Intel's new CEO says the company has 55% of the data centre market
TAIPEI, May 19 (Reuters) - Intel's (INTC.O), opens new tab new CEO, Lip-Bu Tan, said on Monday that the company has a 55% share of the data centre market.
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Daily Mail
an hour ago
- Daily Mail
Insurance group from Japan buys 15% slice of M&G
M&G has sold a 15 per cent stake to one of Japan's biggest life insurers in a partnership deal. Shares in the financial group rallied yesterday after it announced that Dai-ichi Life is now its largest shareholder in a long-term tie-up. The deal is expected to bring just below £4.5billion in business to M&G and about £1.5billion to Dai-ichi Life over the next five years. It is the latest example of a Japanese group teaming up with a UK firm after Tokyo-based Meiji Yasuda bought around 5 per cent of Legal & General in February. M&G shares hit their highest level since June 2021 following yesterday's announcement, but later gave up some of the gains. It still closed 5.5 per cent higher last night at 236.7p. The business has been regarded as a takeover target after speculation Australia's asset manager Macquarie was considering a £5billion bid in 2023. But M&G chief executive Andrea Rossi said that the partnership would bolster its position to compete as a standalone company. 'I can see us having a great independent future in front of us,' he said. Rossi described the partnership as a 'recognition of M&G's strengths and clear confidence in our leadership, strategy and long-term prospects'. 'It brings together two highly complementary international businesses with shared growth ambitions who aim to deliver excellent client service and sustainable shareholder returns.' The deal will allow the business to have 'even greater access to the Japanese and Asian market', Rossi added. M&G will become Dai-ichi Life's preferred asset management partner in Europe. Under the terms of the agreement, Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15 per cent stake, M&G said. Russ Mould, at broker AJ Bell, said: 'The usually staid insurance sector burst into life as M&G's strategic partnership with Dai-ichi Life generated excitement. The deal is expected to generate significant business for the company over the next five years.' And Jefferies' analyst Philip Kett said: 'There appear to be no downsides to this partnership, and we expect it to be taken well by investors.' Earlier this month, Dai-ichi Life said it would raise its stake in UK-based Capula Investment Management to 15 per cent from just below 5 per cent. And in April it bought a 15.1 per cent stake in Australian investment manager Challenger for around £408m. Tetsuya Kikuta, president and chief executive of Dai-ichi Life, said: 'We see our partnership with M&G acting as a spearhead to develop our presence across Europe and the UK, accelerating our strategy to become a global top-tier insurance group.'
Reuters
2 hours ago
- Reuters
Japan says no easy concession on US tariffs, seeks another round in June
May 30 (Reuters) - Japan and the U.S. on Friday agreed to hold another round of trade talks ahead of the G7 summit next month, Japan's top tariff negotiator said, stressing that no deal would be without concessions on all Washington's tariffs, including on autos. Japan's Economy Minister Ryosei Akazawa met with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington for 130 minutes in a fourth round of the trade negotiations. "We agreed to accelerate the talks and hold another round ahead of the G7 summit in June, where the leaders from Japan and the United States are set to meet," Akazawa told Japanese media gathered at the Japanese embassy in Washington. Japan faces a 24% tariff rate starting in July unless it can negotiate a deal with the U.S. It is also scrambling to find ways to get Washington to exempt its automakers from 25% tariffs on automobiles, Japan's biggest industry. Akazawa said Japan's position has not changed that the tariffs are not acceptable and he is "strongly urging" the U.S. to immediately reconsider and drop all the tariffs, including those levied on automobiles, auto parts, aluminum and steel. "If our requests to do that are met, we may be able to come to an agreement," Akazawa told Japanese media gathered at the Japanese embassy in Washington. "But if that is not possible, then it will be difficult for us to agree to a deal." Japanese government sources said before the latest meeting that an immediate deal was unlikely, as they would never hastily seal a deal that would not benefit Japan, particularly the automobile sector. Akazawa declined to give details of the latest discussions, but said trade expansion, non-tariff barriers and cooperation in economic security have been on the agenda at every meeting. Semiconductor supply chains and rare earths are among economic security topics, he added. He also said, while he was closely monitoring Nippon Steel's (5401.T), opens new tab possible deal for U.S. Steel (X.N), opens new tab, he could not yet comment on it due to a lack of any official announcement from the U.S. government.
The Sun
3 hours ago
- The Sun
Sir Jim Ratcliffe and Ruben Amorim ‘on collision course for huge fall-out if Bruno Fernandes is sold in transfer window'
SIR JIM RATCLIFFE risks a major falling out with Ruben Amorim should he sell Bruno Fernandes, according to reports. Manchester United captain Fernandes is being aggressively pursued by Saudi side Al-Hilal. 3 With the Red Devils on a post-season tour of Asia, the midfielder's agent has been in Riyadh meeting with Al-Hilal chiefs. The Saudi side are said to be willing to spend £100million on the 30-year-old, while offering him a three-year tax-free deal worth £200m. According to the Star, Ratcliffe is willing to cash in on Fernandes in order to ease cash-strapped United's financial woes. Amorim, however, is determined to keep his skipper - and would be "seething" should his Portuguese compatriot be flogged. Fernandes, who is said to be seriously considering Al-Hilal's offer, opened the door to an Old Trafford exit after United's Europa League final defeat to Tottenham. The midfielder said: "I have always been honest. I've always said I will be here until the club says to me that it's time to go. "I'm eager to do more, to be able to bring the club the great days. "In the day that the club thinks that I'm too much or it's time to part ways, football is like this, you never know it. But I've always said it and I keep my word in the same way. BEST ONLINE CASINOS - TOP SITES IN THE UK 3 "If the club thinks it's time to part ways because they want to do some cashing in or whatever, it's what it is, and football sometimes is like this." Asked about whether Fernandes will leave after picking him for today's 3-1 victory over Hong Kong, boss Amorim claimed: "I don't think so. Ruben Amorim bursts out laughing when asked about Man Utd star's future "I don't know for sure, nobody does. But I don't think so. "I think he wants to stay. He is saying no to a lot of things but it shows that he wants to win."
