In a statement Advanced Micro Devices Inc and Xilinx said, the former’s $35 billion all-stock deal for the latter is expected to close in the first quarter of 2022. Previously the deal was expected to closed by the end of 2021…. Read More ›
Strategy
US Appeals Court revives Libor rigging claims against big banks
In a significant development a U.S. appeals court has revived a litigation wherein large banks had been accused of conspiring to rig the Libor interest rate benchmark, including during the 2008 financial crisis, to boost their profits at investors’ expense… Read More ›
Assets in iShares ESG fund plummets by 91% after top investor Ilmarinen’s exit
According to public data, the iShares of ESG MSCI EM Leaders ETF saw heavy outflows this week, leading to a tenfold drop in the assets managed by the ETF focused on sustainable emerging-market companies. In September, Finland’s Ilmarinen Mutual Pension Insurance… Read More ›
Germany drops negative COVID-19 test for UK travelers
From January 4, Germany will drop its demand for travellers from Britain to quarantine and provide a negative COVID-19 test – requirements that were imposed earlier in December during a surge of the Omicron coronavirus variant. In a tweet, the… Read More ›
IKEA raises prices by 9%, sees supply chain disruptions far into 2022
In a statement IKEA said, it is raising the prices by around 9% following an increase in raw material prices and transportation costs. Previously, IKEA had said it was leasing more ships, buying more containers and re-routing goods between warehouses… Read More ›
There Will Be High Inflation Inequality In 2022, Warn Economists
Economists fear that the coronavirus pandemic has ushered in a new era of inflation disparity, with poor people bearing the brunt of growing prices. This is because a larger amount of their budget is allocated to cost-increasing areas. Food, for… Read More ›
Covid Lockdown In China’s Xian May Interrupt Memory Chip Production, Warns Samsung, Micron
Two of the world’s leading memory chip manufacturers, Samsung Electronics and Micron Technology, have cautioned that tight Covid-19 restrictions in the Chinese city of Xian may interrupt their chip production operations. The city’s closure adds to an already difficult year… Read More ›
Global chip shortage should end by 2022: BMW CEO
In an interview to German daily Muenchner Merkur, BMW’s CEO Oliver Zipse said, the carmaker plans on creating up to 6,000 new jobs in 2022 as it prepares to meet heightened demand for its electric vehicles. “BMW is on a… Read More ›
Sk Hynix completes 1st phase of acquisition of Intel’s NAND flash memory chip business
In a statement South Korean chipmaker SK Hynix Inc said, it had completed the first phase of its acquisition of Intel Corp’s NAND flash memory chip business, having received regulatory nods from eight countries. The acquisition, which was signed in 2020, will… Read More ›
SpaceX raises $337.4M in new equity financing
In a regulatory filing SpaceX reported that it had raised $337.4 million in equity financing. Earlier this year in October, SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, touched $100 billion in valuation following a secondary sale of… Read More ›
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