Tag: Business
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ITV and Comcast’s Sky reshape British TV landscape with $2.1 billion deal
LONDON, July 6 : Comcast’s Sky has agreed to buy the broadcast channels and streaming service of Britain’s ITV for £1.6 billion ($2.13 billion), creating a British champion to compete with global players YouTube, Netflix, Amazon and Disney.Sky CEO Dana Strong said the deal, announced on Monday and confirming
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ECB payment system suffers second outage in a week
FRANKFURT, July 6 : The European Central Bank’s payment system on Monday suffered a second, short outage in the space of a week due to a glitch caused by a software update.The T2 system, which handles trillions of euros of daily transactions, was down for roughly 40 minutes in the early hours on Monday, delay
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Micron, Ford sign semiconductor supply agreement for vehicles
July 6 : Micron Technology and Ford Motor on Monday signed a long-term agreement to secure the supply for memory and storage platforms used in the automaker’s next-generation vehicle production.This comes days after Micron’s similar agreement with General Motors, as part of the chipmaker’s ongoing inves
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AI investors may pivot to hyperscalers from chipmakers, Morgan Stanley says
July 6 : Morgan Stanley said the recent weakness in U.S. semiconductor stocks is a sign that the market gains are broadening, with investors likely to turn toward AI “hyperscalers” as well as consumer discretionary, transport and biotechnology shares. In a note dated Monday, the brokerage said hyperscalers �
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TeraWulf jumps on $19 billion data center lease deal with Anthropic
July 6 : TeraWulf said on Monday it signed a 20-year lease with Anthropic for data center infrastructure, a deal expected to generate about $19 billion in contracted revenue, sending the bitcoin miner’s shares up more than 16 per cent in premarket trading.The deal secures long-term, recurring revenue for Tera
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Microsoft joins AI-driven tech layoff wave with 4,800 job cuts
July 6 : Microsoft is cutting about 2.1 per cent of its workforce, or roughly 4,800 jobs, the latest in a wave of tech layoffs as the Windows maker spends heavily on AI infrastructure and uses the technology to improve efficiency across its business.Big Tech’s historic AI outlays, set to top $700 billion this
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Microsoft cuts 4,800 jobs, as Xbox unit downsizes and plans to spin off four gaming studios
Microsoft is cutting jobs in its commercial business and its Xbox gaming group, where revenue has been shrinking.
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US futures rise as oil weighed by supply while earnings loom
SYDNEY/LONDON, July 6 : U.S. futures ticked higher and European stocks traded near record highs on Monday as the potential for increased energy supplies pulled down oil prices, while investors awaited a crucial earnings season for the AI sector.While there were no new developments in the fractious U.S.-Iran p
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Broadcom, Apple extend chip supply deal through 2031
July 6 : Broadcom said on Monday it has agreed to expand its partnership with Apple through 2031 to develop and supply a range of custom chips, sending the shares of the chipmaker up nearly 4 per cent in premarket trading.Broadcom has been a supplying key components to Apple for a very long time, including…
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Honeywell spinoff Solstice to buy Element Solutions for $14.5 billion
July 6 : Honeywell spinoff Solstice Advanced Materials said on Monday it will buy Element Solutions at about $14.5 billion, including debt, in a cash-and-stock deal.The deal comes less than a year after Solstice completed its spin-off from industrial conglomerate Honeywell International. The combinatio
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