Pepco has been considering options to sell the British discounter, which has more than 800 stores, since December and warned last month that a potential sale would result in meager earnings as the business experiences “challenging trading conditions”. “This sale…
Under the deal, which brings together two former competitors in the race to develop a COVID-19 vaccine, each CureVac share will be exchanged for approximately $5.46 in BioNTech American depositary shares (ADS), BioNTech said. The deal underscores BioNTech’s expensive long-term…
The new Global Networks business will include entertainment, sports and dozens of cable TV brands such as CNN, TNT and TBS, and will be led by CFO Gunnar Wiedenfels. He will own a 20% stake in another business, Streaming and…
Since 2010, Amazon has invested $26 billion in Pennsylvania, providing 27,000 full-time and part-time jobs, as well as 37,100 indirect jobs at various facilities. Amazon will provide local communities with training and education programs, including data center technician programs, fiber…
Fraudsters are creating deepfakes, AI is generating viruses, quantum computers are cracking passwords in a matter of hours, and turning off GPS could paralyze the global economy. Forbes Ukraine retells five vulnerabilities from Wired that could become the main threat…
Founders Fund, a venture capital firm backed by billionaire Peter Thiel, led a new funding round, committing $1 billion, according to the company’s CEO, Trey Stevens. He added that this is the largest check in Founders Fund history. Stevens, the…
The hype around artificial intelligence has allowed some small startups to grow quickly. But by some estimates, none has grown as fast as Anysphere Inc., maker of the popular AI-powered coding assistant Cursor, which has surpassed $500 million in annual…
NB Strategic Capital Fund II also received additional capital commitments from its limited partners, according to a filing reviewed by Bloomberg News. The final amount exceeds the fund’s initial goal of $2.5 billion, as well as the size of its…
Under the terms of the deal, the value of the division is estimated at $3.4 billion. Kimberly-Clark will own 49% of the shares of the new company. Suzano, the world’s largest pulp supplier and a major paper manufacturer, will have…
New York-based asset manager Brookfield Asset Management plans to acquire additional land on a site in Strangnas — about 55 miles west of Stockholm — that will eventually house a 750-megawatt data center, more than double its previous plan. The…
GlobalFoundries plans to allocate $13 billion to expand existing plants in New York and Vermont, as well as allocate another $3 billion to research in advanced packaging and other technologies in the United States, the company said in a statement.…
Chart shareholders will receive 3.165 shares of Flowserve for each share they own, giving Chart investors ownership of approximately 53.5% of the combined company. The combined business will have a new name and brand upon closing, which is expected in…