Five Nigerian oil and gas companies are preparing to submit bids this month for Royal Dutch Shell’s onshore oilfields in a sale that could fetch up to $3 billion, three sources involved in the process told Reuters. Shell started talks with the Nigerian government last year about selling its stake in the West African country’s onshore fields, where it has...
Microsoft seeks to settle EU antitrust concerns over Teams
Microsoft is seeking to address European Union (EU) antitrust concerns about its business practices prompted by a complaint from Salesforce.com workspace messaging app Slack. The move, which may head off the opening of a formal EU antitrust investigation, underscores once again Microsoft’s new preference for working out issues with regulators rather than jousting with them as it did in the...
Nokia smartphone maker HMD Global files EU antitrust complaint against VoiceAge EVS
A deep dive into how HMD Global Oy, the exclusive licensee of Nokia-branded smartphones, has filed a complaint to European Union antitrust regulators against VoiceAge EVS’s patent practices and royalty rates. HMD and VoiceAge EVS are fighting in courts in Germany, the United States and Brazil over various patents for technology related to voice calls.
Nvidia offers new advanced chip for China that meets U.S. export controls
U.S. chip maker Nvidia Corp is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands. The chip, called the A800, represents the first reported effort by a U.S. semiconductor company to create advanced processors for China that follow new U.S. trade rules.
Output of Apple iPhones at major China plant could fall 30% amid COVID curbs
Production of Apple’s iPhones could slump by as much as 30% at one of the world’s biggest factories next month due to tightening COVID-19 curbs in China.
Hedge fund Ancora seeks ouster of Kohl’s CEO, chairman
Ancora Holdings, one of the hedge funds that spearheaded a board shake-up at Kohl’s Corp, is now pushing for the removal of the U.S. retailer’s chief executive and board chairman. The move marks the beginning of a new round of shareholder unrest for Kohl’s after the company explored a sale and decided in July to remain independent, leading to a...
Germany’s Speira set to win EU nod for RAB deal with asset sale offer
Private equity firm KPS Capital Partners’ German aluminium smelter Speira is set to gain European Union (EU) antitrust approval for its plan to buy aluminium recycler Real Alloy Europe with its offer to sell two plants to address EU concerns.
Scores of Google rivals want EU tech law used in antitrust case
More than 40 European rivals to Google’s shopping service urged European Union (EU) antitrust regulators to use newly adopted tech rules to ensure the Alphabet unit complies with a 2017 EU order to allow more competition on its search page. The European Commission fined Google 2.4 billion euros five years ago and told the firm to stop favouring its shopping...
Exxon exits Russia empty-handed with oil project ‘unilaterally terminated’
Exxon Mobil Corp said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. Exxon did not say if it received any compensation for the assets, which it had valued at more than $4 billion.
Toshiba’s preferred bidder offers price short of key 6,000 yen a share
The preferred bidder to buy out Toshiba Corp has offered to pay less than the widely regarded threshold of 6,000 yen a share, indicating the premium for the Japanese conglomerate may not be as rich as investors had hoped.