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Tag: CMPNY

Amazon may have to tweak proposals for ending business practices probes, EU’s Vestager says
Business

Amazon may have to tweak proposals for ending business practices probes, EU’s Vestager says

Register now for FREE unlimited access to Reuters.comRegisterBRUSSELS, Sept 16 (Reuters) - Amazon (AMZN.O) may have to tweak its proposals to end two investigations into its business practices, EU antitrust chief Margrethe Vestager said on Friday following feedback from third parties on the issue.In July the U.S. online retailer said it would set up a data silo, preventing its retail arm from using data from its marketplace to make competing private label products. read more It will also end preferential treatment for itself and treat sellers equally when ranking their offers for the "buy box" on its website that generates the bulk of its sales.Register now for FREE unlimited access to Reuters.comRegisterVestager had given third parties until Sept. 9 to provide feedback before deciding...
Emirates picks Thales-made entertainment system for A350 fleet
Entertainment

Emirates picks Thales-made entertainment system for A350 fleet

The logo of Thales is seen on a company building in Brest, France, March 14, 2022. REUTERS/Stephane MaheRegister now for FREE unlimited access to Reuters.comRegisterPARIS, Sept 8 (Reuters) - Thales (TCFP.PA) on Thursday announced that Emirates chose to equip its future Airbus A350 fleet with a passenger entertainment system made by the French aviation supplier."This new fleet of A350's will be equipped with Thales' premier AVANT Up inflight entertainment solution to offer the finest cinematic and personalized customer experience", Thales said in a statement.The system consists of 4k displays offering over 5,000 television channels, bluetooth connections, Wi-Fi, and various charging ports for portable devices.Emirates has ordered 50 Airbus A350-900 long-haul aircraft with deliveries sche...
Desktop Metal to unveil 3D-printed sheet metal technology for cars, planes
Technology

Desktop Metal to unveil 3D-printed sheet metal technology for cars, planes

Register now for FREE unlimited access to Reuters.comRegisterSept 7 (Reuters) - U.S.-based 3D printer maker Desktop Metal Inc (DM.N) plans to unveil as early as on Wednesday a new technology that will dramatically simplify the industrial sheet metal production process, Chief Executive Officer Ric Fulop told Reuters.The technology Figur G15 is capable of shaping standard sheet metal on demand directly from a digital design file, eliminating the need of stamping tools, molds, dies, or presses and thus reducing costs and production lead time, Fulop added."This is a $300 billion market currently with no digital solutions," he said, adding Figur G15 is due to be introduced at a trade show in Chicago on Wednesday.Register now for FREE unlimited access to Reuters.comRegisterThe Massachusetts-b...
CVS in advanced talks to buy Signify Health for about $8 bln – WSJ
Health

CVS in advanced talks to buy Signify Health for about $8 bln – WSJ

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comRegisterSept 2 (Reuters) - CVS Health Corp (CVS.N) is in advanced talks to buy home-healthcare company Signify Health Inc (SGFY.N) for about $8 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.CVS appears to have beaten competition including Amazon.com Inc (AMZN.O) and UnitedHealth (UNH.N), who had also been circling Signify for a deal, according to the report. (https://on.wsj.com/3CVi2h1)UnitedHealth never submitted an official bid, WSJ said.Signify has been exploring strategic alternatives since earlier this summer, but there is still no guarantee that CVS will reach a deal, the report...
Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund
Technology

Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund

Register now for FREE unlimited access to Reuters.comRegisterDUBAI, Sept 1 (Reuters) - Luxembourg-based OQ Technology, a global 5G internet of things satellite operator, has raised 13 million euros ($13.05 million) in its Series A funding round co-led by Saudi Aramco's Wa'ed Ventures and Greece's Phaistos Investment Fund, according to a joint statement on Thursday.It is Wa'ed's first investment overseas, since it expanded its mandate to pursue global tech startups looking to localise their products and solutions in Saudi Arabia.Wa'ed is the entrepreneurial venture capital arm of the kingdom's state oil giant. Phaistos Investment Fund focuses on investment in 5G-related products and services and managed by 5G Ventures, a venture capital firm based in Athens.Register now for FREE unlimite...
NewAge, seller of health and wellness products, files for bankruptcy in Delaware
Health

NewAge, seller of health and wellness products, files for bankruptcy in Delaware

Register now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - NewAge Inc (NBEV.O), a direct-to-consumer seller of health and wellness products, filed for bankruptcy on Tuesday and said it plans to sell itself, after disclosing material weaknesses in its financial reporting.The Midvale, Utah-based company and three affiliates sought Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware.Tuesday's filing came three weeks after the company received a default notice on a loan agreement.Register now for FREE unlimited access to Reuters.comRegisterNewAge said it had $310.9 million of assets and $149.4 million of debts as of the end of 2021.In a regulatory filing, NewAge said it received a $28 million bid from an entity known as DIP Financing LLC to b...
Baidu revenue contracts but beats estimates on cloud business growth
Business

Baidu revenue contracts but beats estimates on cloud business growth

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - China's search engine giant Baidu Inc (9888.HK) beat quarterly revenue estimates on Tuesday, underpinned by growth in its cloud business, even as it reported its first year-on-year quarterly revenue contraction in two years.Total revenue shrank by 5% to 29.65 billion yuan ($4.43 billion) in the second quarter, compared with analysts' average estimate of 29.30 billion yuan, according to Refinitiv data.U.S.-listed shares of the company rose 3.2% in premarket trading.Register now for FREE unlimited access to Reuters.comRegisterEven as Baidu's core advertising sales continu...
Ukraine war, energy crisis send German business sentiment to lowest level since June 2020
Business

Ukraine war, energy crisis send German business sentiment to lowest level since June 2020

The skyline with its financial district is photographed as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown in Frankfurt, Germany, January 14, 2021. REUTERS/Kai Pfaffenbach/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterIndex falls for third month in a rowUkraine war, energy crisis weighs on business moraleIfo: Economy expected to shrink in Q3BERLIN, Aug 25 (Reuters) - German business morale in August fell to its lowest reading since June 2020 amid high uncertainty due to the Ukraine war, the resulting energy crisis and fears of an economic downturn in the third quarter, a survey said on Thursday.The Ifo institute's closely watched business climate index fell for a third consecutive month but less than expected to 88.5, from...
Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group
Health

Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group

Aug 25 (Reuters) - Australia's Ramsay Health Care Ltd (RHC.AX) said on Thursday it received a "meaningfully inferior" alternate proposal from a group led by KKR & Co (KKR.N) that would allow it to retain a 37% stake in its Paris-based unit Ramsay Generale De Sante (GDSF.PA).Ramsay currently owns over 52% shares in the Paris-based Ramsay Generale De Sante (Ramsay Sante). If accepted, the alternate offer would give the consortium a 15% stake in the hospital operator, while Ramsay shareholders would retain the balance. read more In April, the consortium comprising of private equity giant KKR and Australian pension fund HESTA, among others, made a cash offer of A$88.0 per share - valuing it at around $15 billion - and had been allowed due diligence on a non-exclusive basis.Register now...
EXCLUSIVE Malaysia’s Tenaga plans $1 bln IPO for power business, sources say
Business

EXCLUSIVE Malaysia’s Tenaga plans $1 bln IPO for power business, sources say

A view of Tenaga Nasional Berhad headquarters in Kuala Lumpur, Malaysia, October 13, 2015. REUTERS/Olivia HarrisRegister now for FREE unlimited access to Reuters.comRegisterSINGAPORE, Aug 12 (Reuters) - Malaysian electricity utility Tenaga Nasional Bhd (TENA.KL) plans to set begin the process next year for a potential $1 billion listing of its power generation business, sources close to the matter told Reuters.In what would be the country's largest initial public offering (IPO) in a decade, TNB Power Generation Sdn Bhd, known as TNB Genco, could be valued at about $4 billion, the sources said, declining to be named owing to the confidential nature of the matter.Proceeds from the offering will be used to grow TNB Genco's renewable energy portfolio, they added.Register now for FREE unlimi...