GlobalFoundries to Invest $8 Billion in Dresden Plant, HB Says
GlobalFoundries Inc. plans to invest $8 billion to double capacity at its chipmaking plant in Dresden, Germany, newspaper Handelsblatt reported.
Bloomberg Tech
Prosus’s New CEO Needs Answers to Same Old Problems
Prosus NV’s new interim CEO inherits a conundrum from his predecessor: how to bridge the yawning gap between the value of the company’s stock and its assets.
Ant Consumer Finance Arm to Raise $616 Million for Growth
Ant Group Co.’s consumer finance affiliate is raising 4.5 billion yuan ($616 million) from investors to revive growth after regulators wrapped up a multi-year crackdown on the Jack Ma-backed financial technology giant.
Ant Consumer Finance Arm to Raise $616 Million to Revive Growth
Ant Group Co.’s consumer finance affiliate is raising 4.5 billion yuan ($616 million) from investors, as the Jack Ma-backed fintech giant seeks to revive growth after regulators wrapped up a multi-year crackdown.
Micron Is Set to Drop on Forecast for Worse-Than-Expected Loss
Micron Technology Inc. fell as much as 5.5% in premarket trading after predicting a steeper loss than anticipated in the current quarter, indicating that an industry slump is still weighing on the largest US maker of memory chips.
Orange Debuts €50 Million Ship to Fix Undersea Internet Cables
French telephone carrier Orange SA christened a new €50 million ($53 million) vessel, the Sophie Germain, strengthening the company’s out-sized role in the business of fixing undersea internet cables when they break.
Mystery Russian Plane in Pyongyang Stokes Concerns of Arms Deals
An unscheduled Russian military VIP plane touched down in Pyongyang this week, days after North Korean leader Kim Jong Un made a rare trip to his neighbor for talks the US said likely focused on arms transfers.
Mercedes Brings New SUVs to Japan Aimed at Middle-Aged Execs
Mercedes-Benz Group launched revamped versions of its GLE sport-utility vehicles in Japan on Thursday, saying it aims to target executives and business owners in their 50s with the models.
Stocks Decline as Oil Rally Fans Inflation Fears: Markets Wrap
Shares in Asia slumped while US equity futures and Treasuries showed signs of stability just as higher oil prices emboldened the higher-for-longer narrative, adding further pressure on global markets.
Hiring Delayed for New Eskom CEO After Age Dispute of Potential Candidates
The appointment of a new chief executive officer at Eskom Holdings SOC Ltd. has been delayed by a dispute over the age of the prospective candidates, Business Day reported, citing a letter from Public Enterprises Minister Pravin Gordhan to the South African power utility’s chairman.