Business stories featured on GGD News
OpenAI Says Musk’s Bid for Startup Undercuts Legal Attack
Elon Musk’s all-cash bid to buy OpenAI debunks arguments he’s making in court that the artificial intelligence startup’s assets cannot be “transferred away” for “private gain,” lawyers for the maker of ChatGPT and chief executive officer Sam Altman said in a court filing.
Apple Debuts Invites App, Care+ Changes in Subscription Push
Apple Inc. rolled out a new app for creating event invitations and made changes to its AppleCare+ customer support for iPhones, part of a broader push to generate more subscription revenue.
Trump’s Revival of Trade Wars Brings Spotlight on Shein
US President Donald Trump’s tariffs on China and other countries are rocking markets and casting a pall over Chinese firms seeking to go public. US President Donald Trump’s tariffs on China and other countries are rocking markets and casting a pall over Chinese firms seeking to go public.
Charter’s Broadband Subscriber Losses Add to Woe for Cable TV
Charter Communications Inc. lost 177,000 broadband subscribers in the fourth quarter, worse than expected amid a very competitive market for internet access. Charter Communications Inc. lost 177,000 broadband subscribers in the fourth quarter, worse than expected amid a very competitive market for internet access. Bloomberg Technology
STMicro Eyes Workforce Cuts of Up to 3,000 in Chip Slump
STMicroelectronics NV is considering reducing its workforce by as much as about 6% through early retirements and attrition, according to people familiar with the matter, as the Franco-Italian chipmaker confronts a prolonged demand slump in the industrial and auto sectors. STMicroelectronics NV is considering reducing its workforce by as much as about 6% through early retirements and attrition, according to people familiar with the matter, as the Franco-Italian chipmaker confronts a prolonged demand slump in the industrial and auto sectors. Bloomberg Technology
Hotelbeds Owner HBX’s €750 Million IPO Sells Out in Hours
Spanish firm HBX Group International Plc received enough demand from investors for all the shares in its initial public offering within hours after subscriptions opened, indicating appetite for Europe’s biggest listing of the year so far. Spanish firm HBX Group International Plc received enough demand from investors for all the shares in its initial public offering within hours after subscriptions opened, indicating appetite for Europe’s biggest listing of the year so far. Bloomberg Technology
Price Tag for Amazon’s Mississippi Data Centers Jump to $16 Billion
Amazon.com Inc. is expected to spend 60% more than previously announced on a massive data center project in Mississippi, underscoring the escalating costs for artificial intelligence infrastructure. Amazon.com Inc. is expected to spend 60% more than previously announced on a massive data center project in Mississippi, underscoring the escalating costs for artificial intelligence infrastructure. Bloomberg Technology
Spirit Airlines Rejects Second Attempt to Acquire Company
Spirit Airlines has officially rejected a second acquisition bid, reaffirming its commitment to independence despite ongoing turbulence in the airline industry. The decision comes after months of speculation over Spirit’s future, with competing carriers eyeing its budget-friendly business model and valuable market share.
Planet Labs Secures $230M Deal to Build Next-Gen Satellites
Planet Labs, a leader in Earth imaging and satellite technology, has secured a $230 million contract to develop and deploy a new generation of satellites. The deal, announced earlier this week, marks a significant milestone in the company’s mission to provide high-resolution, real-time imaging of our planet.
Apollo Funds Acquires Barnes Group Inc. for $3.6B
Apollo Global Management is making another bold move in the industrial sector, acquiring Barnes Group Inc. for $3.6 billion. The deal, announced this week, positions Apollo to expand its influence in aerospace, manufacturing, and engineered products.