Jio Platforms, owned by Indian conglomerate Reliance Industries Ltd, will buy communications equipment maker Mimosa Networks for $60 million to bolster its expanding 5G and broadband services, the companies said on Thursday. The deal is between Radisys Corp, a unit of Jio Platforms, and US-based Airspan Networks Holdings, which owns Mimosa. Mimosa has a portfolio […]
U.S.
OakNorth is leaning towards the United States for a prospective stock market listing, as the British bank considers ways to grow in the world’s largest economy, including securing a local U.S. financial licence, chief executive Rishi Khosla told Reuters. The prospect of a U.S. listing for one of Britain’s biggest and most successful financial technology […]
U.S. stock index futures edged higher on Wednesday after hawkish comments from Federal Reserve Chair Jerome Powell fueled a selloff on Wall Street a day earlier, stoking concerns about a sharp recession and putting focus on the upcoming labor market data. The main U.S. stock indexes fell more than 1% on Tuesday, with the benchmark […]
Palantir Technologies Inc has won a contract to sell up to $99.6 million worth of software to the U.S. Department of State for monitoring the health of the diplomatic corps, the company told Reuters ahead of a Wednesday announcement. The U.S. data analytics firm said the project – Axiom – would help the Bureau of […]
South Korea’s trade minister will meet with counterparts in Washington this week to express concerns that the U.S. Chips Act could make the U.S. a less attractive investment destination, its trade ministry said. During his trip, South Korea’s trade minister Ahn Duk-geun plans to meet with senior officials from the U.S. Commerce Department and White […]
Nvidia Corp, Advanced Micro Devices Inc and other tech firms are scrambling to assess whether they must halt sales to units of China’s Inspur Group Ltd after its addition to a U.S. export blacklist last week. The United States last week added Inspur to its trade blacklist for allegedly acquiring U.S.-origin items in support of […]
A new pact to facilitate the safe transfer of EU citizens’ personal data to the United States might not come into force in time to avoid a suspension of Facebook’s transatlantic data flows, the U.S. firm’s lead European regulator said on Tuesday. Facebook owner Meta, which has warned a stoppage could force it to suspend […]
The White House said Tuesday it backs a bill in Congress to give the Biden administration new powers to ban Chinese-owned video app TikTok and other foreign technologies that could pose security threats. White House National Security Advisor Jake Sullivan said the bipartisan bill sponsored by a dozen senators “would strengthen our ability to address […]
China will form a new national financial regulatory body, consolidating oversight and replacing its banking and insurance watchdog as part of a wider government overhaul announced on Tuesday that includes plans for a national data bureau. The financial regulation proposal, presented to China’s parliament during its annual meeting, would bring supervision of the industry, excluding […]
China plans to splurge to help its chip sector overcome U.S. export curbs, but money can only do so much unless Chinese firms can break from a cycle that hinders innovation and traps them at the low end of the value chain, industry players said. The government has earmarked $140 billion that could include subsidising […]