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Trump’s funding cuts put America’s consumer watchdog on the brink of collapse
WASHINGTON, Dec 30 (Reuters) – When Bianca Jones, a 33-year-old special education teacher in Memphis, Tennessee, decided a couple of years ago that she wanted to buy a house, she started digging into her Experian credit report. She was shocked by what she found. Her student debt had been double-counted, making it look as t[...]
SoftBank completes $40B OpenAI investment
Dec 30 (Reuters) – SoftBank Group has completed its $40 billion investment in OpenAI, a source familiar with the matter said on Tuesday, marking one of the largest private funding rounds ever and deepening founder Masayoshi Son’s bet on AI. SoftBank has been building one of the largest private technology investment p[...]
Lululemon founder Chip Wilson launches proxy fight for board shakeup
Dec 29 (Reuters) – Lululemon Athletica’s founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company’s board, days after the apparel maker announced the exit of CEO Calvin McDonald. Lululemon shares have shed nearly half their value this year as the [...]
Nvidia takes $5 billion stake in Intel under September agreement
Dec 29 (Reuters) – Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing on Monday, carrying out a transaction announced in September. The leading AI chip designer said in September it would pay $23.28 per share for Intel common stock, in a deal that is seen as a […]
Oil falls $1 on looming supply glut, hopes for Ukraine peace deal
Oil prices fell by more than $1 a barrel on Friday as investors weighed a looming global supply glut and a reduced war risk premium, amid hopes of a Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.
Target faces activist investor pressure as sales slide
Dec 26 (Reuters) – Target is facing pressure from hedge fund Toms Capital Investment Management, which has made a significant investment in the retailer, the Financial Times reported on Friday, citing people familiar with the matter. Shares of the company were up 1.5% after the news. The stock has lost about 26% of its val[...]
Nvidia, joining Big Tech deal spree, to license Groq technology, hire executives
Dec 24 (Reuters) – Nvidia has agreed to license chip technology from startup Groq and hire away its CEO, a veteran of Alphabet’s Google, Groq said in a blog post on Wednesday. The deal follows a familiar pattern in recent years where the world’s biggest technology firms pay large sums in deals with promising st[...]
Warner Bros bidding war and red hot M&A market has dealmakers working through holidays
NEW YORK, Dec 22 (Reuters) – A flurry of multi-billion-dollar deals has bankers and advisers from Wall Street to Canary Wharf packing laptops next to presents and warning family and friends their holiday vacations over the next two weeks will be cut short. There have been $463.6 billion in mergers and acquisitions announce[...]
US economic growth accelerates in third quarter
US GDP grew at a 4.3% annualized rate in Q3, topping forecasts as consumer spending jumped despite shutdown headwinds.
US lawmakers want disclosure of license reviews for Nvidia H200 chip sales to China
WASHINGTON, Dec 22 (Reuters) – Two senior Democratic lawmakers on Monday asked the U.S. Commerce Department to disclose details and any approvals of ongoing license reviews for potential sales to Chinese firms of Nvidia’s second-most powerful AI chips. President Donald Trump this month said he would allow sales of Nv[...]
Alphabet to buy clean energy developer Intersect in $4.75 billion deal amid AI push
Dec 22 (Reuters) – Alphabet said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence. Big Tech has ramped up investments in energy firms as U.S. power g[...]
Warner Bros bidding war and red hot M&A market has dealmakers working through holidays
NEW YORK, Dec 22 (Reuters) – A flurry of multi-billion-dollar deals has bankers and advisers from Wall Street to Canary Wharf packing laptops next to presents and warning family and friends their holiday vacations over the next two weeks will be cut short. There have been $463.6 billion in mergers and acquisitions announce[...]
