Year: 2020

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Rocket Internet Has Made a $3.1 Billion Damp Squib

September 2, 2020 admin Comments Off on Rocket Internet Has Made a $3.1 Billion Damp Squib

(Bloomberg Opinion) — Imagine you and I own half each of a $100,000 sports car that has another $50,000 locked in the trunk. The problem is that I have the car keys, so you can neither drive it nor access that money. I offer to buy you out for about $50,000. Fair deal?You’d doubtless feel hard done by. Yet Oliver Samwer, chief executive officer and founder of Germany’s Rocket Internet SE, is making a similar proposition to his fellow shareholders. He wants to take the web-investment company private again, and he’s offering to buy out other investors in a way …read more […]

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Novavax Strikes Covid-19 Vaccine Deal With Canada As Investors Take Profits

September 2, 2020 admin Comments Off on Novavax Strikes Covid-19 Vaccine Deal With Canada As Investors Take Profits

Novavax reached an agreement in principle with the Government of Canada to supply up to 76 million doses of NVX-CoV2373, its COVID-19 vaccine candidate.Novavax (NVAX) and Canada expect to finalize an advance purchase agreement under which the company will supply doses of NVX-CoV2373 as early as the second quarter of 2021. The purchase arrangement will be subject to licensure of the Novavax vaccine by Health Canada.“We are pleased to work with the Canadian government on supply of our COVID-19 vaccine, an essential step to ensure broad access of our vaccine candidate,” said Novavax CEO Stanley C. Erck. “We are moving …read more […]

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Nvidia To Launch New Line Of Graphics Cards With Samsung 8nm Process This Month

September 2, 2020 admin Comments Off on Nvidia To Launch New Line Of Graphics Cards With Samsung 8nm Process This Month

Nvidia Corporation (NASDAQ: NVDA) is out with a new line of graphics cards that it claims are two times faster than the predecessors.What Happened: The company said in a statement, these second-generation Ampere RTX cards are designed using ray-tracing technology.The chips for the upcoming launch will be built by Samsung Electronics using its 8nm process as opposed to the first generation of Ampere cards, according to Bloomberg. The first generation used Taiwan Semicon Conductor Mfg Co’s (NYSE: TSM) 7nm process.Nvidia said its GeForce RTX 30 series uses faster third generation Tensor Cores and new streaming multiprocessors to boost visuals and …read more […]

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Australian TV Anchor’s Detention Shows Country’s China Problem May Worsen

September 2, 2020 admin Comments Off on Australian TV Anchor’s Detention Shows Country’s China Problem May Worsen

(Bloomberg) — China-Australia relations looked bad enough when they were sparring over wine, beef and Huawei Technologies Co.’s 5G technology. Now the detention of a high-profile television journalist risks leading to a dangerous new phase.Australia said it hasn’t been told why Chinese-born Cheng Lei, an Australian citizen who worked for eight years as an anchor at a government-run English-language news channel, was taken in two weeks ago. China also hasn’t revealed details about the case: Foreign Ministry spokeswoman Hua Chunying said Tuesday she had no information while also poking Australia.“We value China-Australia relations, but development of bilateral ties needs both …read more […]

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Exxon weighs global job cuts after unveiling Australian lay-off plan

September 2, 2020 admin Comments Off on Exxon weighs global job cuts after unveiling Australian lay-off plan

Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off programme in Australia. Exxon is the latest oil major to embark on axing jobs spurred by a historic collapse in fuel demand because of the coronavirus pandemic. “We have evaluations underway on a country-by-country basis to assess possible additional efficiencies to right-size our business and make it stronger for the future,” spokesman Casey Norton, based at the company headquarters in Irving, Texas, said in emailed comments to Reuters. …read more […]

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Tesla’s Outback Big Battery Fails to Retake Crown After Upgrade

September 2, 2020 admin Comments Off on Tesla’s Outback Big Battery Fails to Retake Crown After Upgrade

(Bloomberg) — The Tesla Inc.-installed Hornsdale battery in South Australia completed an upgrade that boosted its capacity by 50%, but fell short of winning back its title as the world’s biggest lithium-ion unit.The pioneering facility, which Elon Musk installed in 2017 after winning a bet that he could get the system up and running in 100 days to help address a power crisis, now has a capacity of 150 megawatts, project owner Neoen SA said Wednesday. A 230-megawatt system in California that started last month is currently the world’s biggest.Grids are increasingly looking to energy storage to smooth out power …read more […]