Baidu prepares to launch driverless taxi in Europe, WSJ reports
FILE PHOTO: A car of Baidu's autonomous ride-hailing service platform Apollo Go drives on a street in Shenzhen, Guangdong province, China July 29, 2022. REUTERS/David Kirton/File Photo
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The Star
an hour ago
- The Star
Qualcomm strengthens AI portfolio with $2.4 billion Alphawave deal
A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration (Reuters) -U.S. chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion as part of efforts to strengthen its artificial intelligence technology. Alphawave shareholders will receive 183 pence per share, a nearly 96% premium to the price immediately before Qualcomm disclosed its interest in the company. The shares jumped 22% in early London trade to just below the offer price. U.S.-based firms have been snapping up British assets, taking advantage of a market that is plagued by comparatively weaker valuations and stunted growth. Alphawave, which designs and licenses semiconductor technology for data centers, networking and storage, had garnered takeover interest from Qualcomm and SoftBank-owned chip tech provider Arm in early April for its 'serdes' technology. The technology underpins the speed at which data is processed by chips - crucial for AI development - and serves as the foundation for Broadcom's and Marvell Technology's multibillion-dollar bespoke chip businesses. Arm walked away after initial discussions with Alphawave, Reuters exclusively reported in April citing sources. Qualcomm also tabled two alternative all-share offers to Alphawave's shareholders, after receiving multiple extensions from the UK's takeover panel to table a firm offer. The British company said it considers the terms of the cash offer to be fair and reasonable and intends to unanimously recommend it to its shareholders. Alphawave also completed the disposal of its stake in WiseWave, its joint venture with Chinese investment firm Wise Road Capital, to existing state shareholders on Monday. (Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee, Kirsten Donovan)
The Star
2 hours ago
- The Star
Asian equities rise ahead of US-China trade talks, FX largely flat
Most emerging Asian equities rose on Monday ahead of the crucial trade talks between the U.S. and China in London later in the day, while regional currencies remained subdued against a steady dollar. Top trade representatives from Washington and Beijing will meet for talks aimed at defusing the high-stakes trade disputes between the world's two largest economies, which have flared up in recent weeks. The second round of meetings comes four days after U.S. President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. "The U.S. and China will be holding formal talks around hashing out their differences and trying to reach a trade deal has provided some positive sentiment to markets in the region", said Khoon Goh, head of Asia research at ANZ. MSCI's gauge of Asian emerging market equities rose as much as 1% to its highest level since October 2024. Taiwan stocks rose 0.7% and Singapore shares added 0.2%. Chinese stocks gained 0.3%. South Korean shares climbed 1.7%, supported by post-election policy optimism under newly elected President Lee Jae-myung. The benchmark index had gained 4% last week. A positive session on Wall Street on Friday, driven by better-than-expected U.S. jobs data, helped ease concerns over a potential U.S. recession and is lifting investor confidence today, Goh added. Data showed that nonfarm payrolls increased by 139,000 jobs last month fewer, than the 147,000 jobs added in April but exceeding the 130,000 gain forecast in a Reuters poll of economists. Regional currencies were largely flat, with the Singapore dollar rising 0.2% and the Malaysian ringgit falling 0.2%. The dollar slipped 0.1%, retracing part of the 0.5% gain it posted on Friday, as initial enthusiasm over a strong U.S. employment report gave way to caution ahead of key U.S.-China trade talks. Analysts at Nomura expect markets to remain choppy and range-bound through summer amid ongoing tariff uncertainties. "Market attention remains fixated on the expiration of the 90-day pause on tariffs (subject to court rulings)". Markets in Indonesia were closed for a public holiday. HIGHLIGHTS: ** South Korea president calls for measures to respond to rising prices ** BOJ must ensure fiscal considerations don't overtake mandate, deputy governor says - Reuters
New Straits Times
2 hours ago
- New Straits Times
Asian equities rise ahead of US-China trade talks, FX largely flat
SINGAPORE/HONG KONG: Most emerging Asian equities rose on Monday ahead of the crucial trade talks between the US and China in London later in the day, while regional currencies remained subdued against a steady dollar. Top trade representatives from Washington and Beijing will meet for talks aimed at defusing the high-stakes trade disputes between the world's two largest economies, which have flared up in recent weeks. The second round of meetings comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. "The US and China will be holding formal talks around hashing out their differences and trying to reach a trade deal has provided some positive sentiment to markets in the region", said Khoon Goh, head of Asia research at ANZ. MSCI's gauge of Asian emerging market equities rose as much as 1 per cent to its highest level since October 2024. Taiwan stocks rose 0.7 per cent and Singapore shares added 0.2 per cent. Chinese stocks gained 0.3 per cent. South Korean shares climbed 1.7 per cent, supported by post-election policy optimism under newly elected President Lee Jae-myung. The benchmark index had gained 4 per cent last week. A positive session on Wall Street on Friday, driven by better-than-expected US jobs data, helped ease concerns over a potential US recession and is lifting investor confidence today, Goh added. Data showed that nonfarm payrolls increased by 139,000 jobs last month fewer, than the 147,000 jobs added in April but exceeding the 130,000 gain forecast in a Reuters poll of economists. Regional currencies were largely flat, with the Singapore dollar rising 0.2 per cent and the Malaysian ringgit falling 0.2 per cent. The dollar slipped 0.1 per cent, retracing part of the 0.5 per cent gain it posted on Friday, as initial enthusiasm over a strong US employment report gave way to caution ahead of key US-China trade talks. Analysts at Nomura expect markets to remain choppy and range-bound through summer amid ongoing tariff uncertainties. "Market attention remains fixated on the expiration of the 90-day pause on tariffs (subject to court rulings)". Markets in Indonesia were closed for a public holiday.
