PTC Buys Onshape For About $470 Mln

PTC (PTC) Wednesday said it has agreed to buy Onshape for approximately $470 million in cash.

The acquisition is expected to accelerate PTC’s ability to attract new customers with a SaaS-based product offering and position the company to capitalize on the inevitable industry transition to SaaS.

The company expects to close the deal in November 2019, pending regulatory approval and satisfaction of other closing conditions.

Located in Cambridge, MA, Onshape was founded in 2012 by Jon Hirschtick, John McEleney, and Dave Corcoran. Onshape has secured more than $150 million in funding from leading venture capital firms and has more than 5,000 subscribers around the world.

“PTC has earned a reputation for successfully pursuing new innovations that drive corporate growth,” said Jim Heppelmann, president and CEO, PTC. “Building on the strong momentum we have with our on-premises CAD and PLM businesses, we look to our future and see a new growth play with SaaS.”

Ford Motor Lowers FY19 EBIT Guidance

Ford Motor Company (F) lowered its guidance for full-year company adjusted EBIT to
between $6.5 billion and $7.0 billion, compared with $7.0 billion in 2018. Full-year adjusted earnings per share is now anticipated to be $1.20 to $1.32, versus $1.30 in 2018. The company said the fourth-quarter headwinds – higher warranty costs, higher than planned incentives in North America, and lower volumes in China – have intensified since Ford last gave financial guidance for 2019. The company still anticipates full-year growth in adjusted free cash flow driven by Automotive.

For the third-quarter, adjusted EBIT increased 8 percent to $1.8 billion. Adjusted per-share earnings were $0.34 compared to $0.29. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.26, for the quarter. Analysts’ estimates typically exclude special items.

Third-quarter reported revenue was $37.0 billion, down 2 percent from the prior year,
largely as a result of currency exchange. Analysts expected revenue of $33.98 billion, for the quarter.

UK PM aims to unblock stalled Brexit talks

Boris Johnson’s proposals include a new regulatory zone in Northern Ireland to replace the backstop arrangement in the existing withdrawal bill.

British Prime Minister Boris Johnson is hoping his new set of proposals will unblock stalled Brexit negotiations.

They include a new regulatory zone in Northern Ireland to replace the backstop arrangement in the existing withdrawal bill.

But it has not gone down well with some senior European Parliament figures, who say they will not support it.

Al Jazeera’s Jonah Hull reports from London.

Philippines hosts global writers' congress as media 'censored'

Threats to freedom of expression are taking centre stage for the first time in the Philippines.

Writers from around the world are attending an international conference in the Philippines.

The Philippines is hosting the meeting, despite accusations its President Rodrigo Duterte is cracking down on freedom of expression.

The country has slipped further down the World Press Freedom Index during Duterte’s rule.

Al Jazeera’s Jamela Alindogan reports from Manila.

Indonesia: Thousands evacuated after violent protests in Papua

At least 33 people were killed and dozens injured in Wamena town amid racially-charged violent protests last week.

Thousands of Indonesians have been evacuated from Papua province after racially-charged violent protests last week.

At least 33 people were killed and dozens injured in Wamena town.

Al Jazeera’s Raheela Mahomed reports from Jakarta, Indonesia.

In Pictures: Storm Lorenzo hits Ireland

Cameroon's language dispute keeps schools shut

English-speaking regions of Cameroon are attempting to break away from the French-speaking majority and establish their own state called Ambazonia.

Education has been a key focus at peace talks in Cameroon this week.

But as negotiations draw to a close on Friday, hundreds of thousands of children are still being excluded from school.

Cameroon’s English-speaking regions are fighting to break away from the French majority – and create their own state.

That has forced 98 percent of the schools in Anglophone regions to shut.

Al Jazeera’s Ahmed Idris reports from Yaounde.

MGM Resorts pays $800m settlement to Las Vegas gun victims

Victims of the worst mass shootings in recent US history to get $800m compensation after lawsuit.

Families of the victims of the deadliest mass shooting in recent US history have reached a settlement with the Las Vegas hotel from where the gunman carried out his attack.

The payout, believed to be the largest for any mass shooting, settles a lawsuit brought by victims and may force other companies to revamp their security policies.

Fifty-eight people were killed and more than 800 were injured when a gunman opened fire from the 32nd floor of the Mandalay Bay hotel in Las Vegas.

Al Jazeera’s Rob Reynolds reports

GZERO VIDEO: China's nationwide social credit scoring system

NEW YORK (GZERO MEDIA) – China is poised to roll out a nationwide social credit scoring system by next year.

American foreign policy expert Ian Bremmer talks about how people’s actions and behaviour will be tracked, logged and scored – to discourage what authorities consider anti-social behaviour.

This video is made available to The Straits Times under a partnership with GZERO Media, a subsidiary of the Eurasia Group.