Oil Prices Fall On Growth Worries, Dollar Strength

Vodafone Agrees To Sell Vodafone Hungary For €1.8 Bln – Quick Facts

British telecom major Vodafone Group Plc (VOD.L,VOD) announced that it has agreed to the potential sale of Vodafone Magyarország Távközlési Zrt or Vodafone Hungary for an enterprise value of HUF 715 billion or 1.8 billion euros in cash.

The company has entered into heads of terms with 4iG Public Limited Co. and Corvinus Zrt, a Hungarian state holding company, in relation to the potential sale.

The transaction is subject to completion of confirmatory due diligence, the companies entering into binding transaction documentation and obtaining regulatory approval. The companies are targeting completion by the end of 2022.

Vodafone’s shared services business in Hungary, VOIS, is not included in the deal. It will continue to provide services to Vodafone’s other operating companies.

Nick Read, Chief Executive of Vodafone, said, “This combination with 4iG will allow Vodafone Hungary, which has a proud history of success and innovation in the country, to play a major role in the future growth and development of the sector as a much stronger scaled and fully converged operator. The combined entity will increase competition and have greater access to investment to further the digitalisation of Hungary.”

Sheryl Sandberg is out at Meta. She spoke to CNN about Facebook's struggles with misinformation in 2019

New York (CNN Business)Meta exec Sheryl Sandberg tied the knot with businessman Tom Bernthal over the weekend.

Sandberg — who announced in June that she would leave her role as chief operating officer of Facebook’s parent company in the fall — posted “MARRIED,” followed by several heart emojis on her Facebook and Instagram accounts. The message accompanied a photo of Sandberg and Bernthal.
Brandon McCormick, a spokesperson for Sandberg, confirmed the Meta COO and Bernthal married in Wyoming on Saturday.

    Sheryl Sandberg's complicated legacy at Facebook
    Sandberg and Bernthal announced their engagement in February 2020. Bernthal is the founder and CEO of Kelton Global, a strategic consulting firm based in Los Angeles.

      The couple had been dating since spring 2019 after they were introduced to each other by the brother of Sandberg’s late husband, according to People.

        Her first husband, David Goldberg, died in 2015 after collapsing while on vacation with his family in Mexico. Goldberg, the CEO of SurveyMonkey at the time, fell while using a treadmill. An autopsy later revealed a coronary arrhythmia was the cause of his death.
        — Alicia Lee contributed to this report

          Pre-market Movers: CARA, AGFY, TRQ, GWAV, ROOT…

          The following are some of the stocks making big moves in Monday’s pre-market trading (as of 07.45 A.M. ET).

          In the Green

          Agrify Corporation (AGFY) is up over 23% at $1.97
          Greenwave Technology Solutions, Inc. (GWAV) is up over 13% at $3.77
          PlayAGS, Inc. (AGS) is up over 12% at $8.46
          Torrid Holdings Inc. (CURV) is up over 9% at $7.66
          F45 Training Holdings Inc. (FXLV) is up over 9% at $2.35
          Bed Bath & Beyond Inc. (BBBY) is up over 6% at $13.73

          In the Red

          Cara Therapeutics, Inc. (CARA) is down over 34% at $7.52
          Turquoise Hill Resources Ltd. (TRQ) is down over 20% at $20.99
          Root, Inc. (ROOT) is down over 12% at $14.94
          Clene Inc. (CLNN) is down over 9% at $3.12
          Apexigen, Inc. (APGN) is down over 6% at $7.94

          Insulet: Automated Insulin Delivery System Omnipod 5 Gets FDA Clearance

          Medical device company Insulet Corp. (PODD) announced Monday that it has received clearance from the U.S. Food and Drug Administration for its Omnipod 5 Automated Insulin Delivery System for individuals aged two years and older with type 1 diabetes or T1D.

          Omnipod 5 is the first tubeless automated insulin delivery or AID system in the U.S. It was originally cleared for use in individuals aged six and older in January 2022.

          The system consists of the tubeless Pod enhanced with SmartAdjust technology, the Omnipod 5 mobile app with its integrated SmartBolus Calculator, and the Dexcom G6 CGM.

          The company noted that Omnipod 5 is the first tubeless AID system in the U.S. that integrates with the Dexcom G6 CGM system and a compatible smartphone to automatically adjust insulin and help protect against high and low glucose levels.

          Insulet said healthcare professionals can now prescribe Omnipod 5 to their patients with insurance coverage and patients can access their prescription through the pharmacy channel, which means there is no contract and no commitment.

          The Omnipod brand is the only insulin pump in the U.S. available through the pharmacy.

          For More Such Health News, visit rttnews.com

          Oil Prices Fall On Growth Worries, Dollar Strength

          Oil prices fell on Monday as the dollar extended its climb amid angst over global growth.

          Benchmark Brent crude futures dropped 0.9 percent to $95.85 per barrel while WTI crude futures were down 0.9 percent at $89.666.

          Recession worries persisted following hawkish comments from ECB and Fed officials.

          The dollar resumed its rally to hover near five-week high after another Federal Reserve official flagged the likelihood of continued aggressive monetary tightening.

          Richmond Fed President Thomas Barkin said central bankers were inclined towards faster, front-loaded interest rate increases, even if that meant risking a U.S. economic recession.

          Elsewhere, Bundesbank President Joachim Nagel told German newspaper Rheinischen Post that inflation in Germany could hit a 70-year high of 10 percent this fall as Russian natural-gas supplies slow.

          A recession appears likely next winter but the European Central Bank should continue increasing rates to tame inflation, he added as Russia announced a three-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month, exacerbating the region’s energy crisis.

          Worries over slowing fuel demand in China, the world’s largest oil importer, in part due to a power crunch in the southwest caused by a heatwave, also weighed on prices.