's plan of boosting volumes through discounts was working. The stock, which hit the highest in more than four months, closed up 17.4% in a holiday-shortened session. [1/2]The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. The median price target on the stock stands at $210, which is about 20% below its last closing price. Tesla has a forward price-to-earnings ratio of around 62.9, far above Ford's (F.N) 8.82 and near the 62.66 of Amazon.com (AMZN.O).

Persons: Elon Musk's, Lucy Nicholson, Gene Munster, Tesla, Bernstein, Toni Sacconaghi, Aditya Soni, Akash Sriram, Shounak Dasgupta, Sriraj Organizations: U.S, Rivian, REUTERS, Asset Management, Thomson Locations: Irvine , California, Los Angeles , California, U.S, Bengaluru

☆ Tesla's blistering rally continues after quarterly deliveries beat
▼ + stars: | 2023-07-03 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

[1/2] The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson/File PhotoJuly 3 (Reuters) - Tesla (TSLA.O) shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk's plan of boosting volumes through discounts was working. "Tesla's price cuts are working in a big way," said Gene Munster, managing partner at investment firm Deepwater Asset Management. The median price target on the stock stands at $210, which is about 20% below its last closing price. "Our money's on Elon," said Canaccord Genuity analyst George Gianarikas, who lifted his price target on Tesla by $36 to $293.

Persons: Lucy Nicholson, Elon Musk's, Gene Munster, Tesla, Bernstein, Toni Sacconaghi, Canaccord, George Gianarikas, Aditya Soni, Shounak Dasgupta Organizations: REUTERS, Asset Management, Thomson Locations: Los Angeles , California, U.S, Elon

REUTERS/Dado Ruvic/Illustration/File PhotoJune 16 (Reuters) - U.S. electric-vehicle startups were set for massive weekly gains on Friday after a searing rally in their shares over the past few sessions nearly doubled the value of companies such as Nikola (NKLA.O). Other big gainers such as Nikola and Workhorse Group (WKHS.O) have short interests of 21.7% and 23.9%, respectively. Reuters GraphicsUsed-car retailer Carvana (CVNA.N), another highly shorted stock, has also posted strong gains that have pushed up its value by nearly $1.38 billion this week. "Carvana probably kick-started this, it is up more than 100% in a couple of weeks on a short squeeze. Nikola and Lordstown have drawn a flurry of bullish options activity in recent days as traders place bets on further gains.

Persons: Dado Ruvic, Nikola, Dennis Dick, Carvana, Tesla, Lordstown, Aditya Soni, Akash Sriram, Saqib Iqbal Ahmed, Shounak Dasgupta Organizations: REUTERS, Lordstown, S3 Partners, Reuters, Triple, EV, U.S, Nasdaq, Thomson Locations: Morgan, Bengaluru, New York

☆ Electric-vehicle startups set to extend blistering rally
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoJune 16 (Reuters) - Electric-vehicle startups from Nikola (NKLA.O) to Lordstown Motors (RIDE.O) were set on Friday to extend a blistering rally in their shares that has put the cash-strapped companies on track for hefty weekly gains. For instance Nikola, which has more than doubled in value this week, has a short interest of 15.7%, according to Refinitiv. The EV startups, meanwhile, have added over $500 million to their collective market value. Nikola shares were 20% higher before the bell on Friday at $1.65, on course to stay above the minimum level for the third straight session. Still, many challenges remain for the EV startups, evidenced by the year-to-date stock price declines of 35% and 75% seen at Nikola and Lordstown, respectively.

Persons: Dado Ruvic, Nikola, Lordstown, Foxconn, Aditya Soni, Akash Sriram, Shounak Dasgupta Organizations: REUTERS, Nikola, Lordstown Motors, EV, U.S, Faraday, Nasdaq, Thomson Locations: Morgan, Bengaluru

During the streak, Tesla shares rose by more than 40%, boosting its market value to roughly $814 billion. The rally was kicked off by news of the adoption of Tesla's charging system by legacy U.S. automakers Ford (F.N) and General Motors (GM.N). Wedbush compared Tesla's share gains to Amazon, which for years defied many investor expectations that its stock would eventually fall. Tesla shares slumped in 2022, losing 65% of their value, and helping the shorts make a mint. The 13-day rally cost short sellers more than $7 billion in mark-to-market losses, taking year-to-date losses to nearly $12.7 billion, according to S3 Partners.

Persons: Tesla, Chavi Mehta, Aditya Soni, David Gaffen, Maju Samuel Organizations: Toyota, U.S, Ford, General Motors, America, Wall Street, Wedbush Securities, Amazon.com, GM, S3 Partners, Thomson Locations: U.S, Bengaluru

☆ Canada's Bell deepens news industry gloom with 1,300 job cuts
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

The layoffs will mostly affect management and follow thousands of cuts in the media industry that has been wrestling with dwindling ad dollars, elevated levels of inflation and the ongoing shift from cable TV to streaming. The company expects Bell Canada's legacy phone revenue to decline by $250 million each year, while the news operation posts annual operating losses of $40 million. "Our industry is experiencing a major disruption," said senior executive Wade Oosterman in an internal memo seen by Reuters. The Canadian telecom industry has over recent years come under pressure from the government to bring down phone bills in a concentrated market. Affected employees will be informed this week, Bell said, adding that vacant positions were eliminated to minimize the impact on teams.

Persons: Bell, Wade Oosterman, Chrystia Freeland, Samrhitha Arunasalam, Aditya Soni, Shilpi Majumdar, Shinjini Organizations: Bell, Inc, Reuters, Google, Facebook, U.S, CTV, Canadian Finance, Canada, Thomson Locations: Canadian, London, Los Angeles, Washington, Ottawa, Bengaluru

☆ Manchester United shares hit two-month high on speculations over takeover bid
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - Shares of Manchester United (MANU.N) jumped 13% to hit a two-month high on Tuesday after a report hinted that Qatar's Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club. Qatar's Al-Watan newspaper reported on Tuesday that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League soccer club, CNBC said. Manchester United declined a Reuters request for comment. New York-listed shares of Manchester United were trading at $23.07, after rising as much as 30% before the opening bell. The Glazer family is reportedly seeking 6 billion pounds ($7.5 billion), which would be a world record for any sports club or franchise, but neither bid is that high.

Persons: Sheikh Jassim bin Hamad, Thani, Qatar's, Sheikh Jassim, Molly Darlington, Jim Ratcliffe's INEOS, Sheikh Jassim's, Glazer, Medha Singh, Aditya Soni, Shinjini Organizations: Manchester United, English, Watan, Premier League soccer, CNBC, Reuters, Soccer Football, Manchester City, FA, REUTERS, Mail, Thomson Locations: Qatar's Al, Old Trafford, Manchester, Britain, New York, Bengaluru

☆ Manchester United shares climb on speculations over takeover bid
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - Manchester United's shares (MANU.N) were up 15% in premarket trading on Tuesday after a report hinted that Qatar's Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club. Qatar's Al-Watan newspaper reported on Tuesday evening that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League soccer club, CNBC said. Manchester United declined a Reuters request for comment. New York-listed shares of Manchester United were up at $23.07, paring almost half their premarket gains on Tuesday. The Glazer family is reportedly seeking 6 billion pounds ($7.5 billion), which would be a world record for any sports club or franchise, but neither bid is that high.

Persons: Sheikh Jassim bin Hamad, Thani, Qatar's, Sheikh Jassim, Jim Ratcliffe's INEOS, paring, Glazer, Sheikh Jassim's, Medha Singh, Aditya Soni, Shinjini Organizations: Manchester United's, English, Watan, Premier League soccer, CNBC, Reuters, Manchester United, Daily Mail, Thomson Locations: Qatar's Al, . New York, Bengaluru

☆ Tesla shares jump on EV charging tie-up with GM
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

June 9 (Reuters) - Tesla (TSLA.O) shares jumped 5% on Friday on expectations that its electric-vehicle charging system would become an industry standard after General Motors (GM.N) joined cross-town rival Ford (F.N) in agreeing to use the Tesla Supercharger network. Already the world's most valuable automaker, Tesla was set to increase its market value by more than $30 billion to about $780 billion. Shares of General Motors, whose valuation is much lower at $49.8 billion but sells millions more vehicles annually, rose 3.5%. "We estimate Ford and GM combined could add another $3 billion to services EV charging revenue for Tesla over the next few years in another accretive poker move by Musk & Co," said analysts at Wedbush Securities, raising their price target on Tesla's shares to $300. They are expected to lag well behind EV market leaders Tesla and Volkswagen (VOWG_p.DE) through 2028, according to data provided by AutoForecast Solutions.

Persons: Elon, Tesla, Aditya Soni, Shounak Dasgupta Organizations: General Motors, Ford, U.S, EV, GM, Musk &, Wedbush Securities, GM EV, Detroit, Volkswagen, AutoForecast Solutions, Thomson

☆ Apple's Vision Pro an impressive headset with few likely buyers, analysts say
▼ + stars: | 2023-06-06 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

June 6 (Reuters) - Analysts lauded Apple's (AAPL.O) Vision Pro on Tuesday for its impressive technology, but warned that it will be a few years before the $3,499 augmented reality headset sees widespread adoption. That vision, analysts said, could take some time to materialize because the high price tag will likely dissuade most buyers and the product does not have any clear use beyond entertainment in a still nascent augmented reality (AR) market. "Apple proved they have a vision for the role AR technology could play for consumers ... and Vision Pro looked sleek/differentiated versus incumbents and performed with clear potential," Morgan Stanley analysts said. "However, the Vision Pro is not ready for mass consumption," they added, pointing to a bulky external battery pack and the lack of a "killer app", among other issues. The uncertainty regarding Vision Pro sales also drove a wide range of predictions on its expected shipments once the device goes on sale next year.

Persons: Tim Cook, Apple, Morgan Stanley, Harmeet Singh Walia, Walia, Christine Wang, James Cordwell, Aditya Soni, Shounak Dasgupta Organizations: Apple Watch, Vision, Meta, Apple, Facebook, Counterpoint Research, Vision Pro, KGI Securities, Credit Suisse, Thomson

☆ Apple to sell Vision Pro AR headset for triple Meta's top-line price
▼ + stars: | 2023-06-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +6 min

[1/4] People use cameras as Apple's Vision Pro headsets are on display at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. Apple's headset will be available early next year in the U.S. with more countries coming later in 2024. The Vision Pro has two hours of use with an external battery, which Apple said would reduce the weight on the user's head. Investors and tech fans alike are focused on how much Apple's view of the virtual reality market overlaps with Meta's. In addition to Meta, Sony Group Corp (6758.T) and ByteDance-owned Pico both recently released virtual reality devices.

Persons: Loren Elliott CUPERTINO, Apple, Alan Dye, Tim Cook, Walt Disney's, Mark Zuckerberg, there's, John Ternus, Apple's, Craig Federighi, Stephen Nellis, Yuvraj Malik, Dawn Chmielewski, Katie Paul, Peter Henderson, Aditya Soni, Lisa Shumaker Organizations: Developers, REUTERS, Apple Inc, Pro, Apple, Vision, Reuters, Adobe, Microsoft, Unity, Meta, Sony Group Corp, Pico, Research, IDC, Mac Pro, Mac, Intel, Thomson Locations: Cupertino , California, U.S, Loren Elliott CUPERTINO , California, Bengaluru, Dawn, Los Angeles, New York

☆ Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap - analysts
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

"Saudi Arabia has a track record of delivering on material cuts," RBC Capital's Helima Croft said in a note. "Hence, we would expect the full 1 million bpd unilateral cut to hit the market in July, nearly doubling the true physical reduction we have seen from the producer group since October." "With Saudi Arabia protecting oil prices from sliding too low by cutting production, we think oil markets are now more prone to a shortfall later this year," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "We think Brent futures will rise to $85/bbl by Q4 2023 even with a tepid demand recovery in China factored in." "Affording it the 200,000 bpd quota adjustment for 2024 seems to settle the issue of its OPEC membership for now."

Persons: Brent, Helima Croft, Vivek Dhar, Goldman Sachs, Daan Struyven, Callum Bruce, Daniel Hynes, Soni Kumari, RBC's Croft, Florence Tan, Sonali Paul Organizations: Saudi, Organization of, Petroleum, RBC, Commonwealth Bank of Australia, bbl, ANZ, U.S . Federal, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, China, Iran, Venezuela, OPEC, United Arab Emirates

☆ US telecom companies say not in talks with Amazon for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

June 2 (Reuters) - Major U.S. wireless carriers on Friday said they not in talks with Amazon.com Inc (AMZN.O) to offer low-cost wireless services to its Prime members. "AT&T is not in discussions with Amazon to resell wireless services," a company spokesperson said. Verizon spokesperson the company "is not in negotiations with Amazon regarding the resale of (Verizon's) wireless network. Brandon Nispel of KeyBanc Capital Markets said Dish Network, a relatively new entrant in wireless, could be the most likely partner for Amazon. They also rallied in May after a Wall Street Journal report that Dish was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Michael Ashley Schulman, Yuvraj Malik, Aditya Soni, Tanya Jain, Akash Sriram, David Shepardson, Sheila Dang, Nivedita Bhattacharjee Organizations: Major U.S, Amazon.com Inc, Wireless, Bloomberg News, Amazon, Dish Network, Verizon, Mobile, Penn State University, AT, KeyBanc, Journal, U.S, Running, Capital Advisors, Thomson Locations: Major, Bengaluru, Washington, Dallas

☆ US telecom stocks fall on report Amazon in talks for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Bloomberg News reported that Amazon was negotiating to get the lowest possible wholesale prices and could offer wireless plans for $10 a month or lower to Prime members through these partnerships. AT&T declined to comment, while T-Mobile said it was not in discussions with Amazon for inclusion of its wireless in Prime service. The details of the potential deals between Amazon and the wireless carriers were not immediately known. Dish's shares were an outlier in telecom stocks with a gain of 22%. The company's shares had also soared in May after a Wall Street Journal report that it was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Yuvraj Malik, Tanya Jain, Akash Sriram, Aditya Soni, Sheila Dang, Nivedita Bhattacharjee Organizations: Verizon Communications Inc, Mobile US Inc, Inc, U.S, Bloomberg News, Amazon, Penn State University, Verizon, Mobile, KeyBanc, Markets, Dish Network Corp, Journal, Thomson Locations: Amazon, Bengaluru, Dallas

☆ Elon Musk told Chinese Tesla workers in a late night speech that their hard work 'warms my heart' — 6 weeks after some complained about bonus cuts
▼ + stars: | 2023-06-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

He told them their hard work "warms my heart" and is "very important" for the world. In a late night speech, Elon Musk told Tesla workers at the Shanghai Gigafactory that their hard work "warms my heart." "I just want to let you know, it warms my heart," Musk said, tapping his chest before a fist pump. Tesla workers then criticized Musk on Chinese social media, and some people even complained to his mom on Twitter. Musk told CNBC he sleeps around six hours a night, and according to Jimmy Soni's book "The Founders," Musk was "perpetually sleep-deprived" at his first startup, Zip2.

Persons: Elon Musk, It's, Musk, Shanghai Gigafactory, he's, Tesla, He's, Jimmy Soni's Organizations: Tesla's Shanghai Gigafactory, Shanghai, Global Times, Reuters, Twitter, San Francisco, CNBC, Bloomberg Locations: China, San José del Cabo, Mexico, Shanghai

Take-Two Interactive Software Inc (TTWO.O) on Wednesday rounded off a strong March quarter for the sector that saw its three major players post net bookings growth of between 11% and 66%. The company said "NBA 2K23", "Grand Theft Auto V" and "Grand Theft Auto Online" were some of the top contributors to its net bookings growth in the reported quarter. The company forecast net bookings of more than $8 billion for next year, which was above analysts' estimates. "It (the GTA VI release) would be a watershed moment for the category of open-world games," said MoffettNathanson analyst Clay Griffin. "Tens and tens of millions of units would be sold immediately, and a new or completely refreshed GTA: Online would redefine what a modern 'metaverse' really looks like."

Musk revealed those plans on Tuesday at the company's annual meeting, an about-face for the celebrity executive who recently acquired social media platform Twitter. Musk told CNBC he did not yet have a "fully formed strategy" for Tesla advertising. Tesla spent $151,947 on advertising in the U.S. in 2022, according to advertising intelligence firm Vivvix, which measured ads across places including TV, social media, Web banners and billboards. Diaz-Ortiz is a former Twitter manager who has written books about the social media company. Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments, sees Musk's embrace of advertising as a positive.

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