(Reuters) -Wolfspeed has shelved plans to build a semiconductor factory in Ensdorf, Germany, due to slower electric vehicle adoption, the U.S. chipmaker said on Wednesday. The chipmaker said in June it had delayed plans to build the $3 billion plant, which would make, in Germany, computer chips used in electric cars, highlighting the European Union’s …
Wolfspeed shelves plans to build chip factory in Germany Read More »
(Reuters) -Chip firm Arm is cancelling an architectural license agreement that allows Qualcomm to use its intellectual property to design chips, a person familiar with the matter said, amid an ongoing legal battle between the two companies. Qualcomm closed down about 4% on Wednesday, while Arm Holdings was down about 6.6% Arm has given Qualcomm …
Arm Holdings to cancel Qualcomm chip design license, source says Read More »
(Reuters) – The European Central Bank should evaluate any deal between Italian lender UniCredit and Germany’s Commerzbank purely based on the solidity of the resulting bank rather than national interests, ECB policymaker and Governor of the Bank of Italy Fabio Panetta said on Wednesday. UniCredit is pressing for a tie-up with Commerzbank that has met …
UniCredit-Commerzbank deal should be judged on financial strength – Bank of Italy Read More »
By Jonathan Stempel NEW YORK (Reuters) -New York Attorney General Letitia James is investigating whether Capital One’s proposed $35.3 billion takeover of Discover Financial Services violates the state’s antitrust law. James asked a state judge in Manhattan in court filings on Wednesday to subpoena Capital One for documents needed for her probe, citing the bank’s …
New York probing legality of Capital One-Discover merger Read More »
By Ludwig Burger FRANKFURT (Reuters) -The CEO of pharmaceuticals giant Roche said authorities should block the takeover of contract drug manufacturer Catalent by Novo Nordisk’s controlling shareholder, as it could hit competition in the booming weight-loss drug industry. Though it stressed on Wednesday it was not itself affected, Roche is among the first drugmakers to …
Roche comes out against allowing takeover of drug manufacturer Catalent Read More »
By Christian Kraemer, Miranda Murray and Maria Martinez BERLIN/NEW YORK (Reuters) -German Economy Minister Robert Habeck laid out plans to remedy weak growth in Europe’s largest economy on Wednesday by starting a fund to stimulate investment and changing course on Germany’s budget policy. Creating a climate-neutral modern industrial future requires massive investment, both public and …
Germany’s Habeck lays out plan to boost economy through investment Read More »
By Sinead Cruise LONDON (Reuters) – Some senior HSBC staff should brace for job cuts after the bank’s latest restructuring, Chief Executive Georges Elhedery told staff in a memo seen by Reuters on Wednesday. “Inevitably some of our colleagues will face redundancies as we streamline duplicative senior roles,” Elhedery said in the memo after announcing …
HSBC CEO tells staff senior redundancies inevitable after revamp Read More »
By Linda So (Reuters) – A man accused of selling sex videos of a 16-year-old Florida girl on the adults-only website OnlyFans pleaded no contest to child abuse. Ethan Diaz, 22, of New Jersey reached the plea agreement in a Florida court in September and was sentenced to five years in prison followed by five …
OnlyFans user sentenced to five years in child abuse case Read More »
MILAN (Reuters) – Italian energy contractor Saipem on Wednesday raised its full-year guidance and confirmed its plan to resume dividend payments next year, after beating expectations for third-quarter results. The group reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 340 million euros ($366 million) between July and September, above an analyst consensus …
Italy’s Saipem improves 2024 guidance, confirms dividend plan Read More »
By Mimosa Spencer PARIS (Reuters) -Kering warned on Wednesday its 2024 operating income would almost halve to its lowest in years as weak demand in China deepened the struggles of the French luxury goods group’s main label Gucci. The group which also owns fashion brands Saint Laurent, Balenciaga and Bottega Veneta posted a larger-than-expected 16% …
France’s Kering warns on 2024 operating profit as Gucci sales fall Read More »
