(Reuters) – Frontier Communications urged shareholders on Friday to vote for a $20 billion takeover bid from Verizon, saying that it had reviewed interest from other potential buyers and found the telecom giant’s proposal as the most favorable option. The fiber-optic internet provider said Verizon’s final offer presents “a superior value over all other potential […]
Exclusive-JBS, Sigma vie for Kraft Heinz’s $3 billion hot-dog business, sources say
By Abigail Summerville NEW YORK (Reuters) – Brazilian meatpacker JBS and Mexico’s Sigma Alimentos are among those competing to acquire Oscar Mayer, the hot dogs and cold cuts business of packaged food giant Kraft Heinz, according to people familiar with the matter. The divestment of the popular hot-dog brand, which the sources said could fetch […]
Yum Brands takes out onions from meals after E.coli outbreak at McDonald’s
(Reuters) -Yum Brands said on Thursday it would be removing fresh onions from its meals at certain Taco Bell, Pizza Hut and KFC restaurants out of an “abundance of caution”, following an E.coli outbreak tied to McDonald’s Quarter Pounder hamburgers. The E.coli outbreak has killed at least one person and sickened nearly 50 others across […]
Apple sharply cuts back on Vision Pro production, The Information reports
(Reuters) – Apple has sharply scaled back its Vision Pro production since early summer and could stop making the existing version of the mixed reality headset by year-end, the Information reported on Wednesday, citing people involved in building its components. Sales for the device have been waning after initial enthusiasm following its launch in February, […]
Qualcomm, Alphabet team up for automotive AI; Mercedes inks chip deal
By Stephen Nellis (Reuters) – Qualcomm on Tuesday said it was teaming up with Alphabet’s Google to offer a combination of chips and software that will let automakers develop their own AI voice assistants using technology from the two firms. Qualcomm’s chips have long powered mobile phones with Google’s Android operating system and the company […]
Goldman Sachs faces US CFPB fine over credit card business, WSJ reports
(Reuters) -Goldman Sachs is facing a fine in the tens of millions of dollars from the U.S. Consumer Financial Protection Bureau over its credit card business, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The consumer watchdog’s enforcement action is tied to an investigation into Goldman’s customer service operations with […]
US set to award Hemlock Semiconductor $325 million for polysilicon production
By David Shepardson (Reuters) – The U.S. Commerce Department said Monday it plans to award $325 million to Hemlock Semiconductor to significantly expand production capacity of semiconductor-grade polysilicon as it seeks to shift the chips supply chain. The government grant from the $52.7 billion semiconductor manufacturing and research subsidy program would support construction of a […]
U.S. to soon curb AI investment in China
By Karen Freifeld (Reuters) – U.S. rules that will ban certain U.S. investments in artificial intelligence in China are under final review, according to a government posting, suggesting the restrictions are coming soon. The rules, which will also require U.S. investors to notify the Treasury Department about some investments in AI and other sensitive technologies, […]
Gold’s allure spreads as bulls lock in on fresh records
By Polina Devitt and Swati Verma LONDON (Reuters) – Gold is extending a period of successive record highs, moving the psychological milestone of $3,000 per ounce into view, analysts said, as geopolitical tension, a tight U.S. electoral race and favorable macro backdrop attract more investors. Spot gold reached a historic high of $2,740.37 a troy […]
Eutelsat uses SpaceX rocket to launch first satellites after merger
By Supantha Mukherjee STOCKHOLM (Reuters) – Eutelsat, the world’s third-biggest satellite operator by revenue, launched 20 satellites for its communications network on Sunday, using Elon Musk’s SpaceX in its first move since the merger of two European companies last year. A SpaceX Falcon 9 rocket took off with Eutelsat satellites from California’s Vandenberg Space Force […]