U.S. chipmaker Intel Corp will spend $25 billion on a new factory in Israel, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country. The factory in Kiryat Gat is due to open in 2027, to operate through 2035 at least and to employ thousands of people, Israel’s Finance Ministry said….
Intel to Invest $25 Billion in Israel Factory in Record Deal, Netanyahu Says
SVB Agrees to Sell Its Investment Banking Division
SVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by funds managed by The Baupost Group. The bidder group led by Leerink, who is chief executive of SVB Securities, will acquire the investment banking business for a combination of cash,…
Communications Minister Requests Briefing on Public Broadcaster’s Staff Cuts
June 18, 2023
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Australia’s communication minister, Michelle Rowland, has requested a briefing on the national broadcaster’s decision to axe 120 roles, including its political editor, Andrew Probyn. This comes after the move received blowback from senior media and public figures in Australia and comes as management attempts to streamline the outlet to attract younger audiences. “This is a…
The Growing Threat of Deepfake AI Means Every Business Needs a Response Plan
June 18, 2023
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AI researchers are calling on every business and organisation to develop a response plan to the growing threat of deep fake cyber attacks, as the perils are real, according to researchers from the Queensland University of Technology (QUT). In a paper published this year entitled ‘Brace Yourself! Why managers should adopt a synthetic media incident response playbook…
Microsoft Says Early June Disruptions to Outlook, Cloud Platform Were Cyberattacks
BOSTON—In early June, sporadic but serious service disruptions plagued Microsoft’s flagship office suite—including the Outlook email and OneDrive file-sharing apps—and cloud computing platform. A shadowy hacktivist group claimed responsibility, saying it flooded the sites with junk traffic in distributed denial-of-service (DDoS) attacks. Initially reticent to name the cause, Microsoft has now disclosed that DDoS attacks…
Stellantis No Longer Stocking Gasoline Models With Dealers in 14 States
June 18, 2023
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Carmaker Stellantis has stopped stocking gasoline vehicle models of its Jeep Wrangler brand in many states following stringent emission standards passed in the regions. Stellantis is no longer allocating gasoline-only Jeep Wrangler models to dealerships in the 14 states that follow emission guidelines set by the California Air Resources Board (CARB), according to a June…
Under Court Deal, Binance Can Continue US Operations as It Battles SEC Fraud Charges
The U.S. Securities and Exchange Commission and Binance have reached an agreement in court that lets the world’s largest cryptocurrency exchange continue to operate in the United States as it battles SEC fraud charges. Under a consent order filed Saturday, the defendants in the June 5 lawsuit agreed to repatriate all assets held for the…
Highway Safety Agency Reports Power Problems in 2022 Hyundai Ioniq 5 SUVs
DETROIT—Multiple U.S. owners of Hyundai’s popular Ioniq 5 electric SUV have complained of completely or partially losing propulsive power, many after hearing a loud popping noise, the National Highway Traffic Safety Administration said Saturday. Hyundai said it would offer a software update beginning next month and replace affected components if necessary. The NHTSA said in…
Italy Restricts Chinese Company’s Sway Over Major Italian Manufacturer
June 17, 2023
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Italy has approved measures to limit the control of a Chinese state-owned shareholder over the Italian tiremaker Pirelli, citing reasons of national security. Rome’s decision comes after Sinochem, Pirelli’s largest shareholder with a 37 percent stake, notified the Italian government in March of plans to update an existing shareholder pact with Camfin, which is controlled…
Department of Defense Signs Deal to Boost Cobalt Supply Chains
The U.S. Department of Defense (DoD), on June 15, entered into an agreement with the United States arm of Australian miner Jervois Global Limited to conduct feasibility studies to expand cobalt extraction in Idaho. The $15 million funding agreement will enable Jervois Mining USA to undertake mineral resource drilling to expand currently known cobalt resources…
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