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(Reuters) -Hasbro raised its annual revenue and core profit forecasts on Thursday, betting on holiday season sales and demand for its digital gaming segment, even as macroeconomic uncertainties cast a gloom on spending among American shoppers. Shares of the company, which also beat quarterly revenue estimates, were up about 3% in premarket trading. The toymaker's digital titles, including "Magic: The Gathering", helped offset softness in its traditional toy business, which faces pressure from weak consumer demand amid persistent inflation and the Trump administration's volatile trade policy. The company forecast fiscal-year 2025 revenue to grow by high single digits, compared with prior expectations of mid-single-digit rise and adjusted EBITDA – earnings before interest, taxes, depreciation, and amortization – to be between $1.24 billion and $1.26 billion, compared with the $1.17 billion to $1.20 billion range forecast earlier. The toy industry, which relies heavily on its manufacturing hubs in regions including China, has taken a significant hit from U.S. President Donald Trump's sweeping tariffs, with the recent threat of a 100% duty on Chinese goods threatening to further pressurize the industry.  "We managed tariff volatility with agility, protected margins through cost productivity and pricing discipline, and continued to advance our transformation initiatives," Gina Goetter, chief financial officer, said in a statement. The company's quarterly revenue of $1.39 billion beat analysts' average estimate of $1.34 billion, according to data compiled by LSEG. Revenue in its Wizards of the Coast and Digital Gaming segment rose 42%, compared to a 5% decrease a year ago. Peer Mattel, however, posted third-quarter revenue and profit below expectations on Tuesday, as retailers worried about an uncertain economic outlook delayed orders for "Barbie" and other toys, hurting demand for the Hot Wheels owner. (Reporting by Neil J Kanatt and Prerna Bedi in Bengaluru; Editing by Pooja Desai)

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(Reuters) -Tesla said on Thursday it is recalling 63,619 Cybertrucks over software that makes the front parking lights too bright, potentially impairing oncoming drivers' vision. It said an over-the-air software update has been released to the fix the issue at no charge for the Cybertrucks built between November 13, 2023 and October 11, 2025. The Elon Musk-led automaker said it identified the problem during an internal review earlier this month after photometric tests confirmed the excessive brightness. Tesla said it has not received any reports of crashes, injuries, or fatalities related to the issue. On Wednesday, the EV maker also recalled 12,963 Model 3 and Model Y vehicles over a battery-pack component defect that could cause a loss of propulsion and increase crash risk. Earlier this month, the U.S. National Highway Traffic Safety Administration said it was opening an investigation into 2.88 million Tesla vehicles equipped with its Full Self-Driving system after more than 50 reports of traffic-safety violations and a series of crashes. The company reported record third-quarter revenue that beat Wall Street estimates on Wednesday, driven by its highest quarterly EV sales as U.S. buyers rushed to lock in a key tax credit before it expired last month. But Tesla's profit missed analysts' expectations, in part due to tariff and research costs, as well as a decline in income from regulatory credits that are expected to continue fading with recent legislation passed by the Trump administration. Shares of the company were down 3.3% in premarket trading. The stock is up nearly 9% so far this year. (Reporting by Jaspreet Singh and Gnaneshwar Rajan in Bengalur; Editing by Mrigank Dhaniwala, Janane Venkatraman and Tasim Zahid)

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(Reuters) -Shares in SAP were volatile in early trading on Thursday after Europe's largest software maker forecast full-year cloud revenue at the lower end of its outlook range. SAP said it expected cloud revenue for 2025 to be at the lower end of its forecast of 21.6 billion to 21.9 billion euros ($25.2 billion – $25.5 billion). The stock was down around 2% at 0935 GMT, reversing course after rising as much as 3% earlier and tracking a fall in its U.S.-listed shares. "We did not see an 'Oracle moment', but some fears about a weak report looming did not come true either," a local trader said, referring to Oracle's upbeat view on its cloud infrastructure revenue. Some analysts also saw positives in SAP's comments on demand and flagged stronger than expected cloud backlog rising 27% year-on-year. The cloud backlog growth was especially strong given broader concerns of risks to software players caused by artificial intelligence, JPMorgan wrote in a note. SAP briefly became Europe's largest company by market capitalisation in March, but gave up the European crown later in the year in part due to worries that AI will disrupt the software sector. Up to Wednesday's close it was up 0.2% so far this year, following a 70% rise in 2024. Still, it is now the third biggest company by value in Europe, following the chip gear maker ASML and luxury behemoth LVMH. ($1 = 0.8575 euros) (Reporting by Paolo Laudani in Gdansk, Editing by Anna Pruchnicka)

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By Akriti Shah (Reuters) -IBM shares dropped nearly 7% in premarket trading on Thursday after a decline in growth in its core cloud software segment spooked investors over Big Blue's ability to seize the booming demand for cloud services. Sluggish expansion in IBM's cloud business, a unit of its software segment, raised fresh concerns among investors about the company's ability to capitalize on the rapid growth in cloud services driven by AI adoption. The company's sales growth in the hybrid cloud unit – known as Red Hat – decreased to 14% from 16% in the previous quarter. "IBM's software performance and outlook tend to carry more weight than the rest of the business due to the level of earnings contribution and value the business represents," said J.P. Morgan analysts. "This is particularly the case this year as investors anticipate lapping peak mainframe growth rates next year, when meaningful software growth will be needed to maintain healthy growth on a consolidated basis." Investor bets on IBM's cloud business and AI adoption have propelled shares to rise about 30% so far this year. The stock trades at a forward 12-month price-to-earnings ratio of 23.85, compared with 17.95 for rival Accenture. The infrastructure segment, which includes IBM's mainframe business, posted a 17% rise in quarterly revenue to $3.56 billion, which helped the company beat third-quarter sales and profit estimates. The New York-based IT giant raised its full-year revenue growth guidance to over 5% in constant currency and projected its free cash flow outlook to be about $14 billion. Some analysts also pointed the company could engage in mergers and acquisitions to boost its growth. "M&A also remains an underappreciated lever for the company, which given their strong FCF and balance sheet, could be a material catalyst, given they are well on their way to integrate Hashi transaction," Evercore ISI analysts said. Last year, IBM bought HashiCorp in a deal valued at $6.4 billion. (Reporting by Akriti Shah in Bengaluru; Editing by Krishna Chandra Eluri)

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(Reuters) -Shares in U.S. quantum computing firms surged in premarket trading on Thursday after the Wall Street Journal reported President Donald Trump's administration is in talks to take equity stakes in exchange for federal funding. Shares of IONQ, Rigetti, D-Wave Quantum and Quantum Computing surged between 12% and 14% after the report said the companies are in talks about the U.S. government becoming a shareholder as part of the agreements. A U.S. Commerce Department official told Reuters in an email that the department is "not currently negotiating with any of the companies". The Defiance Quantum ETF, which tracks companies whose products or services are tied to the development of quantum computing and machine learning technology, added 2.6%, set to build on its 32% gain so far this year. The Trump administration has ramped up efforts to secure U.S. supply chains for critical minerals and semiconductors by converting federal grants to companies into equity stakes, aimed at reducing reliance on China. The administration has taken or discussed stakes in several companies including Lithium Americas, MP Materials and Intel as part of the shift to direct ownership from traditional subsidies. Quantum computers tap into quantum mechanics to solve problems that would take classical computers thousands of years or more. But existing quantum computers must dedicate so much of their computing power to fixing errors that they are not, on net, faster than classical computers. In February, Microsoft unveiled a new chip that it said showed quantum computing is "years, not decades" away, while IBM in June said it plans to have a practical quantum computer by 2029. (Reporting by Danilo Masoni and Medha Singh; Editing by Amanda Cooper; Editing by Saumyadeb Chakrabarty)

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By Giulia Segreti and Tim Hepher ROME/PARIS (Reuters) -Europe's largest space groups unveiled a preliminary deal on Thursday to join forces in satellite manufacturing and services after months of negotiations to counter the runaway growth of rivals led by Elon Musk's Starlink. The deal between Airbus, Thales and Leonardo will forge a new France-based venture starting from 2027 in the most ambitious tie-up of European aerospace assets since MBDA missiles maker in 2001. French Finance Minister Roland Lescure said the deal would "strengthen European sovereignty in a context of intense global competition". NEW SPACE VENTURE FACES GLOBAL COMPETITION The new combination will employ 25,000 people with revenues of 6.5 billion euros ($7.58 billion), based on 2024 figures. It is expected to generate "mid-triple digit" millions of euros of synergies starting after five years, the companies said, without detailing how these would be achieved. Shareholders now face up to two years of talks with governments, unions and the European Commission over the deal, which has implications for activities in Britain and Germany as well as Italy and France, where the venture will be based. The companies, who have already cut a combined 3,000 jobs in their space businesses, made no mention of further cuts, but executives said the focus would now turn towards potential growth. Code-named "Project Bromo," talks between the three aerospace groups started last year in a bid to copy the co-operation model of European missile maker MBDA, which is owned by Airbus, Leonardo and BAE Systems. Europe's top satellite makers have long competed to build complex spacecraft in geostationary orbit but have been hit by the arrival of cheap tiny satellites in low Earth orbit, notably the proliferating Starlink network built by Musk's SpaceX. Shares in Thales and Leonardo rose more than 2% while Airbus was fractionally higher in early trading. "The initiative is certainly positive, as it creates a European leader capable of competing globally and improves the profitability of a business … that has struggled in recent years," Italian investment bank Equita said in a note. BALANCING PAYMENTS Airbus will hold 35%, while Thales and Leonardo will each hold 32.5%, the companies said, adding the new firm would come under joint control "with a balanced governance structure". Sources familiar with the deal have said those stakes will be adjusted to a third each through balancing payments between shareholders, with Airbus receiving compensation for lowering its initial stake when the deal closes in 2027. The deal will combine activities of Thales Alenia Space and Telespazio – two joint ventures between Leonardo and Thales – as well as various Airbus space and digital businesses, the remaining space activities owned by Leonardo and Thales SESO. Thales CFO Pascal Bouchiat, announcing quarterly sales that included an initial contract for a new European satellite network, hailed the new venture but sounded a cautious note about the scale of competition ahead. "Telecoms activity in space remains under pressure, that's clear. The fact that we had this first development contract for IRIS² doesn't take away the challenges that the European industry, in particular, is facing," he told reporters. Reuters reported earlier this week that the groups had reached a framework deal on the tie-up. Agreement between the three companies – each of which has had periods of prickly relations in the past – was salvaged after sources familiar with the matter said the talks had hit obstacles over governance and valuation during the summer. The trio gave few details of governance but executives pledged to avoid a system of rotating leadership or making appointments based on nationalities which has roiled parts of the European aerospace industry, especially Airbus, in the past. ($1 = 0.8575 euros) (Reporting by Giulia Segreti in Rome and Tim Hepher in Paris;Editing by Alvise Armellini, Sudip Kar-Gupta and Kim Coghill)

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(Reuters) -Swedish telecom operator Telia reported third-quarter core earnings slightly above market expectations on Thursday, driven by profitable service revenue growth and lower operational expenses across most of its markets. Shares of the company rose more than 4% by 0910 GMT, leading gains on the Stockholm blue-chip index. Telia's quarterly adjusted operating profit before depreciation and amortisation rose 4.4% on a like-for-like basis to 8.46 billion Swedish crowns ($898.52 million), a touch above analysts' average forecast of 8.45 billion crowns provided by Telia. Service revenue grew 1% like-for-like driven by continued strong momentum in Sweden and the Baltics, Telia said. It also upgraded its free cash flow forecast to around 8 billion crowns for 2025, from around 7.5 billion crowns previously, and said that it expected full-year capital expenditures to be around 13 billion crowns, versus a previous forecast of below 14 billion. "The revision of the guidance is naturally positive, but it would have been even better if it had come through earnings growth," analyst Joni Grönqvist from research firm Inderes said. Telia reiterated its annual forecast for adjusted EBITDA growth of at least 5% and service revenue growth of around 2%, both on a like-for-like basis. Since presenting a restructuring plan in September 2024, Telia has sold non-core activities, including its TV & Media business, to cut costs and reduce inefficiencies. It also signed a preliminary agreement to divest its Latvian operations. "We have healthy operational momentum in Sweden and the Baltics, and are executing on our plan to strengthen both revenue and overall performance in Norway and Finland," Telia CEO Patrik Hofbauer said in the earnings statement. ($1 = 9.4155 Swedish crowns) (Reporting by Elviira Luoma in Gdansk, editing by Milla Nissi-Prussak and Matt Scuffham)

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(Reuters) -Alphabet's Google has agreed to invest in an instrument that could convert into an equity stake in THG Ingenuity, the demerged arm of British e-commerce firm THG, at a valuation of 750 million pounds ($1.01 billion) or more, Sky News reported on Thursday citing sources. Reuters could not immediately verify the report. ($1 = 0.7451 pounds) (Reporting by Yamini Kalia in Bengaluru; Editing by Krishna Chandra Eluri)

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By Munsif Vengattil and Arpan Chaturvedi BENGALURU (Reuters) -The Indian government has reduced the number of officials who can order content to be taken down from the internet, a move that follows a bitter legal battle with Elon Musk's X that centered around a contentious policy. X, Musk's social media platform, had been in opposition to Prime Minister Narendra Modi's 2023 decision to police the internet by allowing thousands of officials to file takedown orders. In August, Reuters reported that police inspectors were issuing takedown orders on cartoons and satirical posts, sparking one of X's most high-profile legal challenges against a government's content-removal policy. X lost the lawsuit in Karnataka High Court in September, with a judge ruling that its challenge was without merit and X had to abide by local laws. But late on Wednesday, India's IT ministry changed its policy by limiting the number of people who can issue such orders to top bureaucrats and police officials. Now only bureaucrats with the rank of joint secretary or higher and police officials who are serving as deputy inspector general or above can issue takedown orders, the government said in its modification to the rules. "The government is backing down and reducing its earlier powers that extended to many more officials, but the number of officials who can issue orders will still be in the hundreds," said Akash Karmakar, a partner at Indian law firm Panag & Babu who specializes in technology law. The changes are meant to ensure "additional safeguards to ensure senior-level accountability, precise specification of unlawful content and periodic review of government directions at (a) higher level," a government statement said. X did not respond to a request for comment. It previously said it would challenge the Karnataka High Court's ruling. GOVERNMENT BACKING DOWN, 'REASONED INTIMATION' NEEDED In its court challenge, X argued that India's actions were illegal and unconstitutional, adding that they trampled upon free speech by allowing scores of government agencies and thousands of police to suppress legitimate criticism of public officials. India contended that it was attempting to curb a proliferation of illegal content and ensure accountability online. When it changed its rules on Wednesday, the government did not make reference to its legal fight with the social media platform. In July, X's counsel said in court that every "Tom, Dick, and Harry" in India was illegally issuing takedown orders. The change in rules will become effective on November 15. "The process of challenging these takedown orders remains onerous and inverts the burden of proof on the user whose content is taken down, curbing free speech," said Karmakar, the tech-focused lawyer. The new rules also require content takedown orders to be supported by a "reasoned intimation", "clearly specifying the legal basis and statutory provision invoked, the nature of the unlawful act" as well as the website's address. The earlier rules did not contain such requirements. In another layer of scrutiny, the rules also add a requirement that takedown orders shall be "subject to periodic review" by an officer of secretary rank once a month. (Reporting Munsif Vengattil and Arpan Chaturvedi; Editing by Aditya Kalra and Thomas Derpinghaus.)

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ROME (Reuters) -STMicroelectronics announced on Thursday the appointment of two new Italian members of its supervisory board, signalling that Italy and France were moving to settle their differences over the chip maker's governance. The group, in which the French and Italian governments indirectly own a combined 27.5% stake, has battled an industry-wide sales slump since the end of the COVID-19 pandemic, hit by low demand, high inventories, and geopolitical disruption. Veteran ambassador Armando Varricchio and former STMicro executive Orio Bellezza will replace Maurizio Tamagnini and Paolo Visca on the board, the company said in a statement. The appointments will be subject to shareholders' approval at a meeting set for December 18, it added. Italy and France clashed in April, when STMicroelectronics rejected a previous Italian candidate for the board, former senior Treasury official Marcello Sala. That month, Italian Economy Minister Giancarlo Giorgetti said his government's attitude toward STMicroelectronics CEO Jean-Marc Chery was one of "criticism and opposition". Relations have improved since, and all parties are trying to iron out tension to cooperate on a relaunch of the company, a source familiar with the matter said, speaking on condition of anonymity. In a first sign of efforts to settle the dispute, STMicroelectronics pledged last month not to slash jobs in Italy, committing to a plan for voluntary departures with trade unions. According to the source, the Egon Zender consultancy is likely to be picked to screen potential candidates for the CEO position, replacing Chery, whose term expires in 2027. (Reporting by Giuseppe Fonte; Editing by Alvise Armellini and Clarence Fernandez)

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