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☆ Bed Bath & Beyond poised to join the list of 'zombie brands' like Radio Shack and Toys R Us
▼ + stars: | 2023-06-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond has reached a deal to sell its primary brand assets to Overstock for $21.5 million. The agreement covers trademarks, business data, and e-commerce sites, but not stores or inventory. The sale will make the former housewares giant the latest retail "zombie brand." A shuttered Bed Bath & Beyond store in suburban Detroit. The survival of Bed Bath & Beyond on paper and online will make it the latest retail "zombie brand" — a list that includes former industry titans like Radio Shack, Lord & Taylor, and Toys R Us, whose new owners aim to cash in on the label's established credibility with customers.

Persons: —, Overstock.com, Leslie J, Allen, Taylor Organizations: Service, Bed, titans, Radio, New York Times, & $ Locations: New Jersey, Detroit

☆ Deutsche Bank upgrades Anheuser-Busch InBev, sees Bud Light headwinds fading
▼ + stars: | 2023-06-22 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Anheuser-Busch InBev's Bud Light nightmare won't last forever, according to Deutsche Bank. Anheuser-Busch's U.S.-listed shares are down nearly 15% in the second quarter, driven largely by consumers fleeing the Bud Light brand over a collaboration with transgender influencer Dylan Mulvaney. BUD 3M mountain Bud Light stock has dropped nearly 15% in the second quarter. "Our proprietary dbDIG survey data suggests that 24% of Bud Light consumers no longer buy the brand with another 18% buying less. The company is slated to report second-quarter earnings in early August, and Collett expects the Bud Light parent to reduce or remove its full-year guidance.

Persons: Busch, Bud, influencer Dylan Mulvaney, Mitch Collett, Bud Light, Collett, — CNBC's Michael Bloom Organizations: Anheuser, Deutsche Bank, €, Busch's, Bud Light, Bud, Busch InBev Locations: Busch's U.S, U.S, Mexico, Brazil, China

☆ EA's CMO reveals how he'll keep the video game giant's soccer franchise rolling without FIFA branding
▼ + stars: | 2023-06-22 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

EA's "FIFA" series is a big revenue driver, but its next soccer video game won't have that branding. CMO David Tinson reveals his plan to drive fans to EA's new soccer franchise EA Sports FC. Electronic Art's marketing muscle is going to have to do some heavy lifting this year to build a new powerhouse brand around its soccer video game series. In 2022, EA and FIFA ended a licensing partnership that lasted nearly three decades and helped make the "FIFA" video game series the most popular sports franchise of all time. This is a key component to making sure fans of the "FIFA" franchise glom onto the new one.

Persons: David Tinson, Andrew Wilson, Tinson, we've, hadn't Organizations: FIFA, EA Sports FC, EA, FC Barcelona's Camp, Manchester United, FC Barcelona, Nike Locations: FC Barcelona's Camp Nou, Real Madrid

☆ Apple isn't worth its near-$3 trillion valuation - and its stock has only surged this year because it's a safety play, CIO says
▼ + stars: | 2023-06-21 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Apple isn't worth its current valuation, according to Short Hills managing partner Steve Weiss. “The stock has not moved up in the fundamentals, it’s moved up because it’s safety,” Weiss said. "The stock has not moved up in the fundamentals, it's moved up because it's safety." That surge has lifted the company's valuation from $2.1 trillion to $2.9 trillion, according to data from CompaniesMarketCap. Read more: Tech stocks are outperforming their rivals by the most since the dot-com bubble

Persons: Steve Weiss, it’s, ” Weiss, —, David Tepper's, CNBC's, it's, Weiss, wouldn't Organizations: Apple, Short Hills, Service, Short Hills Capital Partners, Carolina Panthers, CNBC

☆ European Uber rival Bolt will deliver food to your door via self-driving robots
▼ + stars: | 2023-06-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Bolt is set to launch food delivery via robot in partnership with the robotics firm Starship Technologies. Estonian ride-hailing firm Bolt says it will begin delivering food to people's doors from a fleet of self-driving robots through a partnership with robotics firm Starship Technologies. The company said it would start offering online food deliveries in its home city of Tallinn later this year in an initial rollout of Starship's robots, which are roughly the size of a suitcase. "Starship offers a smart and much-loved service that has proven itself over the past five years and we're excited to introduce this service to more people." The company has since expanded into several other lines of business, including online food and grocery delivery and e-scooters.

Persons: Bolt, Markus Villig, Uber Organizations: Technologies Locations: Estonian, Tallinn, U.S

☆ CEOs do matter when picking stocks. 5 things we look for in a leader and examples from our portfolio
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

It's not unusual for a company's stock price to soar — or sink — on news of a CEO shakeup. So, CEOs matter when picking stocks — and at the Club, these are the five things we look for when evaluating the leaders of our holdings. A stock's day-to-day and even month-to-month performance may not truly reflect how well a CEO is leading a company. Trust has value, and the stocks of companies led by reputable CEOs with competent management teams can trade at premium valuations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Mary Dillon, Locker, J im Cramer, buybacks, Rainer Blair, —, Kevin Johnson, Marc Benioff, Mark Zuckerberg, Zuckerberg, we've, Bruce Broussard, Humana, Jeff Smith's, Craig Jelinek, who's, that's, Jelinek, it'd, Andy Jassy, Tim Cook, he's, Cook, Jim Cramer's, Dan Schulman, Sanjiv Lamba, Linde, Lamba, Eli Lilly, Dave Ricks, Eli Lilly's, Jim, Lilly, Jim Farley, Farley, Elon Musk's Tesla, Ford, LLY, Jim Cramer, Spencer Platt Organizations: Club, McKinsey & Co, Natural Resources, GE Life Sciences, SVB Securities, Starbucks, Humana, Bain & Co, Costco, CNBC, Apple, Amazon's, Football, MGM, Management, PayPal, Linde, LIN, Ford Motor, Wall, EV, Ford, The New York Stock Exchange, Financial, Getty Locations: U.S, Manhattan, New York City

The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over Zhang as chairman. "The idea or expectation that one person could manage the business' crown jewel Cloud and at the same time manage the entire Alibaba Group is an unreasonable expectation." "It would be inappropriate for me to continue serving as chairman and CEO of both companies at the same time during the spin-off process." Alibaba thanked Zhang for his "extraordinary leadership in navigating unprecedented uncertainties affecting the company's business over the past few years." Wu, who co-founded Alibaba alongside Ma and Tsai over two decades ago, will continue to concurrently serve as chairman of Taobao and Tmall Group, Alibaba said.

Persons: Zhang, Joseph Tsai, Alibaba, Daniel Zhang, Eddie Yongming Wu, Alibaba's, Daniel, Brian Wong, Jack Ma, Joe, Eddie, Eric Chen, Wu, Ma, Tsai, Alipay, Jacob Cooke, Cooke, China's, J, Michael Evans, Abinaya, Brenda Goh, Scott Murdoch, Anne Marie Roantree, Josh Ye, Muralikumar Anantharaman, Christopher Cushing Organizations: Alibaba, HK, Tmall, Reuters, Cloud Intelligence Group, Analysts, Alibaba Health, Technologies, Thomson Locations: SHANGHAI, China, Hong Kong, Shanghai, Beijing, Japan, Spain, Australia, Thailand, Tokyo, Taobao, Bengaluru, Sydney

Eight of the 11 S&P 500 sub-sectors were in the red, with the energy index (.SPNY) leading declines. U.S. markets ended lower on Friday as comments from Fed officials curtailed optimism that the central bank was nearing the end of its aggressive interest rate hikes. Traders now see a 72% chance of Fed hiking its key benchmark rates by 25 basis points in July, according to CMEGroup's Fedwatch Tool. Declining issues outnumbered advancers for a 2.43-to-1 ratio on the NYSE and a 1.82-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and no new low, while the Nasdaq recorded 38 new highs and 40 new lows.

Persons: Eli Lilly, Tesla, Rivian, homebuilding, Sam Stovall, CMEGroup's, Michael Barr, Jerome Powell's, Morgan Stanley, Daniel Zhang, advancers, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi, Shounak Organizations: Therapeutics, Nike, Dow, Nasdaq, U.S . Federal Reserve, CFRA Research, Tesla Inc, Reuters, EV, U.S . House Financial, PayPal Holdings, KKR & Co, Alibaba, PDD Holdings, Dow Jones, Adobe Inc, Dice Therapeutics, NYSE, Thomson Locations: U.S, Europe, China, Bengaluru

☆ Jump Trading's top executive in Europe is leaving the systematic trading firm
▼ + stars: | 2023-06-18 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Jump Trading exec Peter Deaner is leaving the systematic trading firm, people familiar with the matter said. Senior executive departures are relatively uncommon at the press-shy trading firm. Jump Trading Group's top executive in Europe is leaving the systematic trading firm after more than a decade. "Pete will be retiring from the industry in 2024, moving on from Jump Trading roughly at the end of Q1," the spokesperson told Insider in an email. Jump Trading International, the London-based subsidiary of the Chicago trading firm, has grown substantially since Deaner joined in the summer of 2012.

Persons: Peter Deaner, Deaner, Pete, Damien Couture, Verition, lockups Organizations: Companies, Couture, Bloomberg Locations: Europe, London, Chicago

☆ Microsoft's market value hits an all-time high of $2.6 trillion as the AI-fueled stock surge continues
▼ + stars: | 2023-06-16 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Microsoft's market capitalization climbed to an unprecedented $2.59 trillion Thursday as its stock extended gains. The tech giant's shares have rallied more than 45% so far this year, buoyed by the investor frenzy over AI-related stocks. Microsoft has been viewed as one of the lead adopters of AI technology among software companies. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Microsoft's stock has extended its year-to-date rally to over 45%.

Persons: — Organizations: Microsoft, Service, JPMorgan, Reuters, Tech, Federal Reserve, Nvidia, Nasdaq Locations: Friday's

☆ Tucker Carlson takes a shot at Fox News for backpedaling on chyron text labeling Biden a 'wannabe dictator'
▼ + stars: | 2023-06-16 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Tucker Carlson took a dig at his former employer Fox News after it backpedaled on its "wannabe dictator" chyron. This week, Fox News labeled President Joe Biden a "wannabe dictator" in chyron text. The "wannabe dictator" message was on-screen for 27 seconds, the website Mediaite reported. Then the company issued a public apology for the 27-second-long 'wannabe dictator' line," Carlson said on his Twitter show. Carlson referenced her comments on his Twitter show before suggesting in a sarcastic rant that Biden is actually a "wannabe dictator."

Persons: Tucker Carlson, Joe Biden, Carlson, Fox News chyron, Donald Trump, Trump, Alexander McCaskill, McCaskill, He'd, Fox, Karine Jean, Pierre, Biden, Tucker, Axios Organizations: Fox News, Fox, Biden, White, Twitter, Dominion Voting Systems

☆ Alibaba founder Jack Ma is 'alive' and 'happy,' top exec says after China's tech crackdown
▼ + stars: | 2023-06-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article BABABABA Follow your favorite stocks CREATE FREE ACCOUNTAlibaba founder Jack Ma is "happy," according to the company's President Michael Evans. Costfoto | Future Publishing | Getty ImagesPARIS — Alibaba founder Jack Ma is "alive" and "happy," the Chinese e-commerce giant's president said Thursday, after speculation continues about the billionaire's activities following Beijing's intense crackdown on his tech empire. He's well, he's happy. He's teaching at a university in Tokyo, spending more time in China," Alibaba President Michael Evans said at the Viva Tech conference in Paris. He cares ... as much about this company today, as he did when he started, and I expect that that will continue for as long as Alibaba and Jack Ma are here.

Persons: BABA BABA, Jack Ma, Michael Evans, Te, Alibaba, Jack, Ma, Maurice Levy Organizations: Getty, PARIS, Viva Tech, Ant Locations: Tokyo, China, Paris, Beijing

Fake reviews have been a recurring problem on internet commerce sites. Google said Hu buys thousands of fake positive reviews to make the businesses appear legitimate. He then allegedly sells the profiles as "leads" to real businesses in the same fields, which receive contacts from potential customers who reach out to the fake businesses. Google said Hu created more than 350 false profiles bolstered by over 14,000 illegitimate reviews. The lawsuit accused Hu of false advertising, unlawful business practices and violating Google's terms of service.

Persons: Ethan QiQi Hu, Hu, Cooley, Blake Brittain Organizations: Google, Northern, Northern District of, Thomson Locations: Los Angeles, San Jose , California, Hu, U.S, Northern District, Northern District of California, Washington

☆ Disney's parks division is driving big profits, a bright spot as the streaming biz struggles and ESPN's future is unclear. Here's how that could factor into Bob Iger's CEO succession plans.
▼ + stars: | 2023-06-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Disney CEO Bob Iger has reorganized the company into 3 core units: entertainment, ESPN, and parks. Parks' growing prominence comes as the company faces looming decisions over Iger's CEO. Travel bans "dramatically impacted" results for Disney Parks during the intense early years of the coronavirus pandemic, Heger noted, adding that parks are now generating more revenue and operating profit than they did in pre-COVID times. The parks' success is "helping to offset" losses from Disney's "DTC," or direct-to-consumer streaming business, Heger added. Josh D'Amaro, the current chairman for Disney Parks, Experiences, and Products, would be a likely figure appearing on any shortlist of CEO contenders.

Persons: Bob Iger, Parks, It's, Dave Heger, Edward Jones, Heger, AECOM, Iger, Josh D'Amaro, Christine McCarthy —, Iger's, Bob Chapek, Ron DeSantis, Chapek, Hollywood creatives, Tom Staggs, Iger —, —, Chapek's, it's, you've, Jeffery Merola, he'd, DeSantis, Reed Alexander Organizations: Disney, ESPN, Disney Parks, Walt Disney, Disneyland, Products, Florida Gov, Hollywood, Los Angeles Times, Sunshine State Locations: Tokyo, Shanghai, Orlando , Florida, Anaheim , California, execs, Chapek, Syracuse , New York, Orlando

Boric's shock announcement was all the more surprising as no DLE technology has reached commercial production without the use of those ponds, sparking competition to be the first. "Given those demand projections, there's definitely need for more supply from DLE," said Jordan Roberts, a Fastmarkets lithium industry analyst. A customer aiming to produce 15,000 metric tons of lithium each year, for example, could buy three stackable IBAT lithium plants. Exxon has also held talks with EnergySource Minerals about licensing DLE technology, two of the people said. Many brine deposits have varied chemical compositions, meaning it's unlikely that one DLE technology will emerge as a global leader.

Persons: DLE, Ken Hoffman, Gabriel Boric, Eramet, Sunresin, John Burba, That's, Alec Lucas, Jordan Roberts, IBAT, Garry Flowers, Eli Horton, Gavin Rennick, Sinead Kaufman, Dave Snydacker, Steven Schoffstall, doesn't, Chris Doornbos, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: . Geological, EV Battery Materials Research, McKinsey & Co, Minerals, Battery Metals, Rio Tinto, Battery Tech, Fastmarkets, Exxon Mobil, Chevron, Reuters, Exxon, EnergySource Minerals, Koch Industries, Ford, SLB's New Energy, Mining, Solutions, BNP, BMW, Breakthrough Energy Ventures, Lake Resources, Miners, General Motors, Canadian, Imperial Oil, Thomson Locations: CHARLES , Louisiana, Europe, Asia, North America, Rio, U.S, DLE, Louisiana, Arkansas, Salton, Salt, Chile, Schlumberger, Nevada, Argentina

June 15 (Reuters) - Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said. "Defense technology is central to our safety. However, aging defense systems and ailing supply chains mean the U.S. has a big opportunity to innovate in service of national security," Shaun Maguire, partner at Sequoia, who led the deal, told Reuters via email. "There is a major modernization effort underway to advance the U.S. defense technology and build a new generation of military systems." Founded by MIT dropout and Thiel Fellow Ethan Thornton in 2022, Mach Industries focuses on building a hardware solution using field-sourced hydrogen creation and combustion techniques.

Persons: Shaun Maguire, Ethan Thornton, Mach, We've, ” Thornton, Thornton, Krystal Hu, Leslie Adler Organizations: Defense, Industries, Sequoia Capital, U.S, Department of Defense, Sequoia, MIT, Mach Industries, Reuters, Pentagon, Thomson Locations: Silicon Valley, U.S, Austin , Texas, Boston, Austin, San Francisco

☆ Alibaba to launch local versions of its China e-commerce site in Europe
▼ + stars: | 2023-06-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Michael Evans, President of Alibaba Group, said that the firm will bring its Tmall e-commerce site to Europe. Michael Evans, president of Alibaba, said the company will bring one of its China e-commerce services Tmall into Europe. In China, Tmall is an Alibaba site and app that has a big focus on selling foreign brands to Chinese consumers. Launching Tmall in Europe reflects a significant shift in strategy for Alibaba in its international e-commerce operations. However, Evans' suggestion is that Tmall in Europe would focus on selling local brands to local shoppers.

Persons: Michael Evans, PARIS —, Alibaba, Evans Organizations: Alibaba, PARIS, Viva Tech, Shipping, AliExpress, Tmall, Digital Commerce Locations: Europe, China, Paris, France, Spain

☆ Apple adds $25 mln venture capital commitment for minority-owned businesses
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 14 (Reuters) - Apple (AAPL.O) said on Wednesday it is investing an additional $25 million to three funds working with minority-owned businesses, bolstering its backing for communities that continue to be underrepresented in the technology space. The funds would go to Collab Capital, Harlem Capital and VamosVentures and boost the tech giant's venture capital support for diverse businesses, to $50 million. The statement comes more than two years after the Cupertino, California-based company's foray into VC funding to back entrepreneurs of color. Companies across the spectrum in corporate America have pledged to do more to support initiatives aimed at racial equity after the murder of George Floyd in 2020 prompted a global reckoning over racism. Reporting by Niket Nishant in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: George Floyd, Niket, Maju Samuel Organizations: Collab, Harlem Capital, VamosVentures, Thomson Locations: Cupertino , California, America, Bengaluru

☆ Apple may be diversifying supply chains away from China — but it's still relying on the country's suppliers to build the Vision Pro headset
▼ + stars: | 2023-06-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Apple's diversifying supply chains away from China, but it's still using Chinese firms to make the Vision Pro. Apple's Vision Pro has been exciting investors since its reveal, sending the company's shares soaring. Tech giant Apple has been trying to diversify its supply chains away from China — but it appears there's no getting away from the manufacturing powerhouse. According to Wellsenn, the list shows eight Chinese companies involved in the making of Apple's Vision Pro headset. And despite the internet's derision about the gadget's hefty price tag and its goofy aesthetics, the Vision Pro itself has been exciting investors.

Persons: Wellsenn, Cowell, Taiwan's Foxconn, Zinya, Nidhi Pandurangi Organizations: Tech, Apple, Vision, Apple's, Cowell e Holdings, Samsung, LG, Sony Locations: China, India

☆ Google may be forced to break up its ad business after EU charges
▼ + stars: | 2023-06-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The EU might force Google to break up its ad business. Google could be forced to break up parts of its empire after the EU accused it of abusing its dominance in digital ads and "distorting" the competition. As yet, Google is not being fined nor is it being immediately instructed to break up its business. The company will be able to argue its case, and a final outcome to the Commission's investigation is still pending. "The Commission's investigation focuses on a narrow aspect of our advertising business and is not new.

Persons: Margrethe Vestager, Google's, Dan Taylor Organizations: Google, Morning, European Commission, YouTube, Microsoft Locations: adtech

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

☆ EU charges Google with anti-competitive practices in ad tech business
▼ + stars: | 2023-06-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The European Commission, the executive arm of the EU, reached a preliminary conclusion that Google is dominant in the European market for publisher ad servers and for programmatic ad-buying tools for the open web. The commission also said Google has abused this dominant position since at least 2014. "The Commission's preliminary view is therefore that only the mandatory divestment by Google of part of its services would address its competition concerns," EU competition chief Margrethe Vestager said in a statement. "Our preliminary concern is that Google may have used its market position to favour its own intermediation services. If confirmed, Google's practices would be illegal under our competition rules,"Google was not immediately available for comment when contacted by CNBC.

Persons: Margrethe Vestager, Vestager Organizations: European Union, European Commission, EU, Google, CNBC Locations: Brussels, Belgium

The plan comes a day before an annual shareholders meeting where governance and strategy - including a slow pivot to battery EVs under former CEO Akio Toyoda - will be scrutinised. Toyota said it aims to launch next-generation lithium-ion batteries from 2026 offering longer ranges and quicker charging. At the high end of the market, Toyota said it would produce an EV with a more efficient lithium-ion battery offering a range of 1,000 km (621 miles). An EV powered by a solid-state battery would have a range of 1,200 km and charging time of just 10 minutes, Toyota said. "What we want to achieve is to change the future with BEVs," Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker's YouTube channel on Tuesday.

Persons: Akio Toyoda, Koji Sato, Takero Kato, BEV Factory, Henry Ford, Koji Endo, Toyota's, I'm, it's, Toyota's BEV Factory, Kato, Tesla, Daniel Leussink, Christopher Cushing, Kevin Krolicki Organizations: Toyota, EVs, Tesla, Engineers, Toyota EV, YouTube, NEW ASSEMBLY, SBI Securities, Lexus, Thomson Locations: TOKYO, China

The Patent Trial and Appeal Board invalidated the computer chip-related patent after canceling another VLSI patent that accounted for the remainder of the Texas federal court verdict last month. A jury ruled for Intel in 2021 in another Texas patent case in which VLSI had sought $3.1 billion in damages. The patent board proceeding decided on Tuesday was initiated by South Dakota-based Patent Quality Assurance LLC. An attorney for Patent Quality Assurance did not immediately respond to a request for comment. The case is Patent Quality Assurance LLC v. VLSI Technology LLC, Patent Trial and Appeal Board, No.

Persons: Kathi Vidal, OpenSky, Benjamin Fernandez, Wilmer Cutler Pickering Hale, Dorr, Bruce Slayden, Slayden Grubert, Babak, Kenneth Weatherwax, Weatherwax Read, Blake Brittain Organizations: Intel, USPTO, U.S . Patent, Intel Corp, VLSI Technology, U.S ., Appeals, Federal Circuit, SoftBank Group Corp, Fortress Investment Group, Assurance, OpenSky Industries, Lowenstein, Tech, Thomson Locations: Texas, Delaware, Northern California, South Dakota, Washington

☆ Verizon searching for new finance chief and potential CEO successor - WSJ
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Verizon Communications (VZ.N) is searching for a new finance chief and looking for potential candidates to later succeed CEO Hans Vestberg, the Wall Street Journal reported on Monday citing people familiar with the matter. The company had reshuffled its senior leadership roles in March and appointed Tony Skiadas to replace former Chief Financial Officer Matt Ellis while naming Sowmyanarayan Sampath as the CEO of Verizon Consumer Group. Verizon did not immediately respond to a Reuters request for comment. The company is working with executive recruiting and advisory firm Spencer Stuart, the report added. Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Hans Vestberg, Tony Skiadas, Matt Ellis, Sampath, Vestberg, Spencer Stuart, Chavi Mehta, Krishna Chandra Organizations: Verizon Communications, Wall Street, Verizon Consumer Group, Verizon, Thomson Locations: Bengaluru

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