By Jane Lanhee Lee (Reuters) – SoftBank Group Corp’s sale of Arm Ltd to U.S. chipmaker Nvidia Corp has collapsed, a source familiar with the matter told Reuters on Monday, adding that Arm will plan for an IPO. The deal has faced several regulatory hurdles, with the U.S. Federal Trade Commission suing to block it…
(Reuters) – SoftBank Group Corp’s $66 bln sale of Arm Ltd to U.S. chipmaker Nvidia Corp has collapsed on Monday, the Financial Times reported, citing three people with direct knowledge of the transaction. The Japanese investment giant would receive a break-up fee of up to $1.25 billion, the newspaper quoted one of the people as…
SEOUL (Reuters) – South Korea’s LG Energy Solution Ltd (LGES) said on Tuesday it swung to profit in the October-December quarter, though its electric vehicle (EV) battery demand was weaker than expected as automakers grapple with a global chip shortage https://www.reuters.com/business/autos-transportation/why-is-there-global-chip-shortage-why-should-you-care-2021-03-31. The battery maker, which went public https://www.reuters.com/markets/europe/lg-energy-solution-debuts-after-13-trillion-frenzy-skoreas-biggest-ipo-2022-01-26 last month in the country’s biggest ever…
LAS VEGAS (AP) — Maurice Gallagher, the longtime CEO of budget airline Allegiant, will step down as CEO of the airline’s parent company and be replaced by company President John Redmond on June 1. Allegiant Travel Co. announced the change in CEOs on Monday. Gallagher will remain chairman. Gallagher said the change in CEOs formalizes…
MENLO PARK, Calif. (AP) — Peter Thiel, a Silicon Valley billionaire and advisor to former President Donald Trump, is leaving the board of directors of Facebook parent company Meta. The company said Monday that Thiel will stay on until Meta’s next shareholder meeting later this year, where he will not stand for reelection. Thiel joined…
(Reuters) -Take-Two Interactive Software Inc on Monday projected fourth-quarter revenue below market expectations, a sign that its thin lineup of new titles would overshadow the boost from the “Grand Theft Auto” franchise. The publisher of “NBA 2K” and “WWE 2K” games also missed estimates for net bookings – the total amount products and services sold…
(Reuters) -Australia’s Macquarie Group said on Tuesday a strong performance in its markets-facing businesses helped drive a record third quarter, with the financial conglomerate flagging a significant rise in commodities income this year. The world’s top infrastructure investor, which does not disclose profit figures in quarterly updates, said the net profit contribution from its commodities,…
NEW YORK (AP) — Late last year, autonomous vehicle startup Gatik announced a big step: It eliminated the safety operator from behind the wheel of two self-driving trucks as part of its partnership with discounter Walmart. Now, the Mountain View, California firm is looking to speed up the process of fully driverless truck operations in…
WASHINGTON (AP) — The Biden administration is raising red flags about 33 Chinese companies whose legitimacy it cannot verify, imposing new restrictions on their ability to receive shipments from U.S. exporters and requiring extra diligence from American companies that want to do business with them. The Commerce Department said Monday that it was adding the…
SACRAMENTO, Calif. (AP) — When Crystal Orozco got sick with the coronavirus last month, she missed nearly two weeks’ worth of her salary as a shift leader at a fast food restaurant and had to ask family members for a loan to help pay her rent. “My check was literally $86,” she said. “I was…
