MILAN—Italian lender UniCredit has signed an agreement with unions for 1,200 voluntary job cuts to be partly offset by 725 new hires, the country’s biggest banking union said on Thursday. The accord follows a new three-year plan to the end of 2024 presented on Dec. 9 by Chief Executive Andrea Orcel, who had taken over…
Facebook, Google CEOs Aware of Formal Advertising Market Deal: Court Filing
January 14, 2022
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WASHINGTON—Chief executives of both Google and Facebook were aware of a deal to carve up part of the online advertising market, according to an amended complaint filed by Texas and other states who have filed an antitrust lawsuit against Google. The deal with Facebook, which Google called Jedi Blue, was signed off by Google CEO…
Truss Says ‘Deal to Be Done’ on Northern Ireland Protocol as She Meets Sefcovic
Liz Truss said the European Union had a “clear responsibility” to solve the problems caused by Northern Ireland’s post-Brexit deal as she prepared for her first face-to-face talks with Maros Sefcovic. The Foreign Secretary, who assumed responsibility for the negotiations following Lord Frost’s resignation, will host European Commission vice-president Sefcovic at her Chevening country retreat…
Everything You Need to Know About AMD–Globalfoundries Deal
Chip firm Advanced Micro Devices Inc. agreed to acquire about $2.1 billion of silicon wafers from GlobalFoundries Inc. from 2022 through 2025. Previously, AMD agreed to buy $1.6 billion worth of chips between 2022 and 2024. AMD spun off its chip factory operations in 2009, leading to GlobalFoundries, and has supplied AMD since then, Reuters reports. However, GlobalFoundries in…
Cerence Stock Gains on Signing $149 Million Contract With European Automaker
Cerence Inc. forged a contract worth $149 million with a sizeable European automaker for its connected, conversational AI automotive assistant products. “This milestone deal marks another important moment for Cerence as we accelerate growth and sustain momentum with automotive customers,” said CEO Stefan Ortmanns. Cerence develops mobility-based solutions for drivers and their cars. It generates revenue…
Ondas Scoops Contract for North American Rail Lab
Ondas Holdings Inc. subsidiary Ondas Networks won a radio system order to implement the North American Rail Lab. The financial terms were not disclosed. The Rail Lab, hosted at Ondas Networks headquarters in Sunnyvale, California, serves multiple purposes. Notably, the lab is focused on multiple frequency bands and networks beyond the 900 MHz that Ondas is targeting…
Novartis Options BeiGene Anti-Cancer Therapy in $1 Billion Deal
ZURICH—Novartis has signed an option, collaboration, and license agreement with BeiGene Ltd for anti-cancer therapy ociperlimab (BGB-A1217) to expand its activities in immuno-oncology, the Swiss drugmaker said on Monday. Under terms of the agreement, Novartis will make an upfront payment to BeiGene of $300 million and pay a fee of up to $700 million if…
India Spooks Amazon by Suspending 2019 Future Group Deal, Cites Suppression of Information
NEW DELHI—India’s antitrust agency suspended Amazon.com‘s 2019 deal with Future Group on Friday, potentially denting the U.S. e-commerce giant’s attempts to block the sale of Future’s retail assets to an Indian market leader. The regulator ruled that the U.S. company had suppressed information while seeking regulatory approval on an investment into Indian retailer Future Group…
Striking Kellogg Workers Could Return After Christmas as Tentative Deal Reached
Kellogg Co. and the union representing striking workers at its U.S. breakfast cereal plants have reached a tentative agreement on a new five-year contract that could pave the way for the employees to return to work two days after Christmas. The 1,400 workers have been on strike since Oct. 5 and earlier this month overwhelmingly…
UK Antitrust Regulator Looks Into Microsoft’s $16 Billion Nuance Deal
December 13, 2021
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Britain’s antitrust regulator said on Monday it will look into Microsoft Corp.’s $16 billion purchase of artificial intelligence and speech technology firm Nuance Communications Inc. The Competition and Markets Authority (CMA), which has been stepping up its regulation of Big Tech, said it was considering if the deal would result in lesser competition in the…
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