Tag Archives: takeover

Iran announces nuke deal violations 40 years after U.S. Embassy takeover, hostage crisis

Iran announces nuke deal violations 40 years after U.S. Embassy takeover, hostage crisisThe announcement of new nuclear deal violations comes as Iran marks the anniversary of the 1979 U.S. Embassy takeover and ensuing hostage crisis.



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US tech giant Nvidia in biggest ever deal with $6.9bn takeover of Israel's Mellanox

US tech giant Nvidia in biggest ever deal with $  6.9bn takeover of Israel's MellanoxThe US computer giant Nvidia has made its biggest-ever acquisition with a $ 6.9bn (£5.3bn) takeover of Israel’s Mellanox. The deal represents a strategic shift towards cloud computing for Nvidia after a share crash at the end of last year triggered by the end of the cryptocurrency boom and slow sales of its computer game graphics chips. Nvidia is best known for graphical processors, which are used in video and game production but have also become surprisingly proficient at intensive computing tasks such as cryptocurrency mining and artificial intelligence. Its shares rose ten-fold between 2016 and last September amid booming interest in AI and the Bitcoin bubble, but lost half their value at the end of last year as cryptocurrency mining became unprofitable and sales of the graphics cards it sells to video gamers slowed, particularly in China. Mellanox’s networking technology is used within data centres, the remote stacks of powerful computers used by companies to store and process vast amounts of information. Its technology transfers data at high speeds within and between the data centres, which are increasingly in demand due to the rise of cloud computing services in which companies rent server space from Amazon, Microsoft and others. Jensen Huang, Nvidia’s chief executive, said: “The emergence of AI and data science, as well as billions of simultaneous computer users, is fueling skyrocketing demand on the world’s data centers.” The two companies have previously worked together on the world’s two most powerful supercomputers, the IBM-built systems used by the US government. Nvidia reportedly beat away competition from Intel for the acquisition. Intel has also been leaning more heavily on its data centre business as the market for personal computers shrinks. It is by far the company’s biggest acquisition to date, worth almost 20 times the $ 367m it paid for modem company Icera in 2011. Shares in Nvidia rose by more than 5pc on news of the deal.



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Japan Takeda eyes Shire takeover after rival drops bid

Japan Takeda eyes Shire takeover after rival drops bidShares in Japanese drug maker Takeda dropped Friday after a potential rival in its bid to take over Ireland’s Shire Pharmaceuticals said it was no longer considering making an offer. Analysts had raised the prospect of a bidding war between Takeda and Botox-maker Allergan after the global pharma giant said it was also considering making a bid for Shire. Takeda was trading down as much as 3.98 percent on Tokyo trade on Friday morning.



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Syrian pound soars as regime nears Ghouta takeover

Syrian pound soars as regime nears Ghouta takeoverThe Syrian pound has appreciated around 10 percent against the US dollar in recent days, as rebel fighters quit their final stronghold of Eastern Ghouta on the edges of the capital. The unofficial exchange rate in the capital was at 430 Syrian pounds per dollar on Wednesday, compared with 460 pounds the previous week. When Syria’s conflict first erupted in 2011, the currency was valued at 48 Syrian pounds per dollar but it has depreciated dramatically since then.



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Saudi Binladin Group denies govt takeover after chief detained

Saudi Binladin Group denies govt takeover after chief detainedSaudi construction giant Binladin Group denied Saturday any state takeover after its chairman was detained, but said some shares may have been transferred to the government. The firm, which has been forced to lay off tens of thousands of workers due to financial problems, said it remained a private shareholding company and was undergoing restructuring. International media this week reported Saudi Arabia’s government had taken over the firm after chairman Bakr bin Laden was detained.



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Iraq orders 24-hour truce in standoff with Kurds over Kirkuk takeover by Iraqi forces

Iraq orders 24-hour truce in standoff with Kurds over Kirkuk takeover by Iraqi forcesKurdish Peshmerga and Iraqi forces agree to a 24-hour truce after fighting broke out Oct. 16 when Iraqi forces took control of Kirkuk.



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Iraqi forces complete Kirkuk province takeover after clashes with Kurds

Iraqi forces complete Kirkuk province takeover after clashes with KurdsBy Maher Chmaytelli and Raya Jalabi BAGHDAD/ERBIL, Iraq (Reuters) – Iraqi forces on Friday took control of the last district in the oil-rich province of Kirkuk still in the hands of Kurdish Peshmerga fighters following a three-hour battle, security sources said. The district of Altun Kupri, or Perde in Kurdish, lies on the road between the city of Kirkuk – which fell to Iraqi forces on Monday – and Erbil, capital of the semi-autonomous region of Kurdistan in northern Iraq that voted in a referendum last month to secede from Iraq against Baghdad’s wishes.



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EU pauses inquiry into Bayer-Monsanto takeover

EU pauses inquiry into Bayer-Monsanto takeoverThe EU said Thursday it had “stopped the clock” on its probe into German chemical firm Bayer’s proposed mega-takeover of US agri-giant Monsanto while it waits for the companies to provide information. Brussels launched an in-depth investigation in August into the $ 66 billion (56-billion-euro) deal, which would create the world’s largest integrated pesticides and seeds company. The European Commission, which serves as the powerful anti-trust regulator for the 28-nation European Union, cited concerns it could reduce competition in key products for farmers.



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Macron's takeover of French politics is all but complete

Macron's takeover of French politics is all but completePARIS (AP) — Emmanuel Macron's takeover of French politics is all but complete. The newly elected French leader's gamble that voters wanted to throw out old faces and try something new is paying off in full — first by giving him the presidency and, on Sunday, the crucial first step toward securing the legislative power to deliver on his pledge of far-reaching change.



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