JULY SARL/CAEN - CybAI news

08 Aug

Kakao Founder Charged With Stock Manipulation in Landmark Case

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South Korean prosecutors have indicted Kakao Corp. founder Brian Kim on charges of stock manipulation, kicking off a watershed case that’s transfixed South Korea’s young internet industry.Prosecutors formally charged the entrepreneur with market violations during his company’s takeover battle for SM Entertainment Co., Yonhap news service reportedBloomberg Terminal Thursday. Kim was allegedly involved with an attempt to buy and push SM stock above a rival offer of 120,000 won ($87) from BTS-agency Hybe Co., the agency reported. Executives carried out that alleged maneuver over a total of four days, in mid-February 2023 as well as later that month, Yonhap said,…

07 Aug

Airbnb Gives Soft Outlook on ‘Signs of Slowing Demand’ From US

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Airbnb Inc. shares plunged by the most ever after the company issued yet another disappointing outlook and warned of slowing demand from US vacationers.Bookings rose 8.7% in the second quarter to 125.1 million, falling well below analysts’ estimates. And Airbnb saidBloomberg Terminal it expects “sequential moderation” of growth in bookings in the third quarter, too, signaling that results will disappoint analysts who had projected an 11% gain amid the peak summer travel season. Source link lol

07 Aug

Disney Tops Views With First Streaming Profit; Parks Disappoint

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Walt Disney Co. gave a mixed picture as it reported third-quarter results on Wednesday, with weakness at its famed theme parks offsetting its first-ever profit in streaming. Disney’s US theme parks, which were buffeted by rising costs and tepid demand, missed Wall Street estimates for sales and profit. The company said its Disneyland Paris park suffered from a reduction in summer travel due to the Olympics, and noted some “cyclical softening in China.” Source link lol

07 Aug

Sony Raises Outlook After Music, Software Help Earnings Beat

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Sony Group Corp. raised its forecast for revenue and profit in the fiscal year to March after a successful quarter for its music and gaming software divisions.The Japanese entertainment giant said its operating profit during the three months ended June was ¥279.1 billion ($1.9 billion), beating the consensus estimate of ¥273.9 billion and the year-earlier profit of ¥253 billion. Sales for the fiscal year are now expected to come in at ¥12.6 trillion, with ¥1.3 trillion yen in operating profit, both slightly raised. Source link lol

07 Aug

SoftBank Unveils $3.4 Billion Buyback Ahead of Next Big AI Bet

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SoftBank Group Corp. announced a buyback worth up to ¥500 billion ($3.4 billion), following a month of sharp selloffs and pressure from activist investor Elliott Investment Management to bolster its stock price.The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday. The announcement comes after Elliott built a sizable stake in SoftBank this year and had pushed for a $15 billion buyback, people familiar with the matter said in June. Source link lol

07 Aug

Tesla Recalls 1.6 Million Cars in China Over Hood-Lock Problem

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Tesla Inc. has recalled most of the cars it’s ever sold in China due to an issue that could leave an unlocked hood to go unnoticed, creating a potential safety hazard, according to a notice by the state market regulator.A latch assembly issue may at times prevent the driver from being alerted about an unlocked front hood, which could allow the hood to fully open with the vehicle in motion, increasing the risk of a collision, according to a recallBloomberg Terminal notice by the State Administration for Market Regulation on Tuesday. Source link lol

07 Aug

South Korea Logs Biggest Current Account Since 2017 on AI Demand

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South Korea’s current account recorded the biggest surplus in more than six years, boosted by global demand for chips used in artificial intelligence and other technology exports that have underpinned the nation’s economic growth.South Korea logged a net $12.3 billion current account surplus in June, the most since September 2017, with semiconductors and communications devices leading the export growth while imports of raw materials and capital goods fell, according to balance of payments data released Wednesday by the Bank of Korea. Net assets in the financial account also increased by $12.2 billion, the most since October 2020. Source link lol

06 Aug

Lumen Technologies Extends Record Rally on AI Hopes

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Lumen Technologies Inc. shares surged as much as 93% in post-market trading Tuesday, extending gains after notching a record one-day jump in the regular session.Driving the gains was excitement over artificial intelligence and its ability to translate into results for the company. In earnings released after the bell Tuesday, Lumen raised its forecast for free cash flow for the year, saying it expected between $1 billion and $1.2 billion. Previously, it had forecast free cash flow between $100 million and $300 million. Wall Street analysts covering the company expected the forecast to be about $217 billion, data compiled by Bloomberg…

06 Aug

China Vanke Sales Slump Extends, Adding to Debt Woes

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China Vanke Co.’s sales slump extended in July, adding to liquidity pressure at the developer that’s become the latest focal point of the nation’s property crisis. Contracted sales for the month slumped 13% from a year earlier to 19.2 billion yuan ($2.7 billion), following a 29.3% slide in June, corporate filings show. The total was 24% lower on month. Source link lol

06 Aug

SoftBank to Log Slim Profit Ahead of Masayoshi Son’s Next AI Bet

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SoftBank Group Corp. is likely to report a small profit, an indication of how past mistakes continue to weigh on the company even as billionaire founder Masayoshi Son prepares his next big AI bet.Emerging from a month of sharp selloffs, the Tokyo-based investment firm on Wednesday is expected to report a net income of ¥1 billion ($6.9 million) for the June quarter, according to the average of three analysts polled. That compares with a big loss of ¥477.6 billion a year ago, but is tiny compared with profits in the preceding two quarters, attesting to the continued drag from hundreds…