(Reuters) -Oracle said on Thursday it expects cloud infrastructure revenue to be $166 billion in fiscal 2030. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Vijay Kishore)
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By Suzanne McGee and Ateev Bhandari (Reuters) -The U.S. Securities and Exchange Commission told Reuters that it was "unclear" whether the dozens of recent filings by asset managers to issue highly leveraged ETFs would be approved by the agency. Since the U.S. government shutdown began, "the agency has received a large number of registration statements for ETFs seeking to offer 3x and 5x leveraged, equity-linked exposure," said Brian Daly, director of the SEC's division of investment management. "It is unclear whether these ETFs would comply with the Derivatives Rule (Rule 18f-4), which generally limits leverage to 2x." On Wednesday, ETF issuer Volatility Shares filed to launch a total of 27 highly leveraged ETFs, including the first-ever proposed 5x ETF for the U.S. market, in a move that raised eyebrows amid widespread concerns over inflated asset prices. A 5x target means that an ETF would seek to quintuple the daily return of an underlying single stock. Until now, the SEC has approved single-stock leveraged ETFs with a maximum of 2x. The SEC's response comes as a partisan shutdown in Washington has forced the agency to function on skeletal staffing, limiting its ability to review corporate filings, investigate misconduct, and oversee markets. "It is reassuring to see that, despite the shutdown, the SEC continues to monitor new ETF filings and take note of those that could be potentially problematic for retail investors and for the ETF industry as a whole," said Amrita Nandakumar, president of Vident Asset Management, a firm that works with ETF issuers. A concentration of investor assets into leveraged ETFs has fueled caution across the market, highlighted by last week's broad-based selloff after U.S. President Donald Trump escalated the trade war against China. While such leveraged ETFs are designed to amplify the return of the underlying stock or index, a fall in the price of the indexed asset can force liquidations. "Of those launched more than three years ago, over half have closed and 17% have lost over 98% of their value over their lives," said Bryan Armour, ETF analyst at Morningstar, referring to the dangers of leveraged ETFs. A JPMorgan report estimated that some $26 billion of selling from leveraged ETFs at Friday's close exacerbated the downward spiral. A Reuters analysis of SEC filings found that Volatility, whose filings included a 3x and a 5x offering on bitcoin treasury pioneer Strategy, proposed its filings to go effective 75 days after submitting. "This SEC administration has been more amenable to new strategies coming to market, but 5x leveraged single-stock ETFs will test those limits," Armour added. SEC staff will not be able to review the new filings until after the shutdown is over, the agency's Daly added. Volatility did not immediately respond to a Reuters request for comment. (Reporting by Suzanne McGee; Editing by Mark Porter and Philippa Fletcher)
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SINGAPORE (Reuters) -Singapore will introduce a new online safety commission with powers to order social media platforms to block harmful posts, according to a new bill that was tabled in parliament on Wednesday. The new law comes after researchers from the Infocomm Media Development Authority found in February that more than half of legitimate user complaints about harmful posts relating to issues like child abuse and cyber-bullying had not been immediately addressed. The new commission will be empowered under a new law to address local user reports of harms like online harassment, doxxing, online stalking, the abuse of intimate images and child pornography by the end of the first half of 2026. It will also have powers to direct social media platforms to restrict access to harmful material within Singapore, give victims a right to reply, and ban perpetrators from accessing their platform. The commission will also be able to order internet service providers to block access to specific online locations, such as group pages or even a social media platform's website. More harms, including the non-consensual disclosure of private information and "the incitement of enmity", will be introduced over stages following the initial launch. The new commission will be set up under a new online safety bill that was introduced to lawmakers on Wednesday. It will be debated at the next available session of parliament. The setting up of an online safety commission was first mooted during the Ministry of Digital Development and Information's budget debate in March this year. "More often than not, platforms fail to take action to remove genuinely harmful content reported to them by victims,” said Josephine Teo, Minister for Digital Development and Information. The government recently targeted Meta with the first order issued under the nation's new Online Criminal Harms Act, which came into force in February 2024. In September, the home affairs ministry threatened Meta with a fine of up to S$1 million ($771,664) and fines of up to S$100,000 per day after the end of the month if it failed to introduce measures like facial recognition to curb impersonation scams on its social network Facebook. The home affairs ministry could not immediately be reached to confirm if Meta complied with the order. ($1 = 1.2959 Singapore dollars) (Reporting by Jun Yuan Yong; Editing by David Stanway)
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(Reuters) -Electronic Arts' "Battlefield 6" has hit all-time highs for franchise sales during the first three days of its launch, selling over seven million copies, the video game publisher said on Thursday. EA was betting on the latest "Battlefield" title to restore the franchise's reputation and loosen the dominance of "Call of Duty," published by Microsoft-owned Activision Blizzard, in the first-person shooter genre. "Battlefield 6" was launched on October 10, weeks after EA agreed to a $55 billion sale to a Saudi-backed investor group in a deal fueled by its prized gaming portfolio. The game had over 172 million matches played online and accumulated over 15 million hours watched on streaming services over the three-day weekend, EA said in a statement. It recorded the highest number of concurrent players ever for "Battlefield." "Battlefield 6's" Season 1 will be released on October 28. Seasonal content will be rolled out regularly, with the next two phases of the season arriving later this year. EA's other shooter games such as "Apex Legends," "Titanfall" and "Star Wars Battlefront" have lost steam, forcing it to rely on one of its best-known franchises to attract consumers who are sticking with proven titles amid tariff-led economic worries. (Reporting by Juby Babu in Mexico City; Editing by Shreya Biswas)
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(Reuters) -Electronic Arts' "Battlefield 6" has hit all-time highs for franchise sales during the first three days of its launch, selling over seven million copies, the video game publisher said on Thursday. EA was betting on the latest "Battlefield" title to restore the franchise's reputation and loosen the dominance of "Call of Duty," published by Microsoft-owned Activision Blizzard, in the first-person shooter genre. "Battlefield 6" was launched on October 10, weeks after EA agreed to a $55 billion sale to a Saudi-backed investor group in a deal fueled by its prized gaming portfolio. The game had over 172 million matches played online and accumulated over 15 million hours watched on streaming services over the three-day weekend, EA said in a statement. It recorded the highest number of concurrent players ever for "Battlefield." "Battlefield 6's" Season 1 will be released on October 28. Seasonal content will be rolled out regularly, with the next two phases of the season arriving later this year. EA's other shooter games such as "Apex Legends," "Titanfall" and "Star Wars Battlefront" have lost steam, forcing it to rely on one of its best-known franchises to attract consumers who are sticking with proven titles amid tariff-led economic worries. (Reporting by Juby Babu in Mexico City; Editing by Shreya Biswas)
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By David Shepardson and Alexandra Alper WASHINGTON (Reuters) -The chair of the House Select Committee on China said Thursday that a licensing agreement for use of the TikTok algorithm as part of a deal by Chinese-based ByteDance to sell U.S. assets of the short video app would raise "serious concerns." Representative John Moolenaar, a Republican, is waiting for a briefing to get more details on the deal that White House officials said previously would include the new owners of TikTok's U.S. assets licensing the algorithm. "I think anytime you have (China) with leverage over the algorithm, I think that's a problem," Moolenaar said at a forum. TikTok did not immediately comment. President Donald Trump signed an executive order on September 25 declaring the plan to sell TikTok's U.S. operations to a consortium of U.S. and global investors meets the national security requirements set out in a 2024 law and gave them 120 days to complete the transaction. "I just believe you have to have a new algorithm, and I don't know that you can reprogram," Moolenaar added, pointing to technology experts saying that it is unclear precisely what is in the algorithm. "I would say it's still very much a work in progress." Trump last month delayed until January 20 enforcement of the law banning the app used by 170 million Americans unless its Chinese owners sell it. Trump's order says the algorithm will be retrained and monitored by the U.S. company's security partners, and operation of the algorithm will be under the control of the new joint venture. The agreement on TikTok’s U.S. operations includes the appointment by ByteDance of one of seven board members for the new entity, with Americans holding the other six seats. ByteDance would hold less than 20% in TikTok U.S. to comply with requirements set out in the 2024 law that ordered it shut down by January 2025 if ByteDance did not sell its U.S. assets. (Reporting by David Shepardson and Alexandra Alper, Editing by Franklin Paul)
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(Crrects paragraph 5 in October 15 story to say BlackRock-Preqin deal was valued at $3.2 billion, not $3.5 billion) (Reuters) -S&P Global has agreed to buy private markets data provider With Intelligence, the company said on Wednesday, as it looks to expand its products for the fast-growing segment of financial services. Private markets are seeing increased investor interest as years of higher interest rates and muted exits have pressured private valuations at a time when industry executives are concerned about asset price bubbles in public markets. Insights into pricing and comparables for private assets have become valuable because of the historical opacity around such investments. The trend has drawn BlackRock, with the world's largest asset manager spending $12.5 billion to buy Global Infrastructure Partners last year. It also spent $3.2 billion for private markets data provider Preqin in February and $12 billion for private credit firm HPS Investment Partners in July. Private markets also received a boost from U.S. President Donald Trump's executive order in August, aiming to ease access to nontraditional assets like private equity and private credit in 401(k) plans. Founded in 1998, With provides data and analytics for alternative and private markets to around 3,000 customers globally. It is expected to generate around $130 million in revenue in 2025, with annual contract value growth expected in the high teens. The deal is set to close in 2025, or early 2026, and is expected to be add to the company's adjusted profit per share in 2027, S&P Global said. Citi advised S&P Global, while Centerview Partners was the financial advisor for With. (Reporting by Ateev Bhandari in Bengaluru; Editing by Arun Koyyur)
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VIDEO SHOWS: MILAN-CORTINA ORGANISERS GIVING INITIAL DETAILS OF WINTER OLYMPICS OPENING CEREMONY DURING PRESS CONFERENCE AT SAN SIRO STADIUM / FILE FOOTAGE OF STADIUM EXTERIORS / FILE FOOTAGE OF DRONE VIEWS OF CORTINA TEMPLATE ONLY, COMPLETE SCRIPT TO FOLLOW
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By Alexander Marrow AMSTERDAM (Reuters) -Nestle's new CEO Philipp Navratil has started with a bang, announcing 16,000 job cuts and a portfolio review that could see brands sold or partnered off as the world's largest packaged food company looks to focus on fast-growing areas. Nestle's shares leapt 9.3% on Thursday, the biggest daily rise since 2007, as investors welcomed the plans after a period of management turmoil for the KitKat-to-Nescafe maker that saw both the CEO and chairman depart in a month. CEO Laurent Freixe was fired over an office relationship, with Chairman Paul Bulcke stepping down shortly after to make way for former Inditex chief Pablo Isla. STRUGGLING UNITS: TO FIX, PARTNER, OR SELL? Navratil is looking to sharpen the company's focus that could put parts of an empire that spans vitamins, pet food, coffee, confectionery, bottled water and more on the chopping block. "I will consistently review every part of our portfolio with an open mind," Navratil said alongside third-quarter results, adding this meant looking at whether brands are growing, the returns are attractive and if Nestle is the market leader. "If our assessment concludes that one or … (another) business does not meet the criteria I described, we will act, whether that means fixing, partnering or selling." NESTLE: A $245 BILLION MARKET CAP FOOD GIANT Nestle, with a market value of about $245 billion, competes with the likes of Unilever, P&G, Kraft Heinz, PepsiCo and Danone. Coffee brands Nescafe and Nespresso form a key part of Nestle's top business unit, Powdered & Liquid Beverages, which accounted for 18.4 billion Swiss francs ($23.1 billion), or almost 28%, of sales for January-September. PetCare, with brands such as Felix and Purina, had 13.6 billion francs of sales in that period and led on real internal growth, a measure of sales volume that Nestle uses. NESTLE REVIEWING CERTAIN UNITS, BRANDS FOR POTENTIAL SALE Nutrition & Health Science includes Nestle's Vitamins, Minerals and Supplements (VMS) division. In VMS, premium brands grew strongly in the nine months, but a weaker performance across some mainstream brands offset that. Nestle is reviewing low-growth, low-margin VMS brands like Nature's Bounty, Puritan's Pride and Osteo Bi-Flex that together generate around 1 billion francs in annual sales. It is also reassessing its Water business, which includes Sanpellegrino and Vittel, accounting for under 4% of total sales. KitKat is Nestle's stand-out Confectionery performer and in Prepared Dishes and Cooking Aids, it's Maggi seasoning. ($1 = 0.7957 Swiss francs) (Reporting by Alexander Marrow in Amsterdam. Editing by Adam Jourdan and Mark Potter)
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(Reuters) -Apple and Comcast's NBCUniversal will launch a bundle of Apple TV and Peacock Premium streaming services next week, the companies said on Thursday, combining award-winning originals such as "Ted Lasso" and "The Traitors" for $14.99 a month. The bundle, which launches on Monday, offers U.S. customers more than 30% savings and the option to combine Apple TV with Peacock Premium Plus for $19.99 per month. Media companies are unlocking more value from their streaming content by teaming up with rival platforms, providing customers with discounted pricing and a larger library of shows and movies. "With this first-of-its-kind initiative with Apple, we're redefining what the customer journey should be for a streaming bundle with rich sampling and a smooth sign-up process, and we're broadening the reach of Peacock to even more audiences," said Matt Strauss, chairman, NBCUniversal Media Group. As part of the deal, Apple TV app users and Peacock subscribers will be able to sample a curated selection of the partner service's shows, including marquee live events and sports, popular franchises, and blockbuster movies, in their respective apps. At launch, Peacock subscribers will have access to three episodes of "Stick", "Slow Horses", "Silo", "The Buccaneers", "Foundation", "Palm Royale" and "Prehistoric Planet" from Apple TV for free. Apple TV app users will be able to watch up to three episodes of "Law & Order", "Bel-Air", "Twisted Metal", "Love Island Games", Happy's Place, "The Hunting Party" and "Real Housewives of Miami" from Peacock. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shailesh Kuber)
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