Tag: drops

Wipro Drops Most Since April, Analysts Await Broader Recovery

(Bloomberg) — Shares of Wipro Ltd. slipped the most intraday in six months after its quarterly profit missed estimates, with some analysts saying they want to see more evidence of business recovery under the new leadership.

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The software exporter posted July-September net income of 24.7 billion rupees on Tuesday, down 3.1% on-year and below an estimate of 25.2 billion rupees in a Bloomberg survey. The company also said it will spend as much as 95 billion rupees ($1.3 billion) buying back its shares at 400 rupees each.

Wipro’s stock slumped as much as 6.9% and was the worst performer on the benchmark NSE Nifty 50 Index on Wednesday. Investec, Antique Stock Broking and Spark Capital Advisors were among brokers that downgraded the stock.

“We await further evidence of execution of Wipro’s refreshed strategy and a successful turnaround from its growth struggles over the last decade before turning more

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Dollar index slips but holds near 3-week lows; yuan drops

By Chuck Mikolajczak

New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.

On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.

The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss in six weeks on Friday amid rising hopes a fiscal stimulus package would be agreed to stem

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Dollar index slips but holds near three-week lows; yuan drops

New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.

FILE PHOTO: Chinese yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/File Photo

On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.

The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss

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Billionaire Ken Griffin drops extra $26.7M against Pritzker’s graduated-rate income tax amendment proposal. His total stands at more than $46.7M

Ken Griffin, the billionaire founder and CEO of the Chicago-based Citadel hedge fund and investment firm, put another $26.7 million into the campaign against billionaire Democratic Gov. J.B. Pritzker’s ballot proposal to shift the state from a flat-rate income tax to a graduated tax with rates that increase with income.



Ken Griffin wearing a suit and tie standing in front of a building: Ken Griffin, the founder and CEO of Citadel, in 2014.


© E. Jason Wambsgans/Chicago Tribune/TNS/Chicago Tribune/TNS
Ken Griffin, the founder and CEO of Citadel, in 2014.

With Griffin’s latest investment, he has now given $46.75 million of the approximately $48.1 million million that has been received by the Coalition to Stop the Proposed Tax Hike Amendment. In August, Griffin gave the group $20 million.

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Griffin and Pritzker are the main funding sources of the campaigns for and against the proposal asking voters to change the state’s constitution to replace Illinois’ current flat-rate income tax with a graduated-rate tax. Pritzker, an heir to the Hyatt Hotel fortune, has given

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Singapore Airlines drops ‘flight to nowhere’ idea but will let people eat in an A380

Usually when passengers find themselves sitting on a grounded commercial airplane, reactions range from impatience to downright anger.

But these are not usual times.

That’s one of several activities that Singapore Airlines is launching instead of what media reports have dubbed “flights to nowhere.”

The airline announced this week it was abandoning plans for destination-less flights — which were to take off and land at Singapore’s Changi Airport — in favor of ground-based activities designed to relive the feeling of air travel.

Three new ideas

Singapore Airlines is debuting three activities that replicate elements of flying — but without actually flying anywhere.

On Oct. 24 and 25, the airline will let customers dine inside an A380 double-decker superjumbo “restaurant.” Customers can eat Singapore Airlines dishes while watching movies on the plane’s in-flight entertainment system.

Bookings are $50 Singapore dollars ($37) to dine in economy class, SGD$300 ($220) for business class

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Singapore Airlines drops ‘flight to nowhere’ but will sell onboard meals

Usually when passengers find themselves sitting on a grounded commercial airplane, reactions range from impatience to downright anger. 

But these are not usual times.

That’s one of several activities that Singapore Airlines is launching instead of what media reports have dubbed “flights to nowhere.”

The airline announced this week it was abandoning plans for destination-less flights — which were to take off and land at Singapore’s Changi Airport —  in favor of ground-based activities designed to relive the feeling of air travel. 

Three new ideas

Singapore Airlines is debuting three activities that replicate elements of flying — but without actually flying anywhere. 

On Oct. 24 and 25, the airline will let customers dine inside an A380 double-decker superjumbo “restaurant.” Customers can eat Singapore Airlines dishes while watching movies on the plane’s in-flight entertainment system.

Bookings are $50 Singapore dollars ($37) to dine in economy class, SGD$300 ($220) for business class

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InSites Consulting drops Join the Dots brand name | News

UK – Consumer insight agency Join the Dots has rebranded to Insites Consulting UK, following its acquisition in 2019.

Founded in 1998, Join the Dots has staff in Manchester, New York and Singapore.

InSites Consulting bought the agency in July last year in a deal that created a combined company of 450 staff globally and a geographical presence in five continents.

The company has operated under the name Join the Dots | InSites Consulting since the acquisition.

Andy Cumming, managing director at InSites Consulting UK, said: “Our rebrand to InSites Consulting is an exciting step for our people and great news for our clients. We will continue to offer local, personalised servicing, whilst benefiting from global reach and scale.

“Our goal for InSites Consulting UK is to bring people and platforms together. We can now do this more efficiently thanks to our global consumer networks.”  

Quentin Ashby, formerly chief executive

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Apple drops its App Store fee for events forced online by the pandemic

Apple is waiving the customary 30% fee it charges businesses that sell tickets to online events in the company’s App Store for the rest of the year.

Apple suspended the fee to give businesses affected by the coronavirus pandemic more time to adapt to operating almost entirely online, a spokesman told CNBC. App store developers such as Airbnb, the home-rental company, has expressed interest in holding more events online, the Wall Street Journal reported.

Earlier this week, Apple agreed to exempt Facebook events from the 30% fee. This summer, the social media company introduced paid online events as a way for small businesses to make some money. Facebook said it would not be taking a cut of event fees until August 2021. Apple’s suspension of its 30% fee means that sellers of online events will be able to keep all their earnings, minus taxes. 

Apple expanded the fee suspension on

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BP Drops to 25-Year Low a Week After Unveiling Climate Strategy

(Bloomberg) — Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low.

Chief Executive Officer Bernard Looney and his new management team gave more than 10 hours of presentations over three days last week, in a bid to show the world that the oil and gas giant could adapt to a low-carbon future without sacrificing returns.

BP’s stock closed in London on Thursday at 232.4 pence, the lowest level since October 1995. While falling crude prices and fears of the second wave of the coronavirus didn’t help, the slide suggests shareholders weren’t convinced by Looney’s pitch.

“Investors remain skeptical,” said Mirza Baig, Global Head of Governance at Aviva Investors. “Particularly as this move is being forced on the company by climate change.”



a screenshot of a video game: BP‘s shares closed at the lowest price in 25 years.


© Bloomberg
BP‘s shares closed at the lowest price in 25 years.

Looney

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Cummings candidate for UK ARPA drops out, setting back agency: Source

  • The UK’s plan to create a $1 billion blue-skies innovation agency has been set back after the government’s top candidate to run it dropped out.
  • Renowned Australian computer scientist Michael Nielsen had been lined up to run the agency but dropped out in July or August, one source told Business Insider. Nielsen did not respond to requests for comment.
  • Nielsen, based in San Francisco, felt he would not have enough freedom to run the agency as he wished, the source said.
  • A government spokesman said: “The government continues to progress plans to establish the agency as soon as possible.”
  • Visit Business Insider’s homepage for more stories.

The UK’s efforts to establish a new $1 billion moonshots agency for cutting-edge research have been set back after the top candidate to lead it dropped out of the running.

Renowned Australian quantum physicist and programmer Michael Nielsen was the favored candidate, a source

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