MEXICO CITY (Reuters) – Mexican telecommunications giant America Movil, controlled by the family of tycoon Carlos Slim, announced the launch of a foreign debt public offering of up to 20 billion pesos ($1.17 billion), the company said in a statement on Monday. The issuance will take place on July 6, part of a five-year overall…
By Yuvraj Malik (Reuters) -IBM said on Monday it will acquire technology spend-management platform Apptio from Vista Equity Partners for $4.6 billion in cash, in the latest deal to bolster its capabilities in cloud and automation. Shares of IBM were marginally lower in premarket trading. IBM said it will finance the transaction with cash on…
(Reuters) – Wolfspeed said on Monday that a group led by Apollo Global Management would make a debt investment of $1.25 billion in the chipmaker, with room for an additional $750 million, to support its U.S. expansion. Wolfspeed CEO Gregg Lowe said the financing would help “scale up near-term operations at our Mohawk Valley Fab…
By Paul Lienert (Reuters) – General Motors does not expect to put Tesla-compatible charging ports on its new Chevrolet Silverado EV pickups before model year 2025, it said on Monday. The U.S. automaker also has scrapped plans to offer a base version of the Silverado EV with a $39,000 price tag, Amy Masica, director of…
(Reuters) -SolarWinds said on Friday some of its former and current executives had been issued a Wells notice by the U.S. Securities and Exchange Commission over a massive 2020 data breach tied to the software firm. A Wells notice does not necessarily mean that recipients have violated any law. The SEC issues Wells notices to…
By Lisa Richwine and Steve Gorman LOS ANGELES (Reuters) – Film and television directors voted overwhelmingly to ratify a new three-year labor contract with major Hollywood studios on Friday, averting a second work stoppage that would have added to upheaval caused by an ongoing writers’ strike. The Directors Guild of America (DGA) said 87% of…
By Sara Merken NEW YORK (Reuters) – A U.S. judge on Thursday imposed sanctions on two New York lawyers who submitted a legal brief that included six fictitious case citations generated by an artificial intelligence chatbot, ChatGPT. U.S. District Judge P. Kevin Castel in Manhattan ordered lawyers Steven Schwartz, Peter LoDuca and their law firm…
By Nick Carey, Paul Lienert and Victoria Waldersee LONDON (Reuters) – Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy. An array of startups offers second-life…
By Danilo Masoni and Lucy Raitano MILAN (Reuters) – The rapid adoption of generative artificial intelligence has boosted markets this year, but after the initial euphoria, investors are waking up to the possible risks, including the need to be highly selective in stock-picking. Businesses ranging from IT services and consulting to media, information and education…
(Reuters) – A group of investors led by Apollo Global Management is making a debt investment between $1 billion to $2 billion in chipmaker Wolfspeed to support its expansion in the U.S., media outlets reported on Sunday. The financing would make $1.25 billion of cash available immediately to Wolfspeed, while another $750 million could be…
