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☆ UnitedHealth Revenue Climbs as Premiums Rise
▼ + stars: | 2023-01-13 | by ( Dean Seal | Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

UnitedHealth is the first healthcare heavyweight to report earnings this season. UnitedHealth Group Inc. closed out 2022 with a fourth consecutive quarter of double-digit revenue growth as both premiums and medical costs continue to rise. The healthcare and insurance company said Friday that revenue rose 12% to $82.79 billion, topping analyst expectations of $82.48 billion, according to FactSet.

☆ Singapore 2022 bunker fuel sales dip 4.3% y/y to 47.9 mln tonnes
▼ + stars: | 2023-01-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 13 (Reuters) - Sales of marine fuel in Singapore, including sales of liquefied natural gas and biofuels, fell 4.3% year-on-year to 47.9 million tonnes in 2022, official data showed on Friday. Bunkering sales of low-sulphur fuel oils (LSFO) were down 8.3% from the previous year to 30.1 million tonnes in 2022, Reuters calculations based on data from the Maritime and Port Authority of Singapore (MPA) showed. Total high-sulphur fuel oil (HSFO) sales for bunkering were up 6.2% from the previous year to 13.7 million tonnes in 2022, while sales of marine gasoils (MGO) dipped 6.2% to 3.8 million tonnes in 2022. Bunker sales of biofuel blends reached 140,000 tonnes with more than 90 biofuel bunkering operations completed in Singapore, surpassing bunker sales of liquefied natural gas (LNG) which totalled 16,000 tonnes, the MPA said. A total of 577.7 million tonnes of cargo was handled in 2022, with vessel arrival tonnage hitting 2.83 billion gross tonnage (GT).

Jan 11 (Reuters) - NBC News appointed New York Times Deputy Managing Editor Rebecca Blumenstein to a newly created role of president of editorial, the broadcaster announced on Wednesday. NBC News President Noah Oppenheim, who led the division since 2017, will depart in a shake-up that includes two other executive appointments. Before that, she worked for 21 years at the Wall Street Journal, where her positions included deputy editor-in-chief, page one editor, international editor and editor of WSJ.com. As part of the restructuring, NBC News promoted Libby Leist to executive vice president, TODAY and Lifestyle, and promoted Janelle Rodriguez to executive vice president at the NBC News NOW streaming network. Prior to running NBC News, Oppenheim spent two years as executive in charge of the morning news broadcast TODAY.

☆ Factbox: Tech firms, Wall Street lead job cuts in corporate America
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +6 min

Jan 11 (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 the economic downturn. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. Job seekers wait before a job fair for airport related employment at Logan International Airport in Boston, Massachusetts, U.S., December 7, 2021. Blue Apron Holdings Inc (APRN.N):The online meal-kit company said it will cut about 10% of its corporate workforce, as it looks to reduce costs and streamline operations. Last year, company executives had said the home goods retailer was cutting about 20% of its corporate and supply chain workforce.

☆ Factbox: FACTBOX Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +5 min

Jan 10 (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 the economic downturn. Cisco Systems Inc (CSCO.O):The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. Consumer and retail companies:Beyond Meat Inc (BYND.O):The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million.

☆ Disney asks employees to work from office four days a week - CNBC
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Walt Disney Co's (DIS.N) top boss Bob Iger told employees to return to corporate offices four days a week starting March 1, CNBC reported on Monday, citing an email. The entertainment giant did not immediately respond to a Reuters request for comment. The pandemic prompted companies across the world to turn to work-from-home or hybrid work models to prevent the spread of the virus. However, with the rise of vaccinations and fall in severe cases that require hospitalization, Disney's move mirrors other companies like Snap (SNAP.N), Tesla (TSLA.O) and Uber (UBER.N) in asking employees to return to office. read moreReporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Intel's Mobileye sees $17 bln in assisted-driving product revenues by 2030
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

Jan 5 (Reuters) - Intel Corp's (INTC.O) self-driving tech unit Mobileye Global Inc (MBLY.O) said on Thursday it sees more than $17 billion in revenues for its advanced driver assistance systems (ADAS) products by 2030. Jerusalem, Israel-based Mobileye, which went public in October last year, is a top player in the ADAS market, which shares components with fully automated self-driving systems but costs much less. A push to incorporate assisted-driving capabilities to bolster safety features in cars has led to greater adoption of self-driving technology, helping companies such as Mobileye. It also expects an additional $3.5 billion in revenues through 2028, for its autonomous mobility-as-a-service products. It is up about 48% from the IPO price of $21, valuing Mobileye at nearly $25 billion.

☆ Factbox: Tech firms leading job cuts in Corporate America
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +9 min

Jan 9 (Reuters) - Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Microsoft Corp (MSFT.O):The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return. HP Inc (HPQ.N):The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. CNN:Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.

Tuesday's slide knocked off nearly $50 billion in market value, roughly equal to the valuation of rival Ford Motor Co (F.N), which last year sold three times as many cars as Tesla. The sell-off came after Tesla missed market expectations for fourth-quarter deliveries despite shipping a record number of vehicles. Tesla's market value has declined by about $370 billion since Chief Executive Elon Musk closed the deal to buy social media firm Twitter. Tesla shares biggest loser among Big Tech Tesla shares biggest loser among Big Tech since AprilTesla delivered 405,278 vehicles in the fourth quarter, short of analysts' estimates of 431,117. The gap between production and deliveries has widened to 34,000 vehicles as more cars got stuck in transit.

A decades-old federal program that offered big drug discounts to a small number of hospitals to help low-income patients now benefits some of the most successful nonprofit health systems in the U.S. Under the program, hospitals buy drugs at reduced prices and sell them to patients and their insurers for much more, often at facilities in affluent communities.

☆ Elon Musk restores Twitter accounts of journalists but concerns persist
▼ + stars: | 2022-12-17 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

Dec 17 (Reuters) - Elon Musk reinstated the Twitter accounts of several journalists that were suspended for a day over a controversy on publishing public data about the billionaire's plane. A Twitter poll that Musk conducted later also showed that a majority of the respondents wanted the accounts restored immediately. Accounts who doxxed my location will have their suspension lifted now," Musk said in a tweet on Saturday. A Reuters check showed the suspended accounts, which included journalists from the New York Times, CNN and the Washington Post, have been reinstated. Musk accused the journalists of posting his real-time location, saying it amounted to providing "basically assassination coordinates" for his family.

☆ Musk says will restore recently suspended journalists' Twitter accounts
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: 1 min

Dec 17 (Reuters) - Elon Musk said on Saturday he will reinstate the Twitter accounts of several journalists that were suspended in a controversy over publishing public data about the billionaire' s plane. "The people have spoken. Accounts who doxxed my location will have their suspension lifted now," he tweeted. loadingReporting by Eva Mathews and Rhea Binoy in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. FDA approves Ferring Pharma's first gene therapy for bladder cancer
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 16 (Reuters) - The U.S. Food and Drug Administration on Friday approved Swiss drugmaker Ferring Pharmaceuticals' first gene therapy for treating adult patients with a type of bladder cancer. The therapy, Adstiladrin, is for patients with an aggressive form of the disease whose current options include having their bladder removed. The treatment, to be administered once every three months into the patient's bladder, triggers the body to make a protein to fight off cancer. Adstiladrin is expected to be commercially available in the United States in the second half of 2023, Ferring said. Bladder cancer is one of the most common cancer in the United States, with non-muscle invasive bladder cancer (NMIBC) representing about 75% of all such cases.

☆ Avaya nears chapter 11 bankruptcy filing - WSJ
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - IT firm Avaya Holdings Corp (AVYA.N) is reaching a chapter 11 bankruptcy filing to restructure its balance sheet, in a bid to turn around its business and move past accounting problems, the Wall Street Journal reported on Thursday. Earlier this week, it said it was in talks with its financial stakeholders regarding a comprehensive resolution to strengthen its balance sheet. Another plan, supported by holders of Avaya's unsecured bonds, proposes to restructure the company out of court, including by issuing new bonds and loans to retire some old debt, the report said. Avaya's shares have fallen nearly 97% this year, crimping its market cap to around $45 million from more than $2 billion a year ago. Reporting by Anirban Chakroborti and Eva Mathews in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter suspends account tracking Elon Musk's jet
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

Dec 14 (Reuters) - Twitter Inc suspended an account tracking its owner Elon Musk's private jet in real-time, with the billionaire threatening legal action against the account's operator after saying his son had been mistakenly followed by a "crazy stalker". ElonJet, operated by 20-year-old university student Jack Sweeney, had tracked the movements of Musk's private jet using data available in the public domain before the suspension. The billionaire also tweeted that one of his sons, lil X, had been harassed, and linked it to the tracking accounts. Sweeney, a student at the University of Central Florida, who also operates similar bot accounts tracking Musk's jet on Facebook, Instagram and Telegram, told BuzzFeed the suspension is "a surprise to many people after he publicly said he wouldn't do it." Separately, Twitter accounts tracking the jets of billionaire tech entrepreneurs Mark Zuckerberg, Jeff Bezos and Bill Gates were also suspended.

☆ Warner Bros Discovery expects $1 bln more in scrapped content charges
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Warner Bros Discovery Inc (WBD.O) on Wednesday raised its expectations of costs related to content write-offs by $1 billion and said the charges could now reach up to $3.5 billion. For the media company, formed earlier this year by the merger of AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc, the total financial restructuring cost could now be between $4.1 billion and $5.3 billion. Some reports said the shows "Nevers" and "Westworld" would be pulled from HBO Max. The company has said the restructuring initiatives will be substantially completed by the end of 2024. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Nonprofit Health Plans With $6.8 Billion in Projected Revenue Set to Combine
▼ + stars: | 2022-12-14 | by ( Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Eric Hunter, left, the chief executive of CareOregon, would lead HealthRight’s Medicaid division. Sachin Jain, SCAN’s chief, would be CEO of the new company. Two nonprofit health plans focused on government-backed coverage are planning to combine in a deal that aims to create a sizable new player in the rapidly growing business of managed Medicare and Medicaid. SCAN Group, based in Long Beach, Calif., and CareOregon, of Portland, Ore., plan to join up under the new name HealthRight Group, they said.

☆ Twitter to shut down newsletter product Revue next year
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Twitter said on Wednesday it will discontinue its newsletter product Revue next year, days after owner Elon Musk said he was open to buying rival online publishing platform Substack. "This has been a hard decision because we know Revue has a passionate user base, made up of people like you," Twitter said in a post to users. "We'll cut to the chase: from January 18, 2023, it will no longer be possible to access your Revue account. On that date, Revue will shut down and all data will be deleted." Revue was founded seven years ago in the city of Utrecht in the Netherlands.

☆ Twitter suspends bot account tracking Elon Musk's jet
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Twitter Inc suspended a bot account tracking its owner Elon Musk's private jet, the account's operator Jack Sweeney said in a tweet on Wednesday. The Twitter account tracked movements of Musk's private jet using data available in the public domain. Later in the day, Sweeney's Twitter account was also suspended. In previous media interviews, Sweeney said he turned down a $5,000 offer from Musk in 2021 to shut down the bot account. Separately, Twitter accounts tracking the jets of billionaire tech entrepreneurs Mark Zuckerberg, Jeff Bezos and Bill Gates have also been suspended.

☆ Elton John quits Twitter
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Elton John performs "Bennie and the Jets" as he wraps up the U.S. leg of his 'Yellow Brick Road' tour at Dodger Stadium in Los Angeles, California, U.S. November 20, 2022. REUTERS/David SwansonDec 9 (Reuters) - British musician Elton John quit Twitter on Friday, the latest high-profile celebrity to leave the social media platform following its acquisition by billionaire Elon Musk. John, who is currently on his last-ever global tour, blamed Twitter's recent policy change as a reason for quitting. Yet it saddens me to see how misinformation is now being used to divide our world," John tweeted to his 1.1 million followers. loading"I've decided to no longer use Twitter, given their recent change in policy which will allow misinformation to flourish unchecked."

☆ Broadcom gives upbeat revenue forecast as server, data center demand booms
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Broadcom Inc (AVGO.O) forecast current-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for chips used in data centers and networking equipment. Companies are increasingly investing in the infrastructure needed to support a switch to hybrid work models, giving Broadcom - which makes chips for data centers, routers and Wi-Fi modems - an edge over competitors with more exposure to smartphones and PCs. Shares in Broadcom, which are down over 20% this year, rose 3% in extended trading. The company forecast first-quarter revenue of about $8.9 billion, compared with analysts' estimates of $8.78 billion, according to Refinitiv data. Revenue rose 21% to $8.93 billion in the fourth quarter ended Oct. 30.

☆ GameStop's third quarter disappoints on lack of hit titles, inflation pinch
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop posted revenue of $1.19 billion in the third quarter, missing estimates of $1.36 billion, according to Refinitiv IBES data. On an adjusted basis, the company lost 31 cents per share, compared with analysts' estimates of a loss of 28 cents per share. GameStop's expenses as a percentage of revenue was 32.7% in the quarter, down from 34.1% in the second quarter, as the company has tried to cut costs by reducing its workforce and shutting down stores.

☆ GameStop posts 9.4% fall in third-quarter revenue
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - GameStop Corp (GME.N) posted a 9.4% fall in quarterly revenue on Wednesday as consumers cut back spending on discretionary items amid stubbornly high inflation. The company launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop's revenue in the third quarter fell to $1.19 billion from $1.30 billion a year earlier. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Uber, Motional launch robotaxi service in Las Vegas
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional have launched their public robotaxi service in Las Vegas on Wednesday. Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, leaving investors worried. The launch is part of a non-exclusive 10-year agreement between both the companies for driverless vehicles, with a rollout in Los Angeles expected to follow. In the multi-market deal, Motional's autonomous vehicles would also ferry both passengers and delivery items for Uber and its Uber Eats division. Last month, rival Lyft (LYFT.O) said it would launch the robotaxi service in Los Angeles after it had rolled out in Las Vegas earlier this year.

☆ BuzzFeed to cut workforce by 12%
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: 1 min

Dec 6 (Reuters) - Online media company BuzzFeed Inc (BZFD.O) said on Tuesday it will cut about 12% of its workforce, in a bid to reduce costs. As of Dec. 31, BuzzFeed had 1,522 employees across six countries, according to a regulatory filing. Reporting by Eva Mathews in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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