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☆ Peter Thiel was an FBI informant. Here's how you could become one.
▼ + stars: | 2023-10-22 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +5 min

Billionaire megadonor and Trump supporter Peter Thiel became an FBI informant in 2021, Insider reported. What does an FBI informant do? The main responsibility of an FBI informant is, as the name suggests, to provide information and intelligence to the bureau. According to an internal FBI guide, the FBI can recruit lawyers, reporters, clergy members, prison officials, and even minors and individuals who live overseas. They "will be either an 'FBI source' or a 'former FBI source' and, in turn, his or her conduct or misconduct will reflect upon the FBI."

Persons: megadonor, Trump, Peter Thiel, —, J.D, Vance, Blake Masters, Charles Johnson, Johnson, Thiel, Johnathan Buma, They'll, it's Organizations: FBI, Service, Intercept, intel, CHS Locations: Arizona, Silicon, Los Angeles

☆ After a robust third quarter, US economic growth will likely slow. That's good for the prospect of rate cuts next year.
▼ + stars: | 2023-10-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The central bank also doesn’t have any incentive to restrict the economy through elevated interest rates if inflation is already under control. The US central bank has raised interest rates 11 times since March 2022 to their highest level in 22 years. The US Commerce Department reports new home sales in September. The US Commerce Department reports third-quarter gross domestic product along with September figures on new durable-goods orders. The US Labor Department reports the number of new applications for jobless benefits in the week ended October 21.

Persons: Jerome Powell, ” Gregory Daco, ” Diane Swonk, Donald Trump, Colin Kaepernick’s, Bud Light’s, Elliott Gotkine, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, , Sherwin, Williams, Clark, General, Hess, Rowe Price Organizations: CNN Business, Bell, DC CNN, The Commerce Department, Federal Reserve, Treasury, KPMG, BlackRock, America, Nike, Yale School of Management, Microsoft, ” Disney, Sonnenfeld, Tottenham Hotspur, Whirlpool, Verizon, General Electric, Barclays, 3M, General Motors, Spotify, Quest Diagnostics, Mobile, Boeing, General Dynamics, Old Dominion, Hilton, Meta, IBM, US Commerce Department, Mastercard, Merck, Comcast, UPS, Myers Squibb, Northrop Grumman, Valero, The Hershey Company, Amazon, Intel, European Central Bank, US Labor Department, National Association of Realtors, Exxon Mobil, Chevron, Colgate, Palmolive, Phillips, University of Michigan Locations: Washington, EY, Israel, United States, United Kingdom, London, Gaza, Kimberly, Haliburton, Old, Bristol, AbbVie

☆ Russia's Kinzhal ballistic missile performs poorly, despite Putin's hype they're unstoppable, says UK intel
▼ + stars: | 2023-10-21 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Putin recently said Russia will begin patrolling the Black Sea using jets carrying Kinzhal missiles. Russia has much hyped the Kinzhal missile, but experts have said its capabilities are exaggerated. Ukraine said it shot down a Kinzhal missile with a US-made Patriot interceptor in May. Days later, it claimed it shot down an unprecedented six Russian Kinzhal missiles over Kyiv. AdvertisementAdvertisementThe destruction of the Kinzhal missiles was seen as a psychological blow for Russia.

Persons: Putin, —, Vladimir Putin, Kinzhal, Sergey Shoigu, Ryan Pickrell Organizations: MoD, Service, UK's Ministry of Defense, UK Ministry of Defense, Russian Locations: Russia, Ukraine, Moscow, Russian

☆ My startup's AI tool is helping Ukraine on the battlefield
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

He explains how Ukraine is using the company's AI tool to streamline intelligence gathering. The world before February 24, 2022 was a difficult place for defense tech startups. But since Russia's invasion of Ukraine there's been a paradigm shift. Now, my company, SensusQ, is applying the AI revolution to the defense sector and helping Ukraine on the battlefield. AdvertisementAdvertisementThe SensusQ AI system collates intelligence from multiple sources.

Persons: Erik Kannike, Kannike, —, Ukraine there's, James Bond, There's, they're, Europe There's Organizations: Service, NATO, intel, Spotify, Anadolu Agency Locations: Estonian, Ukraine, Estonia, Russia, Europe, Ukrainian

Company bosses have vowed never to hire members of a university's student groups that condemned Israel. The fallout from the Israel-Hamas war has spilled into workplaces everywhere, as top leaders of prominent companies weigh in with their views while workers complain their voices are not being heard. Starbucks filed a lawsuit to stop Starbucks Workers United from using its name and a similar logo. Workers United, the parent union of Starbucks Workers United, responded with its own lawsuit saying Starbucks defamed the union by implying it supports terrorism. Starbucks Workers United tweeted a longer message on Friday denouncing Israel’s “occupation” and “threats of genocide Palestinians face” while also condemning antisemitism and Islamophobia.

Persons: Israel, J.P Morgan Chase, Goldman Sachs, Albert Bourla, Pfizer, ” Bourla, Paddy Cosgrave, “, David Marcus, Cosgrave, Jonathan Neman, Winston, Strawn, Isra, Abuhasna, Israel’s, Angela Berg, Perelaks, Berg, Julie Sweet, David, Allison Grinberg, Funes, didn't, ”, Grinberg, Dee, Ann Durbin Organizations: Starbucks, Company, Hamas, U.S, Google, Pfizer, Summit, Siemens, Intel, Harvard, New York University, Student Bar Association, Islamic Relations, Palestinian, Starbucks Workers, . Workers United, Starbucks Workers United, Accenture, Associated Press, Liberty Mutual, Israel . Liberty Mutual Locations: Israel, Gaza, Chicago, Palestinian American, U.S, Palestine, Boston, Funes

☆ Web Summit Chief Steps Down Over Israel Remarks
▼ + stars: | 2023-10-21 | by ( Michael J. De La Merced | More About Michael J. De La Merced | ) www.nytimes.com time to read: +2 min

The chief executive of Web Summit, one of Europe’s biggest technology conferences, stepped down on Saturday after major sponsors and speakers withdrew from the event, set for next month, following backlash over his public criticism of Israel’s response to the Hamas attacks. “I sincerely apologize again for any hurt I have caused.”A spokeswoman for Web Summit said that the organization aimed to appoint a new chief executive as soon as possible. Web Summit said on Friday that it expected about 70,000 people to attend, about the same as last year. Among those to drop out were Ravi Gupta, a partner at Sequoia Capital, and Garry Tan, the chief executive of the technology incubator Y Combinator. But by Tuesday, he published an apology on Web Summit’s site in which he said he defended “Israel’s right to exist and to defend itself.”

Persons: Paddy Cosgrave, —, ”, “, Cosgrave’s, Ravi Gupta, Garry Tan, Cosgrave Organizations: Web, Google, Intel, Meta, Siemens, Web Summit, Western, Sequoia Capital Locations: Irish, Lisbon, Israel

NEW YORK (AP) — Paddy Cosgrave, the chief executive officer of a prominent European tech conference called Web Summit, resigned from his role on Saturday amid backlash for his public statements that suggested Israel was committing war crimes. A spokesperson for Web Summit, which organizes one of the world's largest tech conferences every year, said in an e-mailed statement sent to The Associated Press that it will appoint a new CEO, and the conference will go ahead next month in Lisbon as planned. Jewish groups have criticized tepid responses or slow reactions to the Oct. 7 Hamas rampage that killed 1,400 people in Israel and triggered the latest war. ”“War crimes are war crimes even when committed by allies, and should be called out for what they are,” he added. not commit war crimes.

Persons: — Paddy Cosgrave, Israel, Cosgrave, ” “, ”, Cosgrave’s, Anne Organizations: Web, Associated Press, Hamas, Intel, Meta, Google Locations: Lisbon, Irish, Israel, Gaza, Geneva

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

☆ Where's the Su-57? The war in Ukraine is what fifth-generation fighter jets were made for, but Russia's Felon has largely been missing in action
▼ + stars: | 2023-10-21 | by ( Jake Epstein | ) www.businessinsider.com time to read: +10 min

Russian state media has touted the Su-57 fighter jet as a formidable, fifth-generation aircraft. Sukhoi Su-57 fighter jets perform at the MAKS 2019 air show in Zhukovsky, outside Moscow, Russia, August 27, 2019. Sukhoi Su-57 jet fighter performs during International military-technical forum "Army-2020" at Kubinka airbase in Moscow Region, Russia August 25, 2020. So why is it that the Su-57 isn't doing what a true fifth-generation stealth fighter should theoretically be able to do in Ukraine? AdvertisementAdvertisementSukhoi Su-57 fighter jets perform at the MAKS 2019 air show in Zhukovsky, outside Moscow, Russia, August 27, 2019.

Persons: it's, —, there's, Mike Dahm, Sukhoi Su, Aleksey Nikolskyi, haven't, They're, Assad, Sergei Shoigu, Maxim Shemetov There's, Su, Russia's, Justin Bronk, Bronk, Vladimir Putin, Recep Tayyip Erdogan, Maxim Shemetov, Dahm, There's, that's Organizations: Aviation, intel, Service, NATO, US, Mitchell Institute for Aerospace Studies, Sputnik, REUTERS, Russian, Ukraine, International, Army, Sukhoi, Royal United Services Institute, Aircraft Locations: Ukraine, Russia, Moscow, Zhukovsky, Kremlin, Syria, Kubinka, Moscow Region, Russian, Ukrainian, NATO

☆ Web Summit CEO Paddy Cosgrave steps down in wake of controversy over his Israel comments
▼ + stars: | 2023-10-21 | by ( Lakshmi Varanasi | Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Paddy Cosgrave, the CEO of Web Summit, announced Saturday he's stepping down immediately. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementPaddy Cosgrave, the CEO of Web Summit, said Saturday he was resigning with immediate effect. The conference — one of Europe's biggest tech events — is to take place November 13 to 16 in Lisbon, with 70,000 delegates, a Web Summit spokesperson previously told Insider. A representative said a new CEO would be appointed as soon as possible and that the conference would proceed as planned.

Persons: Paddy Cosgrave, Cosgrave, — Organizations: Web Summit, Service, Web, Intel, Siemens Locations: Israel, Geneva, Lisbon

Worries are growing about how much the turmoil could cost the global economy. Brent crude, the global oil benchmark, hit a three-week high this on Fridayfears that a military escalation could disrupt already tight supplies. In a speech largely focused on inflation, interest rates and economic growth, Jay Powell, the central bank’s chair, warned on Thursday that “geopolitical tensions are highly elevated and pose important risks to global economic activity.”The Middle East is becoming a wild card for the global economy. That would probably sap growth but might also slow the economy enough to negate the need for an additional interest-rate increase. The measures were announced days after the U.S. imposed tighter restrictions on sales of more advanced semiconductors to China.

Persons: Biden, —, Brent, Jay Powell, Powell, ” Powell, Kamala Harris, Jay Monahan, David Zaslav, Jim Jordan, Patrick McHenry, Jordan, there’s, Fran Drescher, George Clooney, ” Drescher, Sidney Powell, Donald Trump’s Organizations: Gaza, Israel, U.S . Navy, Intel, Siemens, European Commission, Digital Services, PGA, Warner Bros, Hollywood, SAG, Trump Locations: Mideast, Israel, Ukraine, Lebanon, U.S, Iran, Yemen, Syria, Iraq, Lisbon, Ohio, Trump . China, Beijing, China

☆ Ukraine's first ATACMS strikes may leave a lasting impact on Russia's airpower and send it scrambling to pull bases back from the front lines, Western intel says
▼ + stars: | 2023-10-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine revealed it has ATACMS this week after launching several strikes on Russian airbases. The attack destroyed multiple helicopters and other weaponry, Kyiv's defense ministry said. According to Western intelligence, this may cause lasting damage to Russian airpower and force a change in basing. On Tuesday, Ukraine's special operations forces used ATACMS to carry out strikes on Russian airfields in Berdyansk and Luhansk — two locations in Russian-occupied territory. —Defense of Ukraine (@DefenceU) October 18, 2023Russia has had to do this before in response to other Western weapons.

Persons: —, there's, wishlist, Volodymyr Zelenskyy, Biden, Mykhailo Podolyak, Zelenskyy Organizations: Service, MGM, Tactical Missile Systems, —, Artillery Locations: Ukraine, Moscow, Berdyansk, Luhansk, Russia, Azov, Russian, France, Sevastopol, Washington, United States

☆ 'Real Bad with a capital B': Ex-prosecutor says Trump should be worried after former lawyers agree to plea deals and turn on him
▼ + stars: | 2023-10-20 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

A former prosecutor saidTrump should be worried about his ex-attorneys' plea deals in Georgia. Sidney Powell and Kenneth Chesebro struck deals in the Georgia 2020 election interference case. He emphasized that it's "real bad with a capital B" for Trump. Additionally, Bederow said, the plea deals will likely bolster the public's perception in the legitimacy of the charges and could prompt other co-defendants in the case to turn on Trump. Trump's team downplayed the significance of the plea deals in a statement.

Persons: saidTrump, Sidney Powell, Kenneth Chesebro, Trump, —, Donald Trump, Mark Bederow, Bederow, Nobody, it's Trump, Powell, Rudy Giuliani, Jenna Ellis, Mark Meadows, Chesebro, Fani Willis, they're, deprives Trump, Steve Sadow, Grace Goodwin Organizations: Service, Trump, New York City, White House, GOP, Getty, Fulton, intel Locations: Georgia, New York, Fulton County, Manhattan, Powell, Fulton

But those reports are now at odds with initial American intelligence, which subsequently concluded that the Israel Defense Forces were not responsible for the explosion. The dispute has laid bare long-standing and increasingly passionate disagreements among congressional Democrats over the party’s relationship with Israel – and, now, how to position the party as the deadly conflict in Israel and Gaza escalates. “That’s a vile position to take,” Florida Rep. Debbie Wasserman Schultz told CNN, suggesting that Tlaib should review intelligence made available to House members. “That’s what’s been really painful – just continue to watch people think it’s OK to bomb a hospital, where children,” Tlaib said. “It’s truly disturbing that Members of Congress rushed to blame Israel for the hospital tragedy in Gaza,” Fetterman wrote.

Persons: Rashida, Israel, Israel –, Joe Biden, Alexandria Ocasio, Cortez, Ro Khanna, “, Debbie Wasserman Schultz, Jared Moskowitz, Hakeem Jeffries ’, Ilhan Omar, Jeffries, Biden, Israel’s, “ That’s what’s, ” Tlaib, ‘, we’re, ”, we’ve, Tlaib, Pennsylvania Sen, John Fetterman, ” Fetterman, Omar, –, Steny Hoyer, ” Hoyer, Ocasio Cortez, Ayanna Pressley, it’s, Nancy Pelosi, Cori Bush, ” Bush Organizations: CNN, Democrats, Capitol, Michigan Rep, Israel Defense Forces, Israel, New York Rep, California Democrat, ”, Minnesota, Michigan Democrat, Democrat, intel, Pennsylvania, Democratic, Maryland Democrat, Progressives, House Democratic Caucus, Missouri Rep Locations: Gaza, Israel, Alexandria, California, Palestinian American, ” Florida, Florida, Tlaib, Michigan, United States, “, Maryland, Massachusetts

☆ Wall Street braces for big tech earnings and key economic data in the week ahead as Treasury yields rise
▼ + stars: | 2023-10-20 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Major earnings reports and economic data will be in focus next week as investors seek clarity on how the Federal Reserve will proceed from here. But next week will bring the lion's share of results including reports from mega-cap darlings Alphabet, Amazon , Meta Platforms and Microsoft . While the S & P 500 is higher by 10% in 2023, the equal-weighted index is down slightly. Of note, Tesla shares sank more than 9% on Thursday following a pessimistic economic outlook from CEO Elon Musk during the company's earnings call. Its the S & P 500's first weekly loss in three weeks.

Persons: bode, Elon Musk, We're, Sam Stovall, it's, Raphael Bostic, Ed Clissold, Ned Davis, Clissold, Katie Stockton, Rob Ginsberg, I'm, CFRA's Stovall, Stovall, Sherwin, Williams, Kimberly, Hess, Raymond James Financial, Keurig Dr Pepper, Northrop, Willis Towers Watson, Stanley Black, Rowe Price Organizations: Federal Reserve, Microsoft, Investors, CFRA, Dow Jones, Treasury, Fed, Atlanta Federal Reserve, Ned, Ned Davis Research, Wolfe Research, Chicago, P, PMI, P Global PMI Manufacturing, P Global PMI Services, Richmond Fed, Visa, Texas Instruments, General Electric, NextEra Energy, Raytheon Technologies, Dow, Inc, General Motors, Halliburton, Coca, Corning, Hilton Worldwide, General Dynamics, Dominion Freight, Mobile US, Boeing, Raymond, Technology, Whirlpool, International Business Machines, O'Reilly, Honeywell, Northrop Grumman, Mastercard, Amazon, Royal Caribbean Group, Tractor Supply, United Parcel Service, Hasbro, Southwest Airlines, Comcast, Hershey, Intel, L3Harris Technologies, Ford Motor, Energy, Chevron, Decker, Exxon Mobil, Colgate, Palmolive Locations: U.S, Atlanta, AbbVie

☆ Inside Passalacqua, the 'world's best hotel'
▼ + stars: | 2023-10-19 | by ( Maria Pasquale | ) edition.cnn.com time to read: +8 min

CNN —The “best hotel in the world” was built by a pope and was regularly visited by one of Italy’s most famous opera composers. On 19 September in London at the inaugural World’s 50 Best Hotels, the hotel on Lake Como was named number one. Passalacqua didn’t invent the term villeggiatura, but her every detail embodies it – a romantic 18th century villa turned faultless luxury hotel where you come to exhale and leave your worries behind. Rooms without a lake view start at 1,300 euros ($1,381) per night or 1,700 euros ($1,806) for a view in November – lowest season. Next summer, rates rise to 2,300 euros ($2,443) for a standard room without a lake view, or 3,200 ($3,400) for the cheapest room with a view.

Persons: we’ll, Stanley Tucci, Napoleon Bonaparte, Winston Churchill, –, Silvio Vettorello, “, Passalacqua, Vincenzo Bellini, Stefan Giftthaler Passalacqua, Antonella Mallone, Paolo De Santis, Valentina De Santis, Valentina, De Santis, “ Passalacqua, ”, Ruben Ortiz, Passalacqua –, Vincenzo Bellini –, Alessandro Rinaldi, Vettorello, Jane Austen, ” Maria Pasquale, Rome Organizations: CNN, intel, Scottish Highlands, Yorkshire Moors Locations: London, Como, Carrara, Verona, Milanese, Moltrasio, Lake Como, Italian, Italy, Yorkshire, Rome

☆ U.S. intel says Gaza hospital death toll likely between 100-300
▼ + stars: | 2023-10-19 | by ( Jonathan Landay | ) www.reuters.com time to read: +2 min

Palestinian officials said 471 people were killed in the blast at Al-Ahli al-Arabi Hospital late on Tuesday. Gaza's health ministry blamed an Israeli air strike, while Israel said the blast was caused by a failed rocket launch by militants. "We judge that Israel was not responsible," said the unclassified U.S. intelligence report. We are still assessing the likely casualty figures and our assessment may evolve, but this death toll still reflects a staggering loss of life," the report said. The report said "only light structural damage at the hospital" has been observed and there was "no observable damage to the main hospital building and no impact craters."

Persons: Ahmed Zakot, Israel, Jonathan Landay, Michelle Nichols, Doina Chiacu, Daniel Wallis Organizations: REUTERS, Rights, Reuters, Thomson Locations: Al, Ahli, Israel, Gaza City, Gaza, Arabi

☆ What new U.S. export controls on China mean for Nvidia and other key parts of AI ecosystem
▼ + stars: | 2023-10-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Washington's tightened grip on artificial intelligence chip sales to China could have long-term implications for Nvidia , 2023's famed AI darling. Through Wednesday's close, Nvidia, the dominant AI player, had lost 7% this week, while Advanced Micro Devices and Marvell Technology slumped more than 2%. What it means for Nvidia Nvidia said in an SEC filing this week that the latest government curbs could hinder its new product development timeline, and a handful of chip models. The major aim of the latest U.S. restrictions is to prevent China from harnessing advanced semiconductor chips to strengthen its military. To be sure, Nvidia isn't the only company slated to feel the pressure from the latest export curbs.

Persons: Greg Bassuk, Atif Malik, Morgan Stanley's Joseph Moore, Malik, America's Vivek Arya, Harlan Sur, Goldman Sachs, Toshiya Hari, Paul Meeks, Meeks, Charles Shi, JPMorgan's, Raymond James, Srini Pajjuri, Michael Bloom Organizations: Nvidia, U.S . Commerce Department, Devices, Marvell Technology, Commerce Department, Micron Technology, AXS Investments, Nvidia Nvidia, SEC, United, United Arab Emirates, Citi, Intel, Investments, Bank, America's, JPMorgan Chase, Lam Locations: China, Boise , Idaho, Vietnam, Saudi Arabia, United Arab, Freemont , California

☆ Italy remains open to investment by Intel, rival chipmakers - minister
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsROME, Oct 19 (Reuters) - Italy remains open to a possible investment by Intel (INTC.O) in the country and would also welcome other chip makers, Industry Minister Adolfo Urso said on Wednesday. The minister said Italy had offered a state contribution to facilitate the Intel investment and the U.S. company had not asked for more. Intel last year announced it aimed to build an advanced packaging and assembly chip factory in Italy as part of a wider long-term investment plan to expand capacity across Europe. Reporting by Giuseppe Fonte Writing by Keith Weir, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Adolfo Urso, Giuseppe Fonte, Keith Weir, Alvise Organizations: REUTERS, Rights, Intel, Industry, U.S ., Thomson Locations: Italy, U.S, Europe

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters. Several tech deals have been scuppered in recent years due to delays in regulatory approvals or rejections by China. 2 player in NAND flash memory chips - and Western Digital's fourth-ranked flash business, would control a third of the global NAND flash market, on par with top player Samsung Electronics (005930.KS). Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues including valuation discrepancies. In Japan, the two companies jointly produce NAND flash memory chips, which are widely used in smartphones, personal computers and other devices to store digital data.

Persons: Kim Kyung, Bain, Nobuo Hayasaka, Makiko Yamazaki, Miho Uranaka, Maki Shiraki, Miyoung Kim, Tomasz Janowwski Organizations: REUTERS, Rights, Kioxia Holdings, Reuters, Intel Corp, China ., Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Development Bank of Japan, SK Hynix, Toshiba Corp, Samsung Electronics, Nasdaq, Western, Mitsubishi, Mizuho, Sumitomo Mitsui, Western Digital, Thomson Locations: Tokyo, Japan, China, Kioxia

☆ Sponsors are backing out of the tech conference Web Summit after backlash over the founder's comments on Israel
▼ + stars: | 2023-10-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Major tech giants Intel and Siemens have pulled out as sponsors of the Web Summit conference. Siemens told Insider that it's not attending due to "recent developments surrounding Web Summit." AdvertisementAdvertisementIntel and Siemens are pulling out as sponsors of Web Summit after its CEO and cofounder, Paddy Cosgrave, criticized the West's support for Israel, the companies confirmed to Insider. The multinational companies told Insider they're withdrawing from the European tech conference, which is set to take place in Lisbon next month. "Following recent developments surrounding Web Summit, we have reviewed the situation and determined that Siemens will not to attend in 2023," German tech firm Siemens told Insider in a statement Thursday.

Persons: it's, —, Paddy Cosgrave, I'm, Cosgrave Organizations: Intel, Siemens, Web, Service, Israel Locations: Israel, Lisbon

☆ Russia claims key Crimea bridge is fully repaired, but actually it remains limited and a huge 'security burden,' UK intel says
▼ + stars: | 2023-10-19 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia said the Kerch Bridge was fully repaired after a Ukrainian attack in July. But the bridge is "now almost certainly a significant security burden" for Russia, the UK MOD said. "Trucks and fuel supplies continue to be moved by ferry," the UK MOD said. The attacks were seen as a symbolic blow to Russia, with the bridge representing Russian control over Crimea. But it is now "almost certainly a significant security burden requiring multi-domain protection, including the use of air defence systems and crews who would otherwise be deployed elsewhere," it added.

Persons: —, Ukraine's, That's, Marat Khusnullin, STRINGER, Vladimir Putin Organizations: MOD, Service, UK Ministry of Defence, Russian, Getty Locations: Russia, Kerch, Crimea, Ukraine, Southern Ukraine, Russian

☆ ASML warns of flat 2024 sales as chipmakers slow orders
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

The company reported net profit of 1.9 billion euros ($2.01 billion) for the three months ended Sept. 30, in line with analyst expectations. Net bookings were 2.6 billion euros, compared with third quarter sales of 6.7 billion euros. "Consensus expectations still call for 7% sales growth next year, which should come down today," Stifel analysts said in a note. Dassen said ASML still had an order backlog of 35 billion euros and a strong 2025 would follow an uncertain 2024, given its customers' expansion plans in Asia, the United States and Europe. Dassen said the company did not expect any financial impact from an updated U.S. policy announced Tuesday restricting sales of semiconductor equipment to China.

Persons: they're, Roger Dassen, Dassen, ASML, Toby Sterling, Victor Goury, Rashmi Aich, Mark Potter Organizations: Jefferies, Semiconductor, ASML, Samsung, Intel, Thomson Locations: AMSTERDAM, Amsterdam, Asia, United States, Europe, China, Taiwan, South Korea

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. U.S. officials asked for input in devising a "tamperproof" way to keep systems that might contain up to 256 AI chips from being strung together into a supercomputer. The other primary gift that U.S. officials gave Nvidia, Intel and AMD was hobbling their most capable Chinese competitors. New rules will make it nearly impossible for Moore Threads and Biren, two well-funded Chinese startups founded by Nvidia veterans, to have their designs manufactured using cutting-edge chipmaking technology. That means whatever Nvidia is able to sell to China will likely be Chinese buyers' best legal option.

Persons: Ann Wang, ChatGPT, Thomas Krueger, They're, Moore, Piper Sandler, Dan Hutcheson, Japan's, Clete Willems, Akin Gump, Gregory Allen, David Kanter, Stephen Nellis, Max A, Kenneth Li, Jamie Freed Organizations: REUTERS, FRANCISCO, Biden, Nvidia, Intel, Devices, U.S . Bureau of Industry and Security, U.S . National Security Council, BIS, AMD, Japan's Nikon, U.S, Center for Strategic, International Studies, Real, Thomson Locations: Taipei, Taiwan, China, U.S, Netherlands, Japan, San Francisco

Among the evidence that’s been gathered is a blast analysis that suggests it was a ground explosion rather than an airstrike that hit the hospital, one of the sources said. That analysis is one datapoint that’s led intelligence officials to lean toward assessing that the attack on the hospital was a rocket launch gone wrong. Still, the blast analysis is just one of the things being examined by the intelligence community, which has surged intelligence collection assets to the region. US intelligence officials have not made a final assessment and are still gathering evidence, the officials said. Not long after landing in Israel on Wednesday, Biden weighed in on who was behind the strike on the hospital.

Persons: Israel “, Joe Biden’s, Adrienne Watson, ” Watson, that’s, Biden, ” Biden, Benjamin Netanyahu, ”, Israel, Daniel Hagari, “ I’m, Jim Himes, Mick Mulroy, Mulroy, Mark Hertling, ” Hertling, it’s “, ” “, “, We’re, ’, Rishi Sunak, ” Sunak, It’s Organizations: CNN, National Security Council, Palestinian, NSC, Islamic, Wednesday, Israeli, Defense Department, ”, Israel Defense Forces, House Intelligence, Capitol, Defense, CIA, intel, Hamas Locations: Gaza, Israel, States, Jim Himes of Connecticut, Al, Ahli, Iran

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