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(Reuters) -The U.S. Federal Trade Commission is probing complaints about Telehealth platform Hims & Hers regarding its advertising and cancellation practices, according to a Bloomberg News report citing people familiar with the matter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Intel stock surges on report Trump administration mulls taking stake in company
Shares of Intel (INTC) jumped more than 7% on Thursday following a report the US government is considering taking a stake in the struggling chipmaker. According to Bloomberg, the plan could see the government help Intel build out its planned chip complex in Ohio, which the company has had to delay as part of its ongoing turnaround effort. Intel announced the facility in 2022 with an initial investment of $20 billion that could grow to $100 billion over time. The report follows President Trump's meeting with Intel CEO Lip-Bu Tan on Monday. The Ohio site was supposed to include two new manufacturing plants and start producing chips by 2025, but that's since been delayed into the 2030s. CEO Lip-Bu Tan, who took over when former CEO Pat Gelsinger was ousted by the company's board due to the slow turnaround in 2024, has since delayed the plant even further. The Trump administration is making a major push to reshore American chip manufacturing. Intel and rivals TSMC (TSM), Samsung, and others, have been working to build more chip fabricating plants in the US since the Biden administration signed the CHIPS Act in 2022. Part of Intel's plan under Gelsinger was to turn Intel into a contract chip manufacturer, similar to TSMC. But the gambit has run into trouble. So far, the foundry's main customer is still Intel, and the company is reportedly facing headwinds in getting its 18A chip technology up to the level needed to statisfy clients. Intel has signed agreements to build chips for Amazon (AMZN) and Microsoft (MSFT) using its chip designs. Trump initially called for Tan to resign as CEO of Intel due to his investments in Chinese tech firms, but backed away from the stance after meeting with him on Monday. Intel is still far away from making any meaningful headway in the AI space, ceding the market to both Nvidia and rival AMD. Earlier this week, the White House announced the US government will take a 15% cut of the sale of Nvidia and AMD chips shipped to China, an unconventional arrangement that highlights the government's increased focus on the semiconductor industry. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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BMO's transportation group, major lender to trucking, may be for sale: report
The transportation group of BMO, one of the largest lenders to the trucking industry, may be up for sale. According to a Wednesday report from Bloomberg, BMO (NYSE: BMO), the former Bank of Montreal, is 'exploring' a sale of the transportation finance business. Bloomberg, quoting 'people familiar with the matter,' said the group could bring a sales price of about $1 billion. If the deal was concluded in the next few months–if there is a deal–it would mark an almost even decade that BMO had the business. It bought the unit from GE Finance in late 2015. The quarterly earnings at BMO provide granular data on various performance metrics of its divisions, including transportation. Figures on writeoffs, allowances, provisions and impaired loans, as well as the size of the transportation unit's total book of business, can be used to draw some inference about the state of the industry. For example, gross impaired loans in the second quarter were $503 million. In the strong freight market of 2022, the quarterly figure for gross impaired loans were generally between $70 and $80 million, reflecting the radically different conditions for trucking. With a sale, that data presumably will no longer be available unless the new owner publishes it each quarter. Approximately 90% of BMO's transportation book of business is believed to be trucking. BMO's view of the importance of that sector can be seen at numerous trucking trade shows. The bank often secures the first spot at the various conferences' trade shows, impossible to miss when attendees walk through the door. An email sent to BMO seeking comment had not been returned at publication time. The bank also declined comment to Bloomberg. In its latest quarterly report for the second quarter of fiscal 2025, released in late May, BMO reported gross loans and acceptances in its transportation unit of over CA$14 billion (U.S. $10.1 billion). That was down from approximately $14.9 billion in the prior quarter. The highest book of business reported by the company's transportation sector was approximately $15.6 billion in the fourth quarter of fiscal 2023. Of the various sectors broken out by BMO, that bank of business for transportation is well down the chart compared to other lending books at BMO. The largest in the second quarter was commercial real estate at $76.9 billion. More articles by John Kingston BMO's Q2 earnings show no improvement in credit conditions for trucking TQL takes its loss in a broker liability case to the Supreme Court Truck sales in the second quarter might have been the worst performing metric of all The post BMO's transportation group, major lender to trucking, may be for sale: report appeared first on FreightWaves.