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Unity discovers how real the revenue struggle is
Virtual reality gears from Pico are displayed on the sidelines of the Olympic Esports Week in Singapore June 23, 2023. REUTERS/Edgar Su Acquire Licensing Rights NEW YORK, Sept 13 (Reuters Breakingviews) – Unity Software (U.N) is finding out just how hard the revenue game will be. The $14 billion company’s new plan to climb out …
Tesla’s governance autopilot heads for disaster
NEW YORK, May 17 (Reuters Breakingviews) – Portraying a CEO as a father figure is one way to tell there’s a lack of judicious oversight. Backing the company’s board despite obvious shortcomings is another. Tesla shareholders did both on Tuesday, with one of them playing the part of boss Elon Musk’s “son,” a robot the …
Luminar Tech CEO Russell to acquire majority stake in Forbes
May 12 (Reuters) – Luminar Technologies (LAZR.O) CEO Austin Russell will buy a majority stake in Forbes Global Media Holdings in a deal that values the business news publisher at nearly $800 million, Russell and Integrated Whale Media Investments (IWM) said in a statement on Friday. The automotive tech billionaire has agreed to acquire 82% …
First Republic secures new facility from JPMorgan
March 12 (Reuters) – U.S. private bank First Republic Bank (FRC.N) said on Sunday it had secured additional financing through JPMorgan Chase & Co (JPM.N), giving it access to a total of $70 billion in funds through various sources. First Republic’s announcement came after its share price was hit last week in the aftermath of …
Twitter makes first interest payment on Musk buyout debt – Bloomberg News
Jan 30 (Reuters) – Twitter Inc has made its first interest payment under Elon Musk after the billionaire took the social media company private last year using about $12.5 billion of debt, Bloomberg News reported on Monday, citing people with knowledge of the matter. Twitter paid a group of seven banks, led by Morgan Stanley, …
UnitedHealth lifts profit outlook as slow elective-care recovery cuts costs
July 15 (Reuters) – UnitedHealth Group Inc (UNH.N) on Friday raised its annual profit forecast for a second straight quarter, as a slow recovery in non-urgent medical procedures and lower COVID-care costs help it rein in medical expenses. Shares of the largest U.S. healthcare company by market value rose 4.5% in morning trade, providing the …
Enjoy Technology, led by ex-Apple and JC Penney executive Johnson, files bankruptcy
June 30 (Reuters) – Enjoy Technology Inc (ENJY.O), a Silicon Valley retailer led by former Apple Inc (AAPL.O) and JC Penney Co executive Ron Johnson, filed for bankruptcy protection on Thursday, fewer than nine months after going public through a special-purpose acquisition company (SPAC). The Palo Alto, California-based startup said it plans to sell its …
Beijing city offers elderly COVID shot-related health insurance to ease hesitancy
People pass by a poster encouraging elderly people to get vaccinated against the coronavirus disease (COVID-19), near a residential compound in Beijing, China March 30, 2022. REUTERS/Tingshu Wang/File Photo Register now for FREE unlimited access to Reuters.com Register BEIJING, May 27 (Reuters) – China’s capital is offering elderly residents state-backed insurance for “medical accidents” linked …
GameStop’s Cohen takes stake in Bed Bath & Beyond, pushes for changes
An exterior view shows a Bed Bath & Beyond store in Novi, Michigan, U.S., January 29, 2021. REUTERS/Emily Elconin Register now for FREE unlimited access to Reuters.com Register March 7 (Reuters) – Billionaire investor Ryan Cohen said on Sunday he now owns nearly 10% of Bed Bath & Beyond (BBBY.O) and wants the housewares retailer …
Former Ghosn deputy set for U.S. return after suspended sentence
Greg Kelly, former executive of Nissan Motor Co., walks in to the Tokyo District Court, in Tokyo, Japan, March 3, 2022. Zhang Xiaoyu/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register TOKYO, March 3 (Reuters) – A Tokyo court on Thursday handed former Nissan Motor executive Greg Kelly a six-month suspended sentence …
