Sweden bans China’s Huawei and ZTE from 5G network

On Tuesday, in a significant development, Swedish regulators have banned China’s Huawei and ZTE from developing its 5G network ahead of the launch of its spectrum auction, scheduled for next month. The decision by the Swedish Post and Telecom Authority (PTS) follows assessments by the by the Swedish Armed Forces and security service. Following widespread concerns,…

Intel sells its NAND chip business to South Korea’s SK Hynix for $9 billion

In a significant development, Intel Corp has agreed to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion. The all-cash deal will propel the South Korean chipmaker to the second spot in global rankings. The development marks Intel’s efforts to divest its non-core businesse and move away from the volatile commodity…

Google Proposes More Concessions For Fitbit Deal To Win EU Approval: Reuters

Concession in its $2.1 billion acquisition of Fitbit will be given by Alphabet’s Google with the aim of appeasing the antitrust regulators of the European Union and ally its concerns, claimed a report published by Reuters citing information from sources familiar with the . According to sources, with these concessions, the deal is well set…

Warning Of $2.9 Billion Hit On Earnings Over US Quality Issues Issued By Hyundai And Kia

The total hit to Hyundai Motor and affiliate Kia Motors because of the quality issue that has been going on for years now, which has also tarnished its image and credibility, has now touched almost $5 billion as the copany now has issued a warning of another $2.9 billion of provisions related to engine issues.…

Instagram Being Probed By EU Over Usage Of Personal Data Of Children

Ireland’s Data Protection Commissioner (DPC) is currently investigating Instagram over charges of mishandling of personal data of children on its platform. If Instagram is found to have broken privacy laws a large fine could be imposed on the social media app’s owner Facebook. This announcement of the investigation comes after reports were published about Instagram…

Trial Of Its Antibody Drug For Covid -19 Paused By Eli Lilly Over Safety Concern

The United States government has paused the clinical trial being conducted by Eli Lilly and Co because of safety concerns, the company said. The trial was for an antibody treatment of Covid-19, the one taken by US President Donald Trump, and is being sponsored by the US government. In a video posted by Trump last…

Chinese Regulators Could Target Nvidia’s $40 Billion Arm Acquisition, Say Analysts

According to analysts, the efforts of Nvidia to purchase United Kingdom based chipmaker Arm from SoftBank for $40 billion could face a major barrier from regulators in China. The two companies had announced the deal in September beginning. It is expected that if the deal gets through it would create the largest chip company in…