June 6 (Reuters) – Dolby Laboratories (DLB.N), opens new tab said on Thursday it was acquiring GE Licensing, an intellectual property business targeting the consumer digital media and electronics sectors, in a $429 million deal. The takeover, which aims to further Dolby’s existing licensing businesses, comprises over 5,000 GE patents. However, it excludes aerospace and defense IPs […]
LONDON — Enterprise tech giant Salesforce is opening an artificial intelligence center in London, making a bullish bet on the U.K. as a global technology hub. The U.S. software giant said in a statement Thursday that it is opening a more-than-40,000-square-foot facility in London’s Blue Fin Building, which can host over 300 people. It will be used […]
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street’s tech-led stock surge to new records has seen $3 trillion AI-champion Nvidia (NVDA.O), opens new tab replace Apple (AAPL.O), opens new tab as the world’s 2nd most valuable company in a market infused with interest rate cut excitement across the G7. With the European Central […]
Hindalco-backed aluminum recycling company Novelis has postponed its U.S. listing of over $900 million, citing market conditions. “Novelis will continue to evaluate the timing of the offering in the future,” the company said late Tuesday, without elaborating further. Source: WSJ
SYDNEY, June 5 (Reuters) – The Australian government on Wednesday introduced legislation that would require buy-now-pay-later (BNPL) firms to run credit checks on borrowers, aiming to regulate the rapidly growing sector popular among youth like other consumer credit products. BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over […]
U.S. ignored evidence major U.K. bank was helping fund sanctioned Iranian groups, whistleblower says
Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. London-based Standard Chartered, which primarily serves clients in emerging markets, was previously punished with more than a combined $1.7 billion in fines after admitting in 2012 and 2019 […]
BRUSSELS, June 4 (Reuters) – European Union finance ministers will hold a videoconference on Wednesday on a G7 proposal to leverage Russian central bank assets immobilised in the West to allow Kyiv swiftly to receive a loan of around $50 billion, senior euro zone officials said. The size of the loan has not yet been […]
SHANGHAI, June 5 (Reuters) – The Shanghai and Shenzhen stock exchanges are considering suspending certain value-added market data feeds to institutions such as computer-driven quant funds, two sources said in an effort by Chinese regulators to tighten scrutiny of a sector blamed for contributing to market volatility. The bourses may suspend providing granular transaction details […]
Tencent-backed artificial intelligence (AI) drug researcher QuantumPharm is raising up to HK$1.13 billion (US$144.5 million) in a Hong Kong initial public offering (IPO) from Tuesday, eyeing the first listing under a new regime for pre-revenue specialist technology firms that was introduced more than a year ago. The Shenzhen-headquartered company, also known as XtalPi, is offering […]
A look at the day ahead in U.S. and global markets from Mike Dolan With a still-powerful “buy the dip” instinct in stocks, U.S. markets are having a rare bout of jitters about a slowing economy – with Treasury yields, the dollar and oil prices all swooning over the past 24 hours. Wall Street’s tech-led “bounce-ability” was […]