Updated

Branson’s Virgin Orbit files for bankruptcy after launch failure squeezed finances

By Joey Roulette WASHINGTON (Reuters) -Virgin Orbit Holdings Inc, founded by billionaire Richard Branson, filed for Chapter 11 bankruptcy protection on Tuesday after the satellite launching business struggled to secure long-term funding following a failed launch in January. The filing comes less than two years after Virgin Orbit went public at a valuation of roughly …

Branson’s Virgin Orbit files for bankruptcy after launch failure squeezed finances Read More »

UK watchdog fines TikTok $16 million for ‘misusing children’s data’

LONDON (Reuters) – Britain’s data watchdog said on Tuesday it had fined TikTok 12.7 million pounds ($15.9 million) for breaching data protection law including by using the personal data of children aged under 13 without parental consent. The Information Commissioner’s Office (ICO) estimated that TikTok allowed as many as 1.4 million UK children under 13 …

UK watchdog fines TikTok $16 million for ‘misusing children’s data’ Read More »

U.S. dollar slumps after weak data; markets betting Fed near end of hiking cycle

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar sank to a two-month low on Tuesday as another round of weak economic data reinforced investor bets that the Federal Reserve is nearly done with its tightening cycle even as other central banks are seen still raising interest rates to overcome persistently high inflation. Sterling …

U.S. dollar slumps after weak data; markets betting Fed near end of hiking cycle Read More »

J.P.Morgan puts India’s HCL on ‘negative catalyst watch’ ahead of Q4 results

BENGALURU (Reuters) – J.P.Morgan on Tuesday placed Indian IT services provider HCL Technologies Ltd on “negative catalyst watch” ahead of the earnings season, citing the highest near-term risks for the company. “We remain cautious on the IT sector as we see downside risks to earnings and multiples from the weak fourth quarter prints and FY24 …

J.P.Morgan puts India’s HCL on ‘negative catalyst watch’ ahead of Q4 results Read More »