Nvidia’s planned acquisition of the UK-based chip designer Arm from SoftBank has collapsed due to “significant regulatory challenges,” the companies said in a joint release Tuesday. The cash-and-stock deal was originally announced in 2020 and had a value at the time of $40 billion. It planned to bring together Nvidia’s AI computing platform with Arm’s vast…
Nvidia Terminates Planned $40 Billion Acquisition of UK Chip Designer Arm Due to ‘Significant Regulatory Challenges’
Musk’s SpaceX Working to Restore Tonga’s Internet: Fiji Official
SINGAPORE—Elon Musk’s satellite internet venture is helping to restore connectivity to the Pacific Island nation of Tonga, according to an official in Fiji where the work is underway. Tonga’s sole optic-fibre link to the internet and the rest of the world was severed by a volcanic eruption on Jan. 15 and only limited connectivity has…
PayPal Co-founder Peter Thiel Resigning From Meta’s Board of Directors
Billionaire tech entrepreneur Peter Thiel is resigning from the board of Facebook’s parent company Meta later this year, the company announced on Monday. Thiel, a co-founder of online payments system PayPal, was one of the earliest investors in Facebook and joined the company board in April 2005. He became a Facebook investor in 2004 when…
Waning Enthusiasm, Competition Weigh on Meta Stock in Earnings Fallout
Facebook’s parent company, Meta Platforms, extended its losses Monday, hovering around $230 a share, as the fallout from a rough earnings report intensifies. In its fourth-quarter report, the social media giant formerly known as Facebook confirmed earnings of $3.67 per share, down from $3.88 a share last year. Earnings also fell short of the market…
EU Watchdogs Call for Rapid Action to Catch up With Digital Finance
February 7, 2022
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LONDON—Rapid action is needed to update how cross-border financial services are scrutinized and consumers protected as the sector becomes digitalized with “Big Tech” playing an increased role, European Union regulators said on Monday. People are turning to social media and using smartphones to buy and sell shares, move money around bank accounts and make payments,…
Austrian Antitrust Court Gives Green Light to Facebook’s Giphy Deal
February 7, 2022
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VIENNA—An antitrust court in Austria on Monday approved with conditions Facebook’s purchase of animated images platform Giphy, in a boost for the social media giant after a UK watchdog said the deal should be reversed. Facebook bought Giphy, a website for making and sharing GIFs, a type of animated image used often in social media…
Dutch Watchdog Fines Apple Again in App Store Dispute
February 7, 2022
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AMSTERDAM—The Dutch antitrust watchdog on Monday fined Apple a further 5 million euros ($5.71 million) for failure to comply with an order to open its app store to alternative payment systems for dating apps in the Netherlands. The new fine brings the total amount levied by the Authority for Consumers and Markets against the U.S….
Rumble CEO Offers Joe Rogan $100 Million: ‘This Is Totally Legit’
February 7, 2022
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Video-sharing platform Rumble on Monday offered podcast host Joe Rogan $100 million to bring his discussions to an uncensored forum in the midst of pressure to remove him from Spotify. “We stand with you, your guests, and your legion of fans in desire for real conversation. So we’d like to offer you 100 million reasons…
Google Accused of Manipulating Search Results, PriceRunner Suing Company for $2.40 Billion
February 7, 2022
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Swedish price comparison company PriceRunner has announced Monday that a lawsuit has been filed against Google at the Patent and Market Court in Stockholm for a preliminary compensation of 2.1 billion euros ($2.40 billion), accusing Google of showing favoritism to its own services. In a Feb. 7 press release, PriceRunner cited the European General Court’s…
S&P 500, Nasdaq Rise After Turbulent Week
The S&P 500 and the Nasdaq rose on Monday after a week of choppy trading spurred on by mixed quarterly results from big technology companies. Five of the 11 major S&P sectors advanced, with consumer discretionary stocks leading morning gains. The tech-heavy Nasdaq had a choppy start to February after Facebook owner Meta Platforms lost…
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