(Reuters) – Quantum computing firm D-Wave Systems Inc said on Tuesday it had agreed to go public by merging with blank-check company DPCM Capital in a deal that values the combined company at nearly $1.6 billion. Vancouver-based D-Wave is pushing ahead with the deal even as other companies that recently took a similar route, such …
Quantum computing company D-Wave to go public via $1.6 billion SPAC deal Read More »
(Reuters) – CoverGirl cosmetics maker Coty Inc said on Tuesday it would withdraw from the planned initial public offering of its Brazilian unit, blaming adverse financial market conditions in the South American country. The company had announced https://www.reuters.com/business/retail-consumer/coty-files-ipo-brazilian-unit-help-deleverage-2021-08-26 plans to publicly list the unit in August, aiming to use the proceeds to pay down debt …
By David Shepardson WASHINGTON (Reuters) -A bid by budget carriers Frontier Group Holdings and Spirit Airlines Inc to create the fifth-largest U.S. airline will face close scrutiny from the Justice Department, lawyers said Monday. The Biden administration has made injecting more competition into U.S. industries a key priority. Andre Barlow, an antitrust lawyer at Doyle, …
Frontier, Spirit tie-up will face close U.S. review – lawyers Read More »
(Reuters) -Industrial materials maker DuPont posted quarterly earnings that surpassed market expectations on Tuesday as price hikes and strong demand in its electronics unit helped offset a hit from surging raw material costs. The company also boosted its quarterly dividend by 10% and announced a new $1 billion share buyback program, as it capitalizes on …
DuPont beats profit estimates on price hikes, electronics demand Read More »
By Elizabeth Culliford (Reuters) – Facebook owner Meta Platforms should not allow users to share people’s private residential information on its platforms even when the information is publicly available, the company’s oversight board said in its first policy advisory opinion. The board also recommended Meta create a communications channel so that so-called doxxing victims can …
Facebook should tighten doxxing rules on home addresses, says its oversight board Read More »
By David Shepardson WASHINGTON (Reuters) – Ride-sharing company Uber Technologies plans to begin reminding passengers to wear seat belts by pinging driver phones and sending riders messages amid a spike in U.S. traffic deaths. Uber told Reuters its new feature that launches Tuesday aims to alert riders to buckle up via a distinctive chime from …
Uber to use alerts to remind riders to buckle up Read More »
By Josh Horwitz SHANGHAI (Reuters) – The chip industry is breathing a sigh of relief over the aborted purchase of ARM Ltd by U.S. chipmaker Nvidia Corp but the firms and their shareholders are left with challenges the deal would have addressed. Announced in 2020, Nvidia’s plan to buy Britain’s Arm from Japan’s SoftBank was …
Relief and challenges for chipmakers as Nvidia-Arm megadeal collapses Read More »
By Foo Yun Chee and Sabine Siebold BRUSSELS (Reuters) – The European Commission will ease funding rules for innovative semiconductor plants under plans announced on Tuesday as the European Union looks to boost its chip industry and cut its dependence on U.S. and Asian supply. The Commission’s action comes as a global chip shortage and …
EU eases state aid rules in multi-billion euro boost for chip sector Read More »
ROME (Reuters) – Ferrari said on Tuesday it would partner with Qualcomm Technologies to use the San-Diego based group’s premium product, the Snapdragon chipsets, to accelerate the sports carmaker digital transformation. The deal will involve both its road cars and its Formula One racing team and the first common projects, including the so-called digital cockpit, …
Ferrari and Qualcomm team up for tech projects for road, racing cars Read More »
By Sinéad Carew (Reuters) – While U.S. bank stocks had a rocky start to the year, investors and analysts see accelerating loan growth and Federal Reserve interest rate hikes boosting the sector. The U.S. economic recovery has spurred consumer spending, which is encouraging companies to build inventories and in turn has increased demand for business …
U.S. banks outlook positive with loan growth and rate hikes in view Read More »
