Apple Feels The Forex Pinch, Pepsi Ends Russian Production, Beyond Meat’s COO Arrested And More.. By Benzinga



©Reuters. Top Financial Media Reports Tuesday, September 20: Apple Feels the Forex Pinch, Pepsi Shuts Down Russian Production, Beyond Meat COO Arrested and more..

Reuters

Which recession? AmEx shares ambitious hiring plans as colleagues lay off staff

  • American Express Co (NYSE:NYSE:) shared plans to hire 1,500 people for tech roles to alleviate concerns about the slowdown as its competitors shed jobs and cut spending.
  • The new hires would fill positions such as data scientist, software engineer, and others by the end of the year.
  • AmEx had already hired 3,600 tech workers this year.

PepsiCo (NASDAQ:) is ending production of Pepsi, 7UP in Russia

  • Beverage giant PepsiCo Inc (NASDAQ: PEP) has halted production of Pepsi, 7UP and Mountain Dew in Russia.
  • The end of production comes six months after the company halted its sales and production in the country in response to the Russian invasion of Ukraine.
  • Supermarkets and retailers in Russia are said to have stocks with July and August production dates.

Exxon undecided on auction bid for Guyana Oil Assets despite ramping up production

  • Exxon Mobile Corp (NYSE:NYSE:) has not yet decided whether it will bid for new offshore areas in Guyana as the company ramps up production faster than expected.
  • Exxon has told the government that it will await economic conditions before deciding whether to expand its acreage.
  • An Exxon-led consortium discovered oil in the deep waters off the coast of Guyana, started its first production in 2019, and now controls all production.

rafters Considers divesting minority interests in three Alaskan oil fields

  • Chevron Corporation (NYSE: NYSE:) intends to divest its interest in more than 2,000 oil and gas wells in Alaska, marking its second exit from oil production in the state in 30 years.
  • Bids are due this month and the sale could fetch about $450 million to $550 million.
  • The company is offering stakes in three oil fields. It holds about 10% of the Endicott Field in Alaska, 5% of the Kuparuk Field and 1.2% of Prudhoe Bay.

Kia Mulls EV production by Hyundai in USA

  • The Hyundai Motor Co.,Ltd. (OTC: HYMTF)-owned automaker Kia Corp. is expected to introduce electric vehicles in the US from 2024.
  • The news first appeared on South Korean media Maeil Business Newspaper and TV channel SBS.
  • The Inflation Reduction Act signed by US President Joe Biden last month excluded Hyundai and its subsidiary Kia Corp from subsidies because the companies did not manufacture electric vehicles in the US
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Bloomberg

Jack Dorsey Gets Deposed in Elon Musk Twitter Deal Lawsuit Today: What You Need to Know

  • Twitter Inc (NASDAQ:NYSE:) Co-founder Jack Dorsey is being questioned under oath by the company’s attorneys and Elon Musk via Zoom Tuesday morning.
  • For the uninitiated, Musk and Twitter have legally challenged each other after the CEO of Tesla Inc (NASDAQ:NASDAQ:) decided to pull out of a $44 billion deal to buy the social media platform.

Apple feels forex crisis: Apps and in-app purchases will be more expensive in these regions next month

  • Apple Inc (NASDAQ: NASDAQ:) plans to increase prices for apps and in-app purchases in the App Store in Asian and European countries as early as next month, the company revealed in a notice to developers.
  • Cupertino said the increase applies to Chile, Egypt, Japan, Malaysia, Pakistan, Poland, South Korea, Sweden, Vietnam and any territory using the euro. The changed prices are effective from October 5th.

Meta suffers a setback from EU antitrust law after Google

  • Meta Platforms Inc.’s (NASDAQ:META) Facebook (NASDAQ:) suffered a setback in its lawsuit in a European Union court against a German antitrust decision that called for an overhaul of the social media giant’s business model.
  • According to a non-binding opinion, competition authorities investigating a company for alleged abuse of a dominant position can take other regulations into account, such as the EU General Data Protection Regulation.
  • Alphabet (NASDAQ:) Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google suffered its second setback in Europe in less than a year when the EU’s top court settled with the bloc’s antitrust authorities against a landmark fine against the tech giant for abuse affect some.

Apple is back-to-back with iPhone 14 glitches and looks set to fix the Pro camera issue by next week

  • Apple Inc (NASDAQ: AAPL) has been working on a software update to prevent the iPhone 14 Pro’s rear cameras from shaking when used with some third-party apps.
  • Apple aims to release the update next week, making it at least the second for the iPhone 14.
  • On launch day, Apple asked users to update to iOS 16.0.1 to fix an issue related to FaceTime activation.
  • Apple has also been investigating a bug that can cause the iPhone 14 Pro models to freeze when transferring data from an older iPhone.
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financial times

Another blow to Amazon as marketplace funding dries up

  • Funding for Amazon.com Inc (NASDAQ: NASDAQ:) marketplace sellers dried up as e-commerce growth faltered.
  • In 2021, investors poured over $12 billion into acquisition startups, or aggregators, focused on buying sellers on the Amazon marketplace after changing behavior during the Covid lockdown.
  • Amazon aggregators, or roll-ups, buy sellers who typically conduct the majority of their business through Amazon’s third-party marketplace and aim to bring many brands under one roof.

Uber System Breach culprits are likely the ones behind Microsoft (NASDAQ:), Nvidia, and Okta Hack

  • Uber Technologies, Inc (NYSE:NYSE:) has blamed the Lapsus$ group for its recent hack. The breach had forced Uber to temporarily shut down some internal systems.
  • The perpetrators gained access after receiving credentials from an outside contractor.
  • Uber’s “public” systems, the databases used to store “sensitive” user data, and the software code underlying its app and services were intact.

Goldman Sachs launches transaction banking services in Europe

  • Goldman Sachs Group Inc (NYSE: NYSE:) has launched transaction banking services in Europe specializing in corporate treasury services to diversify beyond its trading and advisory services.
  • The transaction banking platform, known as TxB, provides companies with cash management and treasury services.
  • Wall Street Bank launched operations in the US in 2020, and in 2021 Goldman in the UK has attracted more than 400 customers with $65 billion in deposits.

Wall Street Journal

Richter says yes to $13 billion merger of UnitedHealth and Change Healthcare

  • A U.S. judge on Monday denied the Justice Department’s request to halt UnitedHealth Group Inc’s (NYSE:NYSE:) $13 billion buyout deal for Change Healthcare Inc (NASDAQ:CHNG).
  • The Justice Department filed a lawsuit in February aimed at stopping the acquisition on antitrust grounds.
  • The judge dismissed claims that the deal would unlawfully suppress competition and limit innovation in health insurance markets.
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Amazon is losing key healthcare workers

  • Two Amazon.com, Inc (NASDAQ:AMZN) officials who were instrumental in its healthcare push left the company.
  • TJ Parker and Elliot Cohen, co-founders of prescription drug startup PillPack, will leave Amazon at the end of September.

The COO of Vegan-Friendly Beyond Meat (NASDAQ:) has been arrested for allegedly biting a man on the nose during a parking lot fight

  • Beyond Meat Inc (NASDAQ:BYND) Chief Operating Officer Doug Ramsey allegedly bit a man on the nose and was subsequently arrested on terrorism threat and third degree assault charges.
  • Ramsey, 53, was arrested this weekend after biting a man on the nose after a college football game.

gasoline ga

Elon Musk wants to extend Starlink access to this US-sanctions-hit country: ‘Will ask for an exception’

  • Elon Musk said his private space company SpaceX will seek special permission to provide Starlink internet access to Iran, which is currently facing tough US economic sanctions.
  • The CEO of Tesla Inc (NASDAQ: TSLA) tweeted Monday that Starlink had expanded its presence to every continent, including Antarctica.
  • Erfan Kasraie, a Germany-based Iranian science journalist, responded to Musk’s question about whether it was “technically possible to make Starlink available to the Iranian people,” saying that it would be a “game changer.”

TikTok’s answer to BeReal will be launched in several countries after the US debut

  • TikTok’s answer to BeReal has reportedly appeared as a standalone app in several countries.
  • TikTok Now launched on September 18th in some regions outside of the United States.
  • The data shows that the independent app has appeared in the top 100 iPhone social networking apps in Madagascar, Mozambique, Kenya, Malta and Singapore.

Zendesk privatization deal receives shareholder approval

  • Zendesk Inc (NYSE: ZEN) shareholders approved a proposed $10.2 billion acquisition of the software maker by a group of private equity firms led by Hellman & Friedman and Permira.
  • Zendesk agreed to be taken private in a deal that paid investors $77.50 per share in cash after continued pressure from activist investor Jana Partners.
  • Proxy firm Institutional Shareholder Services (ISS) also backed the deal.

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