By Saeed Azhar, Lananh Nguyen and Arasu Kannagi Basil (Reuters) – Bank of America expects regulatory changes under President-elect Donald Trump to favor mergers and acquisitions among companies, including banks, CEO Brian Moynihan said on Wednesday. “Regulatory changes will be favorable for the ability to get deals done,” Moynihan told investors at the Goldman Sachs […]
JPMorgan Chase expects investment banking fees to be up by 45% in Q4
By Nupur Anand, Tatiana Bautzer and Manya Saini NEW YORK (Reuters) -JPMorgan Chase investment banking fees are expected to rise by 45% in the fourth quarter over a year ago, Marianne Lake, the bank’s CEO of consumer and community banking, said on Tuesday. Trading fees are likely to jump by 15% in the fourth quarter, […]
Google parent Alphabet jumps on quantum chip breakthrough
(Reuters) – Shares of Google parent Alphabet rose about 5% on Tuesday after it unveiled a new generation chip that the company said helped overcome a key challenge in quantum computing. Google on Monday introduced a new chip called Willow, which solved in five minutes a computing problem that would take a classical computer more […]
Apple to bring satellite communications to smartwatch next year, Bloomberg News reports
(Reuters) – Apple plans to bring satellite connections to its smartwatch in 2025 and is ramping up work on a blood-pressure feature for the device, Bloomberg News reported on Tuesday. The satellite feature is expected to come to next year’s version of the iPhone maker’s Apple Watch Ultra, the report said, citing people familiar with […]
Google says it has cracked a quantum computing challenge with new chip
By Stephen Nellis SANTA BARBARA, California (Reuters) – Google on Monday said that it has overcome a key challenge in quantum computing with a new generation of chip, solving a computing problem in five minutes that would take a classical computer more time than the history of the universe. Like other tech giants such as […]
Blackstone, EQT advance into next round of Urbaser sale, sources say
By Andres Gonzalez LONDON (Reuters) – Buyout groups Blackstone and EQT have advanced to the second round of bids in the sale process of waste management company Urbaser, according to two sources with knowledge of the situation. Urbaser´s owner, private equity firm Platinum, engaged Citi and Santander as advisors for the sale earlier this year, […]
Apple plans three-year modem rollout to compete with Qualcomm, Bloomberg News reports
(Reuters) – Apple is preparing to launch its long-awaited series of cellular modem chips next year, which will replace components from longtime partner Qualcomm, Bloomberg News reported on Friday. The iPhone maker is looking to ultimately overtake Qualcomm’s technology by 2027, the report said, citing people familiar with the matter. Qualcomm, a leading designer of […]
Nvidia CFO says M&A possible use for growing cash hoard
(Reuters) – AI chip leader Nvidia could put its growing cash pile to use through possible mergers and acquisitions, finance chief Colette Kress said during a technology conference in Arizona on Tuesday. “We can also think about that in terms of our work, of bringing on great teams in some M&A form,” she said at […]
Exxon names former GM president to run oil and gas business
HOUSTON (Reuters) – Exxon Mobil said on Tuesday that Dan Ammann, former president of General Motors, will take over its largest and most profitable business early next year. Ammann, who joined Exxon two years ago to run its clean energy unit, called Low Carbon Solutions, will replace 34-year Exxon veteran Liam Mallon as president of […]
TPG explores $1.5 billion-plus sale of gym chain Crunch Fitness, sources say
By Abigail Summerville NEW YORK (Reuters) – Buyout firm TPG is weighing a potential sale of Crunch Fitness that could value the gym chain at more than $1.5 billion, including debt, people familiar with the matter told Reuters on Tuesday. TPG, which acquired Crunch Fitness through its buyout arm that focuses on small and mid-sized […]