The Federal Trade Commission on Monday sued to block Tapestry’s $8.5 billion acquisition of Capri, a blockbuster fashion tie-up that would bring together Coach, Kate Spade, Michael Kors and Versace. The lawsuit is a rare move by the agency to block a fashion deal, given that the industry does not suffer from a lack of…
The Biden administration will give Micron up to $6.1 billion in grants to help build its semiconductor plants in New York and Idaho, the latest multibillion dollar award aimed at ramping up the nation’s production of vital semiconductors. Senator Chuck Schumer, Democrat of New York and the majority leader, announced the grant on Thursday and…
Facing criticism that it is overly beholden to Elon Musk, Tesla’s board of directors said on Wednesday that it would essentially give him everything he wanted, including the biggest pay package in corporate history. If setbacks in court and the car market have induced any soul searching among Tesla’s board, there was no sign of…
The Biden administration will give up to $6.4 billion in grants to Samsung, one of the world’s largest chipmakers, the latest in a slew of awards intended to shore up domestic production of cutting-edge semiconductors. The money will help Samsung, the South Korean company, fund its new chip manufacturing hub in Taylor, Texas, and expand…
The Biden administration will award up to $6.6 billion in grants to Taiwan Semiconductor Manufacturing Company, the leading maker of the most advanced microchips, in a bid to bring some of the most cutting-edge semiconductor technology to the United States. The funds, which come from the bipartisan CHIPS and Science Act, will help support the…
Amazon said on Wednesday that it had added $2.75 billion to its investment in Anthropic, a start-up that competes with companies like OpenAI and Google in the race to build cutting-edge A.I. systems. The investment comes six months after Amazon invested $1.25 billion in Anthropic, making the San Francisco start-up Amazon’s most important A.I. partner….
The internet has not been kind to Condé Nast, the publisher of starry magazines, like Vogue and Vanity Fair, whose fortunes and influence have waned in the digital age. But while the web taketh, it occasionally giveth, too. The Newhouse family, the media dynasty that controls Condé Nast through its holding company, Advance Publications, is…
President Biden plans to announce on Wednesday that his administration will award up to $8.5 billion in grants to Intel, a major investment to bolster the nation’s semiconductor production, during a tour of battleground states meant to sell his economic agenda. Mr. Biden is set to make the announcement during a visit to the Intel…
The government of Saudi Arabia plans to create a fund of about $40 billion to invest in artificial intelligence, according to three people briefed on the plans — the latest sign of the gold rush toward a technology that has already begun reshaping how people live and work. In recent weeks, representatives of Saudi Arabia’s…
Apple on Monday was fined 1.8 billion euros ($1.95 billion) by European Union regulators for thwarting competition among music streaming rivals, a severe punishment levied against the tech giant in a long-simmering battle over the powerful role it plays as gatekeeper of the App Store. The penalty, announced by the E.U. antitrust regulator, is the…
