According to Bloomberg, the U.S. division of Intel Corp., along with South Korean firms Samsung Electronics and SK Hynix, will forfeit their access to American technology. Information from the U.S. Federal Register indicates that the exemptions permitting their use of American technology will end in 120 days. The businesses will have the opportunity to request licenses to maintain their...

American Walgreens Boots Alliance, purchased by the investment firm Sycamore Partners, revealed a shift in its corporate organization. The organization will divide into multiple autonomous entities. Alongside the American pharmacy chain Walgreens, there is the British chain Boots Group, which offers healthcare services through Shields Health Solutions, focuses on home health care with...

Europe's biggest ammunition factory, constructed by arms producer Rheinmetall AG in the Unterlüss area of Lower Saxony, started operations on Wednesday, according to Bloomberg. The facility aims to achieve its maximum output by 2027, at which point it can manufacture as many as 350,000 rounds of ammunition annually. The firm intends to manufacture rocket artillery systems at that location...

EssilorLuxottica, the European producer of eyewear and sunglasses, is contemplating raising its ownership in the Japanese optical equipment manufacturer Nikon Corp., according to Bloomberg, which references sources with knowledge of the situation. EssilorLuxottica presently possesses roughly 9% of Nikon. As per sources, it aims to raise its ownership in the Japanese firm to 20%. Nikon's stock...

AbbVie Inc., an American pharmaceutical firm, is acquiring the operations of Gilgamesh Pharmaceuticals Inc. to create a medication aimed at treating individuals with moderate to severe clinical depression. A press release from AbbVie states that clinical trials for the medication are presently in progress. According to the agreement, AbbVie will purchase Gilgamesh's initiative to create this...

Nvidia Corp. is negotiating with the U.S. government for approval to send advanced new chips to China, CEO Jensen Huang stated on Friday. This week, reports surfaced indicating that Nvidia is creating a new AI chip for the Chinese market, named the B30A, which surpasses the H20 that the company can send to China. Huang, visiting Taiwan, informed reporters that the firm could send more...

According to court documents cited by CNBC, Elon Musk proposed that Mark Zuckerberg, the head of Meta, join in the acquisition of OpenAI planned for early 2025. The documents were released to the public as a segment of the legal dispute involving Musk and OpenAI, which the entrepreneur co-founded. In February of this year, Musk and a consortium of investors submitted a proposal to purchase the...

The procedure for drawing in a strategic investor to the Latvian national airline airBaltic has been successfully finalized, all transaction paperwork has been signed, and the required formalities have been fulfilled, according to the airline's website. “The total investment in the airline, which includes the previously disclosed joint investment by the Latvian state on identical terms and the...

The shareholders of Mediobanca in Italy voted predominantly against acquiring its competitor Banca Generali, the bank announced in a statement. Just 35% of shareholders supported the acquisition of the bank, falling short of the needed 50%. “This represents a lost chance for the growth of our bank and the Italian financial sector,” stated Mediobanca CEO Alberto Nagel. The outcome of the vote...