Business

Nvidia expects first-quarter sales to exceed $5.3 bln

Nvidia Corp’s (NVDA.O) first-quarter revenue will be above its earlier forecast of $5.3 billion, the chipmaker said on Monday, as it benefits from strong demand for chips that power data centers and cryptocurrency mining. The company’s shares, which rose on the back of a slew of product announcements during the session, were trading nearly 6% […]

Business

China extends crackdown on Jack Ma’s empire with enforced revamp of Ant Group

China has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech conglomerate whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants. The overhaul, in the works for several months, includes Ant turning itself into a financial holding firm, a move expected to […]

Business

Shake-up at Airbus as defence and technology chiefs quit

Airbus on Monday announced the biggest shake-up in its top ranks since Chief Executive Guillaume Faury took the helm two years ago, sparked by the departure of two key executives. The French CEO said the shake-up, reducing its executive committee in size and doing away with the split ownership of technical resources dating back to […]

Business

Brooklyn man pleads not guilty to using Bloomberg reporter’s information for insider trading

A Brooklyn man pleaded not guilty on Monday to insider trading charges, after prosecutors accused him of using information from a Bloomberg News reporter about certain deals to trade. Jason Peltz, 38, entered his plea through his lawyer before U.S. Magistrate Judge Roanne Mann in Brooklyn. On March 23, a federal grand jury indicted Peltz […]

Business

Air France to boost China Eastern venture after share issue

Air France-KLM will expand its partnership with China Eastern Airlines (600115.SS), as the Chinese carrier contributes to a 1 billion-euro ($1.2 billion) share issue heavily backed by the French government, the airline group said on Monday. The French state will cover as much as two-thirds of a 988 million-euro capital increase by Air France-KLM, more […]

Business

Microsoft doubles down on cloud healthcare business with $16 billion Nuance buy

Microsoft Corp said on Monday it would buy artificial intelligence and speech technology firm Nuance Communications Inc (NUAN.O) for about $16 billion, as it expands cloud solutions for healthcare customers. The deal comes after the companies partnered in 2019 to automate clinical administrative work such as documentation. It shows Microsoft’s ambition to extend its leadership […]

Business

Temasek, BlackRock partnership commits initial $600 mln to fund firms reducing carbon

Singapore state investor Temasek Holdings (TEM.UL) and BlackRock (BLK.N), world’s largest asset manager, said on Tuesday they have launched a partnership to invest in firms with products and technologies that will reduce carbon emissions. BlackRock and Temasek are committing a combined $600 million in initial capital to invest in multiple funds launched by the partnership, […]