Reuters Financial News

Waystar, which was set to launch its initial public offering (IPO) roadshow to pitch investors this week, has now delayed it until at least December, the Wall Street Journal reported on Tuesday. Reuters reported in August that Louisville, Kentucky-based Waystar was eyeing an IPO that could value the company at as much as $8 billion, including debt. The company will likely wait until 2024, the Journal's report added, citing people familiar with the matter. Waystar did not immediately comment on the report. Waystar, which provides software that helps hospitals and clinics manage their finances, has said it intends to list its common stock on the Nasdaq under the symbol «WAY». The company was formed in 2017 through the merger of Navicure and ZirMed. The company develops payment software helping clients such as large hospital systems with the collection of bills from patients. Waystar made its IPO filing public in October after confidentially filing it in August, joining a wave of new listings that followed a months-long dry spell wrought by high interest rates and fears of a recession. Still, hopes of the new listings — including those of chip designer Arm, and grocery delivery app Instacart — buoying the IPO market were dashed after the stocks fell below their IPO price soon after debut. Earlier this month, Birkenstock's shares ended more than 12% below its IPO price in an underwhelming Wall Street debut that signaled investors remain cautious about new listings. Waystar was valued at $2.7 billion when EQT and CPPIB acquired a majority stake in the company in 2019 from Bain Capital, which stayed on as a minority investor.

WeWork raises doublt about its survival The company also signed a seven-days long forbearance agreement with its creditors on October 30 (Monday), it added. A company spokesperson told Bloomberg this agreement would provide “time to continue in the positive conversations with our key financial stakeholders and engage with them to implement our ongoing strategic efforts to enhance our capital structure." Forbearance is a lender's temporary approval to delay loan payments, given in place of compelling the borrower into foreclosure or default. The spokesperson added that WeWork has a “a clear, long-term vision for the future", but did not respond to other queries, as per Bloomberg.

By Jamie McGeever

By Arathy Somasekhar

By Giuseppe Fonte

(Reuters) -Morgan Stanley may pay between $500 million and $1 billion to resolve a long-running U.S. probe into how it handled private stock sales, Semafor reported on Tuesday, citing people familiar with the matter.

Nokia said on Tuesday it had sued Amazon over the alleged use of the Finnish company's video-related technologies in the U.S. giant's streaming services and devices. Amazon did not immediately respond to a Reuters' request for comment.

India's sugar production is likely to fall 8% to 33.7 million metric tons in the 2023/24 marketing year, which starts on Oct. 1, a leading trade body said on Tuesday, as lower rainfall in key producing states could dent yields. Lower sugar production could lead the world's second-largest producer of sweetener to refrain from allocating export quotas and support global prices, that are trading near multi-year highs. «Sugar production for 2023/24 without considering diversion towards ethanol has been estimated at around 33.7 million tons, against 36.6 tons estimated for 2022/23,» the Indian Sugar Mills Association (ISMA) said in a statement. In August, ISMA had forecast sugar production of 36.2 million tons in the current season. The trade body did not provide an estimate for net sugar production after the diversion of sucrose for ethanol production, but it stated that the output would exceed the country's annual consumption of 27.85 million tons. The diversion of sugar towards ethanol will be estimated only after the government declares the annual ethanol procurement price, the ISMA said. Sugar mills diverted 4.1 million tons of sugar for ethanol production in the last marketing year and the similar allocation could bring down the new season's output to 29.6 million tons, said a Mumbai-based dealer with a global trade house. «The impact of the dry weather in Maharashtra and Karnataka is quite evident now.

New Delhi: The chief executives of Air India and Akasa Air have privately exchanged barbs over the poaching of pilots, with the latter accusing its bigger rival of rule violations, provoking a reply that collusion to curb job switching can breach competition law. The exchange, detailed in a Sept. 21 letter seen by Reuters, spotlights growing competition in India's aviation market, as a strong rebound in air travel after the pandemic, coupled with a flurry of orders for new aircraft, lead to a shortage of pilots.

Reuters reported that the gunman had wounded two other people in a shooting at a hospital The Japanese police surrounded a post office, and said the case may be linked to an earlier apparent shooting at a nearby hospital in which two people were wounded. One post office employee is still believed to be inside the building, according to AP. Warabi, is situated North of Tokyo, the capital city of Japan.

India’s V-Guard Industries reported second-quarter profit on Tuesday in line with analyst estimates, as more Indians bought air conditioner stabilisers and inverters in a quarter that saw the country’s driest monsoon in over a century.

Nifty 50 today: Snapping their two-day winning run, frontline indices Nifty 50 and the Sensex resumed their downward march on Tuesday, October 31, amid mixed global cues. Major Asian markets declined today as data showed Chinese manufacturing activity contracted. According to a Reuters report, data from the National Bureau of Statistics showed that China's official purchasing managers' index (PMI) fell to 49.5 in October from 50.2, dipping back below the 50-point level.

Investing.com — Crude prices tumbled almost 4% on Monday as the market looked beyond the war in the Middle East to focus on what the Federal Reserve might do or say at its interest rate decision on Wednesday.

BRUSSELS (Reuters) — Euro zone economic growth was weaker than expected in the third quarter, a flash estimate showed on Tuesday, with gross domestic product contracting slightly quarter-on-quarter and the year-on-year growth rate slowing sharply.

By Twinnie Siu and Donny Kwok

By Clare Jim, Xie Yu and Scott Murdoch

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Thailand has announced the temporary removal of visa requirements for travellers from India and Taiwan starting next month and continuing until May 2024. As reported by Reuters, this decision follows a previous move in September to eliminate visa requirements for Chinese tourists, who were a significant source of visitors before the pandemic, accounting for 11 million out of the record 39 million arrivals in 2019. "Arrivals from India and Taiwan can enter Thailand for 30 days," spokesperson Chai Wacharonke said.

Brookfield-led consortium's A$15.35 billion ($9.78 billion) takeover offer for Origin Energy Ltd, casting doubt on the future of the bid. Origin Energy's largest shareholder, the A$300 billion AustralianSuper, owns a 13.68% stake and said the offer was «substantially below» its estimate of long-term value for Australia's biggest energy retailer. Origin shares were down 0.4% in early trade on Tuesday at A$9.13 each, which was above the $A8.81 offer price. The deal requires 75% support from the votes cast at a shareholder meeting, meaning AustralianSuper's holding could be enough to scupper the bid if not all shareholders vote. The high-profile intervention into one of the biggest takeovers this year comes as Australia's A$2.4 trillion pension sector increasingly flexes its muscle at home and overseas thanks to its burgeoning size in financial markets. Brookfield-consortium's offer price of A$8.81 per share has been deemed fair by an independent expert's report, however, it outlined a «roll forward» calculation that says Origin's shares could be worth an additional 40 Australian cents by the time a potential takeover is due to occur. The Brookfield-led consortium has given no indications publicly it is considering upping the value of its bid ahead of a shareholder vote planned for 23 November. However, AustralianSuper is not alone in its reservations over the price. Fund manager Perpetual told media last month the deal undervalued the energy company.

China's state-backed chip investment fund has invested 14.56 billion yuan ($1.99 billion) in a memory chip company called Changxin Xinqiao, records showed. The deal saw China Integrated Circuit Industry Investment Fund, also known as the «Big Fund», contribute to 33.15% of the total registered capital of Changxin Xinqiao, according to an update dated Oct. 26 to the company's registration information on the National Enterprise Credit Information Publicity System. According to company registration website Qichacha, Changxin Xinqiao was founded in 2021 in Hefei city, in the eastern Anhui province. Its general manager is Zhao Lun, who is also the chairman and general manager of Changxin Memory Technology, which is one of China's leading memory chip companies. Changxin Xinqiao and the Big Fund did not immediately respond to Reuters' requests for comment. The Big Fund's latest investment comes after it invested 13 billion yuan into Yangtze Memory Technologies (YMTC) earlier this year, marking one of its largest investments in recent years. YMTC, China's only player in the global NAND memory market, has been aggressively expanding production capacity and R&D with the help of state subsidies.

The puzzle game on his Android phone had been interrupted by a video showing Hamas militants, terrified Israeli families and blurred graphic footage. Over a black screen, a message from the Israeli Ministry of Foreign Affairs told the first grader: «WE WILL MAKE SURE THAT THOSE WHO HARM US PAY A HEAVY PRICE.» Assis, a 28-year-old barista from Brazil, said that the ad left her son shaken and she quickly deleted the game. «He was shocked,» she said in a telephone interview last week.