FCA’s board as well as Peugeot’s board to meet today on proposed $50B planned merger

On Tuesday, sources with knowledge of the matter at hand disclosed, Fiat Chrysler Automobiles NV’s board is scheduled to meet later this afternoon to consider taking the next steps toward a proposed merger with French automaker Peugeot SA. Peugeot’s board is also expected to meet this afternoon and is expected to consider a memorandum of…

Industry veteran Karl-Thomas Neumann joins opensource self-driving vehicle software stratup Apex.AI’s board

Apex.AI aims to make the Robot Operating System (ROS) more robust and failproof so that it can be deployed in commercial self-driving vehicles. Palo Alto, California-based Apex.AI, a company which strives to make open-source self-driving software reliable enough to be commercially viable has hired Karl-Thomas Neumann, an industry veteran who has been the CEO of…

British satellite operator Inmarsat Plc to go private in $3.4 billion deal

Inmarsat Plc top shareholder Lansdowne Partners and the company’s directors consider the terms of the deal to be “fair and reasonable” and expect shareholders to unanimously vote in favor of it. In a significant development, a private equity-led consortium has agreed to acquire Inmarsat Plc for nearly $3.4 billion in cash. In 2018, the British…

Facebook initiates probe into billion investor George Soros

The probe comes midst George Soros labeling Facebook as a “menace to society”. The probe is aimed at finding out whether Soros shorted the company’s stock. Following a name calling by billion investor George Soros that Facebook is a “menace to society” Sheryl Sandberg, the social media’s Chief Operating Officer has requested a probe into…

Audi to sink in $15.9 billion into autonomous driving, digitalization and e-mobility

Audi is taking a very systematic approach to the future of mobility. On Tuesday, Volkswagen’s Audi stated, it would sink in $15.9 billion (14 billion euros) through 2023 in autonomous driving, electric mobility and digitalization. For the next five years, Audi has projected its total expenditure to be around 40 billion euros, said the carmaker…

Nestle under pressure to sell its stake in L’Oreal

Activist hedge fund Third Point, led by investor Daniel Loeb, has been pressurizing Nestle to sell its stake in L’Oreal. On Monday, in a report published by the Financial Times which triggered fresh rounds of speculation, Paul Bulcke, Nestle’s Chairman, stated the company’s stake in French cosmetics firm L’Oreal was “something active on the board’s…