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Bengaluru Editing Business documentary Exchange Commission Sruthi Ramakrishnan 

SeaWorld subpoenaed on disclosures about ‘Blackfish’ impact, trading

June 23, 2017 (Reuters) – SeaWorld Entertainment Inc said on Friday it received a subpoena from the U.S. Department of Justice in connection with an investigation over disclosures made about the impact of the “Blackfish” documentary and trading in the company’s securities. The investigation relates to the disclosures and public statements made by the company, certain executives and individuals on or before August 2014, the company said. “Blackfish”, which was released in 2013, led to widespread criticism of the marine park operator as the documentary depicted the captivity and public…

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American Airlines Bengaluru Editing Business Rachit Vats Thursday Qatar Airways 

American Airlines says Qatar Airways interested in buying 10 percent stake

June 22, 2017 (Reuters) – American Airlines Group Inc said on Thursday that Qatar Airways, the Gulf country’s state-owned airline, had expressed interest in buying a 10 percent stake worth at least $808 million in the No.1 U.S. airline. Shares of American Airlines rose 5.5 percent to $51.08 in premarket trading. The news comes just weeks after Qatar was engulfed in a diplomatic row with neighbor Saudi Arabia, which led other nations including Egypt, the United Arab Emirates and Bahrain in cutting ties with Doha. Qatar Airways indicated that it…

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Bengaluru Editing Business results 

Oracle profit beats as cloud shift gains steam, shares at record

June 21, 2017 (Reuters) – Oracle Corp’s quarterly profit blew past Wall Street estimates and the business software maker forecast an upbeat current-quarter earnings, indicating that the company’s transition to cloud is starting to pay off. The company’s shares were up 10.6 percent to a record high of $51.25 in after-market trading on Wednesday. They had gained about 20 percent this year. A late entrant to the cloud market, Oracle has been doubling down on efforts to bolster its cloud-based services as customers increasingly shun the costlier licensing model. As…

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Bengaluru Editing Business New York Times NYT Subrat Patnaik 

Uber co-founder Travis Kalanick resigns as chief executive: NYT

June 21, 2017 (Reuters) – Uber Technologies Inc co-founder Travis Kalanick stepped down as chief executive of the ride-hailing service, following intense pressure from investors, the New York Times reported on Wednesday. Five large investors, including venture capital firm Benchmark, demanded that the CEO resign immediately in a letter delivered to Kalanick while he was in Chicago, the paper reported citing people with knowledge of the situation. http://nyti.ms/2soTB79 Kalanick’s move comes after a months-long investigation led former U.S. Attorney General Eric Holder, who was hired by Uber to look into…

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Bengaluru Editing DNA IPO singapore Tech Top News 

Genealogy website Ancestry.com files for confidential IPO

June 20, 2017 (Reuters) – Genealogy website Ancestry.com Inc on Monday said it had confidentially submitted a draft registration statement on a proposed initial public offering (IPO) to the U.S. Securities and Exchange Commission. The Lehi, Utah-based company did not disclose the number of shares to be offered and the price range for the proposed offering. The website helps people discover their history by tracing their family generations. It also provides personal DNA testing. Last May, Ancestry.com said in a statement that U.S. private equity fund Silver Lake and Singapore’s…

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Bengaluru Editing Business debt offer Sruthi Ramakrishnan 

Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world

June 16, 2017 By Lauren Hirsch and Jeffrey Dastin (Reuters) – Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling U.S. retail industry. Amazon used aggressive pricing to become an e-commerce retail juggernaut and has recently been experimenting with brick-and-mortar outlets. It will take over a natural and organic grocer pioneer with 456 stores, a mecca for young, high-end shoppers, that has been…

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Bengaluru Editing Business fact increase Siddharth Cavale 

Wal-Mart may beat Amazon’s sales growth in back-to-school season: NPD

June 15, 2017 By Gayathree Ganesan (Reuters) – Wal-Mart Stores Inc’s online sales is likely to grow double than Amazon.com Inc during the back-to-school season, helped by the Jet.com acquisition and competitive price offerings, industry research body NPD said. An aggressive pricing and marketing strategy, coupled with the fact that Amazon’s business has reached maturity in back-to-school sales, will see Wal-Mart winning the online retail tussle this back-to-school season, NPD Chief Analyst Marshal Cohen told Reuters. “With Wal-Mart’s new Jet.com investment, I would suspect that Wal-Mart is going to basically…

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Bengaluru Editing Business President Donald Trump rates Yashaswini Swamynathan 

Wall St. opens lower as tech stocks weigh

June 15, 2017 (Reuters) – U.S. stocks opened lower on Thursday, with technology stocks leading a broad decline. The Dow Jones industrial average was down 80.5 points, or 0.38 percent, at 21,294.06, the S&P 500 was down 14.98 points, or 0.614458 percent, at 2,422.94 and the Nasdaq composite was down 60.89 points, or 0.98 percent, at 6,134.00. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva) Powered by WPeMatico

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Amazon Bloomberg Bengaluru Editing Business San Francisco-based Slack Tech Top News 

Messaging startup Slack said to draw interest from Amazon: Bloomberg

June 15, 2017 (Reuters) – Slack Technologies Inc, a corporate messaging and collaboration software startup, has received inquiries about a potential takeover from technology companies including Amazon.com Inc, Bloomberg reported on Thursday. A deal could value the company at at least $9 billion, Bloomberg reported citing people with knowledge of the matter. https://bloom.bg/2s3CqrD Slack is a platform where employees can send messages, collaborate, organize and share files. The technology also integrates with a wide variety of business software – such as Salesforce.com Inc and Microsoft Corp’s Skype – so employees…

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bank Bengaluru Editing Business rates Sruthi Shankar 

Stock futures up as tech stocks recover; Fed meeting in focus

June 13, 2017 By Sruthi Shankar (Reuters) – U.S. stock index futures were slightly higher on Tuesday as technology shares staged a recovery after a two-day rout, while investors awaited the Federal Reserve to kick off its meeting, where its is almost certain to raise interest rates. Traders have priced in a 94 percent chance of the Fed raising interest rates. Investors are also looking for more details on the central bank’s plans to trim its $4.5 trillion balance sheet. The Fed is expected to release its decision at 2:00…

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