Amazon Halts Delivery Bots; Merck's Covid-19 Pill Didn't Reduce Risk; Samsung Profits Slip; Adidas Reviews Relationship With Kanye: Top Stories Friday, Oct. 7

Amazon Halts Delivery Bots; Merck’s Covid-19 Pill Didn’t Reduce Risk; Samsung Profits Slip; Adidas Reviews Relationship With Kanye: Top Stories Friday, Oct. 7

Benzinga

Credit Suisse Floats Plan For $3B Debt Buyback

Trending: New Book Shows Donald Trump Treated White House Like Movie Or TV Gig: ‘Before I Did The Presidency’ – Dig

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Credit Suisse Group AG (NYSE: CS) has offered to buy back its debt securities worth about $3 billion in the backdrop of concerns about the Swiss bank’s financial health, which had dragged its share price and led to an increase in bets against its debt. Credit Suisse’s shares had briefly hit an all-time low on Monday, while its credit default swaps hit a record high in the backdrop of the market’s concerns over the bank’s future.

Key Apple Supplier Clocks 48% Sales Growth In Q3

Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) reported a September revenue growth of 36.4% year-on-year to NT$208.25 billion. Revenue for January through September 2022 totaled NT$1.64 trillion, up 42.6% Y/Y. Revenue for the third quarter grew 48% Y/Y to NT$613 billion ($19.4 billion), above the consensus of NT$603 billion. Apple Inc’s (NASDAQ: AAPL) most crucial chipmaker signals that the most prominent players in the $550 billion semiconductor industry may bypass the downturn helped by resilient demand for electronics products.

Samsung Shares Slide As Much As 2% On Bleak Q3 Profit View

Samsung Electronics Co Ltd. (OTC: SSLNF) reported earnings guidance for the third quarter, with the consolidated operating profit likely dropping nearly 32% to 10.8 trillion won compared to last year. This is the first profit drop reported by the company since 2019. Consolidated sales are estimated at approximately 76 trillion won, slightly higher than the 73.98 trillion won registered a year earlier.

Google Opens Data Center In Japan

Alphabet Inc.’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google will open its first data center in Japan next year. The new facility, based in Inzai City, Chiba, will accelerate the operation of Google tools and services and support economic activity and jobs. The Chiba data center is part of a $730 million investment in infrastructure that began in 2021 and will continue through 2024. That includes the Topaz subsea cable, likely to be ready for service in 2023.

Spotify Weeds Out 11 Original Podcasts; Downsizes Staff By 5%

Spotify Technology S.A. (NYSE: SPOT) pulled 11 original podcasts from the platform. It will impact studios Parcast and Gimlet and involve less than 5% layoffs from Spotify’s podcast staff. Spotify appears to be weeding out the failures, possibly making room for the several upcoming O&E titles the company intends to announce in the weeks and months ahead.

UK Study: Merck’s COVID-19 Antiviral Pill Did Not Cut Hospitalization Risk

Merck & Co Inc. (NYSE: MRK) and Ridgeback Biotherapeutics announced data from two real-world evidence studies evaluating Lagevrio (molnupiravir), an investigational oral antiviral COVID-19 medicine. According to the results of a pivotal clinical trial in the UK, Merck’s COVID-19 antiviral pill failed to show it can lower the risks of hospitalization and death among adults at higher risk from the disease. 

Telenor Divests 30% Of Norway Fiber Company for $1B

Telenor ASA (OTC: TELNF) (OTC: TELNY) agreed to divest a minority stake in its Norway fiber assets to a consortium led by KKR & Co Inc (NYSE: KKR) and Oslo Pensjonsforsikring for 10.8 billion kroner ($1 billion). The deal is part of a strategy by Norway’s biggest telecommunications company to highlight the value of its infrastructure and free up capital to lay down more fiber in the country.

British Fashion Retailer Superdry Returns To Profit; Emphasizes Refinancing Needs

British fashion group Superdry ADR (OTC: SEPGY) has returned to profit in the fiscal year 2022, with an adjusted profit before tax of £21.9 million versus a loss of £(12.6) million in FY21. Total revenue increased 9.6% to £609.6 million year-on-year due to lapping enforced store closures and lifting restrictions in key markets.

Wall Street Journal

Amid FDA Dispute, Juul Labs Cancels Overseas Expansion Plans

Juul Labs Inc. is taking all necessary steps to stay afloat, CEO K.C. Crosthwaite says. Altria Group Inc (NYSE: MO) has a minority stake in the company. Juul expects lay offs after scrapping expansion plans outside the U.S. It has also refinanced its secured debt, giving it more time to explore more long-term options, the CEO added.

Reuters

Amazon Will Halt Live Tests Of ‘Scout’ Delivery Bots

Amazon.com Inc (NASDAQ: AMZN) has reportedly halted the live testing of its automated delivery robot “Amazon Scout.” The e-commerce giant found that the program failed to meet customer needs. An Amazon spokesperson told the newswire it was “reorienting” the program instead of complete abandonment, and workers would be matched to other open roles at the company.

EU Asks: Will Microsoft Block Peers Following Activision Deal?

EU antitrust regulators grilled game developers about whether Microsoft Corp (NASDAQ: MSFT) will be incentivized to block rivals’ access to “Call of Duty” maker Activision Blizzard Inc. (NASDAQ: ATVI) best-selling games. The EU competition enforcer also asked if Activision’s trove of user data would give Microsoft a competitive advantage in developing, publishing, and distributing computer and console games. EU antitrust regulators are due to make a preliminary decision by November 8 on whether to clear Microsoft’s proposed $69 billion acquisition.

Toyota Fears Information Leak From Its Telematics Service

Toyota Motor Corp (NYSE: TM) fears that about 296,000 pieces of customer information from its T-Connect service might have been leaked. The affected customers are individuals who signed up to the service’s website using their email addresses since July 2017. Toyota denied any possibility of a leak in users’ sensitive personal information.

Walmart To Let Go More Than 1,000 Employees In Atlanta

As per a Worker Adjustment and Retraining Notification, Walmart Inc. (NYSE: WMT) looks to lay off 1,458 workers at the e-commerce fulfillment center in Fulton Parkway in Atlanta, Georgia. “We’re converting the fulfillment center on Fulton Parkway to support our growing WFS (Walmart Fulfillment Services) business.

CNBC

Adidas Holds Kanye West Tie Under Review

Adidas AG (OTC: ADDYY) is reviewing its relationship with rapper Kanye West following recent issues when the rapper publicly accused Adidas CEO of not providing him control over Yeezy. Adidas announced its partnership with West in 2013. West also agreed in 2016 to manufacture and distribute items from his Yeezy clothing line. In September, West terminated Yeezy’s partnership with Gap Inc (NYSE: GPS).

NEWS RELATED

Samsung plans to invest Rs 400 crore at its Tamil Nadu Facility

ETtechSamsung plans to invest Rs 400 crore to start manufacturing 5G and 4G radio equipment at its facility in Tamil Nadu, an official aware of the plan told ET.Samsung is the latest global gear maker to come on board the government’s telecom equipment production-linked incentive (PLI) scheme and this will ...

View more: Samsung plans to invest Rs 400 crore at its Tamil Nadu Facility

Cordless Vacuum Black Friday Deals: Dyson, Shark and Samsung

If you’ve been waiting to upgrade your vacuum, there is no better time than during the annual Best Buy Black Friday deals. Today is the best day of the year to get all of the best cordless vacuum deals, giving you the chance to save big on one of the ...

View more: Cordless Vacuum Black Friday Deals: Dyson, Shark and Samsung

The best deals for the home are in now! Amazon’s Black Friday sale has HUGE discounts on Samsung, Keurig, De'Longhi, Mikasa, Cuisinart, and more - but hurry, as these reduced prices won't last for long

SHOPPING: Products featured in this Mail Best article are independently selected by our shopping writers. If you make a purchase using links on this page, DailyMail.com will earn an affiliate commission. There’s never a better time of year to pick up home essentials than Black Friday. It’s one of the ...

View more: The best deals for the home are in now! Amazon’s Black Friday sale has HUGE discounts on Samsung, Keurig, De'Longhi, Mikasa, Cuisinart, and more - but hurry, as these reduced prices won't last for long

Apple iPhone 14 Pro effect: Samsung tipped to launch Galaxy S23 series with satellite connectivity

Samsung Galaxy S23 family which might include three models namely Galaxy S23+, Galaxy S23 Ultra and Galaxy S23 will reportedly bring satellite communication functions. Samsung seems all set to be following in the footsteps of Apple yet again, as apparently Samsung Galaxy S23 family which might include three models ...

View more: Apple iPhone 14 Pro effect: Samsung tipped to launch Galaxy S23 series with satellite connectivity

Best Buy Black Friday Sale: Shop The Best Tech Deals from Samsung, Apple, LG and More

Each product has been independently selected by our editorial team. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Basically a holiday in itself, Black Friday is here! Best Buy is celebrating the holiday season with a Black Friday sale on ...

View more: Best Buy Black Friday Sale: Shop The Best Tech Deals from Samsung, Apple, LG and More

Daily Deal: Grab the Galaxy Buds 2 at this special Black Friday price

Black Friday 2022 brings a lot of great deals on Samsung products. If you’ve made up your mind about buying a pair of wireless earbuds, then you should definitely consider the Galaxy Buds 2. These are among the best wireless earbuds from Samsung. The Galaxy Buds 2 offer enhanced ...

View more: Daily Deal: Grab the Galaxy Buds 2 at this special Black Friday price

Update Harga HP Samsung, Xiaomi, Oppo Harga Rp 3 Jutaan November 2022:Galaxy M33 hingga Mi 11 Lite

TRIBUNPALU.COM � Inilah daftar harga HP kisaran Rp 3 Jutaan terbaru akhir November 2022. Melalui artikel ini, TribunPalu menginformasikan daftar ahrga HP kisaran Rp 3 Jutaan dari Samsung, Oppo hingga Xiaomi. Di kisaran harga Rp 3 Jutaan, ketiga merk ponsel tersebut menawarkan berbagai seri yang bisa menjadi referensi untuk Anda. ...

View more: Update Harga HP Samsung, Xiaomi, Oppo Harga Rp 3 Jutaan November 2022:Galaxy M33 hingga Mi 11 Lite

Samsung to invest Rs 400 crore in Tamil Nadu unit

APSamsung plans to invest ₹400 crore to start manufacturing 5G and 4G radio equipment at its facility in Tamil Nadu, an official informed ET.Samsung is the latest global gear maker to come on board the government’s telecom equipment production-linked incentive (PLI) scheme and this will be its first such investment ...

View more: Samsung to invest Rs 400 crore in Tamil Nadu unit

Samsung Galaxy S23 series rumoured to offer satellite connectivity after the iPhone 14 series

Year-end Samsung Galaxy tablet buyer’s guide

Google Project Zero Finds OEMs Have Not Patched Major Vulnerability

Cheap Galaxy Z Flip 4 deal means you can avoid making the same mistake as me

Here Are The TOP 9 Customer Satisfaction Smartphone Brands

Samsung’s 49-inch Odyssey Neo G9 monitor is $800 off for Black Friday

Here are the best Black Friday deals on Samsung phones, watches, and more

There’s a huge Samsung Frame TV Black Friday sale happening now

Samsung Galaxy S22 vs. Galaxy S21 FE: How to Decide

Get a Samsung 980 Pro NVMe SSD $200 cheaper for Black Friday

OLED TV Black Friday deals: LG, Samsung, and Sony

Samsung might follow Huawei and Apple to include Satellite Communications on its upcoming Galaxy S23

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