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JoeBen Bevirt is an evangelist for the new industry and the founder and CEO of Joby Aviation Inc., which delivered its first eVTOL to the Air Force last month. What will you learn from how the Air Force uses it? There will certainly be valuable learnings and the operational experience, the feedback from the Air Force pilots to the FAA flight-test pilots. Q. Joby announced in September that you’re going to build a $500 million production facility in Dayton, Ohio, with up to $325 million in state and local incentives. You’ve got Wright-Patterson Air Force Base, which is the home of the Air Force Research Laboratory and AFWERX (the Air Force’s technology-innovation program).

Persons: Bevirt, We’ve, Davis, that’s, we’ve, don’t, Joby, you’re, Wright, You’ve Organizations: Joby Aviation Inc, Air Force, Toyota, Associated Press, University of California, Joby Aviation, Federal Aviation Administration, FAA, NTSB, National Transportation Safety, Patterson Air Force Base, Air Force Research Laboratory, Boeing, Airbus Locations: Santa Cruz , California, California, Dayton , Ohio, Dayton, Ohio, Joby

☆ Volatility is back—Here's what hedge funds are doing during the market's wild swings
▼ + stars: | 2023-10-06 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Volatility has made a comeback, and that's typically when hedge funds outperform and offer downside protection. Amid the elevated volatility, hedge funds increased their short activity, while focusing on quality stocks, according to Goldman Sachs' prime brokerage data. Specifically, hedge funds have been shorting exchange-traded funds in large cap equity, sectors and credit categories for three sessions in a row this week, Goldman said. Quality trade Meanwhile, hedge funds are pivoting to stocks with high-quality fundamentals. The real estate sector, for example, saw a net short position of 2% among hedge funds, DeSanctis said.

Persons: Goldman Sachs, Goldman, David Kostin, Steven DeSanctis, DeSanctis, — CNBC's Michael Bloom Organizations: Treasury, Federal Reserve, Costco, Cisco, Cadence Design Systems Locations: U.S

☆ Here's an exclusive look at the pitch deck two former VCs used to raise $4.7 million in funding for their startup The Grand, whose coaching service is used by Googlers, founders, and NBA players alike
▼ + stars: | 2023-10-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In the midst of a funding crapshoot for young startups, The Grand, a four-year-old startup that provides career coaching as a service, has raised $4.7 million in a round of seed funding led by Alexis Ohanian's Seven Seven Six. You could say founders Anita Hossain Choudhry and Rei Wang had a leg up on creating the pitch deck they used to convince venture capitalists to back their startup. The goliath of coaching startups is BetterUp, a startup that offers individual and group coaching and has raised $600 million in funding so far. The Grand is now walking in lockstep with roughly 1,000 members, including Googlers, founders, and pro athletes. Check out the pitch deck that The Grand used to raise $4.7 million in seed funding.

Persons: Alexis Ohanian's Seven, Anita Hossain Choudhry, Rei Wang, Hossain Choudhry, Wang, Oscar, it's Organizations: Google, Intuit, Angel City Football Club, NBA, Carta Locations: Ohanian, lockstep

The Commerce Department, which oversees export controls, is working on an update of export restrictions first released last year. "The PRC has been expecting an update around the one year anniversary, based on conversations with administration officials," the U.S. official said, using the abbreviation for People's Republic of China. U.S. officials provided the information to Chinese counterparts in recent weeks, the official said, which Reuters is reporting for the first time. The Biden administration has also sent a series of high-level officials to China, including Commerce Secretary Gina Raimondo in August. Treasury Secretary Janet Yellen also gave Chinese officials a warning in July about restrictions on U.S. investment in China released in August.

Persons: Florence Lo, Biden, Gina Raimondo, Jake Sullivan, Wang Yi, Liu Pengyu, Peter Harrell, Janet Yellen, Xi, ASML, Alexandra Alper, Karen Freifeld, Chris Sanders, Anna Driver Organizations: REUTERS, Beijing, U.S, Commerce Department, People's, Reuters, National, Foreign, of Commerce, White House, Economic Cooperation, Thomson Locations: China, WASHINGTON, People's Republic of China, Beijing, U.S, United States, Washington, Asia, San Francisco, Bali, India, Netherlands, Japan

☆ Goldman says interest rate expense is biggest threat to profitability, but these stocks are immune
▼ + stars: | 2023-10-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The higher-for-longer interest rate regime poses a direct threat to company profitability, but some stocks are a lot less vulnerable to higher borrow costs, according to Goldman Sachs. The Federal Reserve has taken interest rates to the highest level since 2001 while forecasting one more hike this year. The S & P 500 finished September down 4.9%, suffering its worst month of 2023. The Wall Street firm screened the S & P 500 for stocks with low leverage, high interest coverage and low EBITDA growth variability. Specifically, Goldman identified stocks with net debt to EBITDA below 1, EBIT to interest expense in top quartile among S & P 500 stocks and with EBITDA growth variability in bottom quartile.

Persons: Goldman Sachs, ROE, David Kostin, Stocks, Kostin, Goldman Organizations: Goldman, Federal, Street, Cisco, Cadence Design Systems, Cognizant Technology Solutions, Consumer, Costco Locations: EBITDA

☆ Opinion: When it comes to quality over quantity, this Republican contender nailed it
▼ + stars: | 2023-09-28 | by ( Sheena Mckenzie | Opinion Todd Graham | ) edition.cnn.com time to read: +11 min

She didn’t need more speaking time because Haley valued quality over quantity. Regardless of the topic, I felt that Haley’s understanding of the issues and the depth of her answers were unrivaled. Pence was once the vice president of the United States, but on the debate stage he was anything but powerful. DDoug BurgumRobyn Beck/AFP/Getty ImagesWhen it comes to knowledge and experience solving problems, the governor of North Dakota is on par with Haley. At one moment in the debate, Burgum demanded (not kidding — he actually said the word demand) to be allowed to speak.

Persons: Todd Graham, he’s, —, Nikki Haley Mike Blake, Nikki Haley, Haley, Donald Trump, Ron DeSantis Mike Blake, Ron DeSantis, DeSantis, ’, Chris Christie, It’s, Mike Pence Mark J, Terrill, Mike Pence, Pence, Vivek Ramaswamy, Ramaswamy, that’s, Doug Burgum Robyn Beck, Doug Burgum’s, hasn’t, Burgum, Dana Perino, Perino, Chris Christie Robyn Beck, Trump, Christie, Vivek Ramaswamy Robyn Beck, Ramaswamy can’t, “, Tim Scott Robyn Beck, Tim Scott, Scott, I’m, Barack Obama Organizations: Southern Illinois University, Facebook, Twitter, CNN, United Nations, Republican, Trump, New, New Jersey Gov, ’ Research, Getty, Fox News, FedEx Locations: South Carolina, China, Ukraine, New Jersey, Russia, United States, AFP, North Dakota

For new couples, moving too fast or too slow when it comes to getting physical can be a big worry. Many people wonder when the best time is to start being sexually intimate in a relationship. Which got us wondering: When is the best time to start being sexually intimate in a relationship, according to science? The answer is complicated, spanning anywhere from a few dates to a few months after you start to spend time together. Bettmann/Corbis/Getty Images Option 3: Wait until marriageSome people's religious beliefs dictate that they wait to have sex until after they get married.

Persons: —, hasn't, couples.FN, that's, Rachel Wright, Wright, Toni Coleman, Tiffany Bryant, Barton Goldsmith, Coleman, Talia Goldstein, you've, Goldsmith, Arthur Miller, Marilyn Monroe, There's Organizations: Service, FG, Cornell, University of Wisconsin Locations: South Salem , NY

☆ Walmart now lets customers set up repeat purchases by subscription – just 16 years after Amazon
▼ + stars: | 2023-09-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

The move comes 16 years after Amazon unveiled a similar subscription offering. Walmart has spent years adding to its online and delivery options to compete with Amazon and other retailers. AdvertisementAdvertisementWalmart now lets you order items through a subscription — something that Amazon has offered for years. It launched Walmart+, a subscription service that provides free delivery and other benefits, in 2020. Amazon launched Prime, its own subscription service, in 2005.

Persons: —, Kevin Coupe, DoorDash Organizations: Walmart, Amazon, Service

REUTERS/Joshua Roberts Acquire Licensing RightsSept 25 (Reuters) - It's a now-familiar dance: Federal Reserve officials signal to the world that interest rates are not dropping anytime soon. Forecasts published on Wednesday by the U.S. central bank showed that a majority of its policymakers see the Fed's benchmark overnight interest rate ending this year at 5.6%, which implies one more interest rate hike in the next three months. They also now anticipate an end-of-2024 policy rate of at least 5.1%, half a percentage point higher than they projected three months ago. Meanwhile, interest rate futures contracts continue to price in only about a 50% chance of further tightening in 2023, and see a 4.65% policy rate by the end of next year. THE FED'S OWN UNCERTAIN FORECASTSFed policymakers plan to stop raising interest rates once they are convinced inflation is headed down to the central bank's 2% target.

Persons: Joshua Roberts, Preston Caldwell, Jerome Powell, Powell, Morgan Stanley, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, REUTERS, Financial, U.S, Fed, Morningstar, Securities, United Auto Workers, Detroit automakers, Reuters, Thomson Locations: Washington , U.S, U.S

WASHINGTON (AP) — The U.S. Treasury Department and China's Ministry of Finance launched a pair of economic working groups on Friday in an effort to ease tensions and deepen ties between the nations. Led by Treasury Secretary Janet Yellen and Vice Premier He Lifeng, the working groups will be divided into economic and financial segments. The working groups will “establish a durable channel of communication between the world’s two largest economies,” Yellen said in a series of planned tweets shared with The Associated Press ahead of Friday's announcement. The groups' launch also comes after Secretary of State Antony Blinken met with China’s vice president on Monday on the sidelines of the U.N. General Assembly. China is one of the United States' biggest trading partners, and economic competition between the two nations has increased in recent years.

Persons: Janet Yellen, Lifeng, Yellen, Joe Biden, Xi Jinping, Biden, Xi, Antony Blinken Organizations: WASHINGTON, U.S . Treasury Department, China's Ministry of Finance, The Associated Press, Pacific Economic, Treasury Department, Democratic, General Assembly, ”, Communist, The U.S, Commerce Locations: U.S, China, Asia, San Francisco, Bali, United States, Carolina, North America, Xinjiang, Hong Kong, Tibet, Russia, Ukraine, The

☆ Passport delays are still long: Apply at least 6 months ahead of travel, says State Department
▼ + stars: | 2023-09-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Americans should review current processing times before making any definite or nonrefundable travel plans, a State Department spokesperson said. A routine passport application currently takes 10 to 13 weeks to process, according to the State Department. Expedited passport processing costs an extra $60. For comparison, before the pandemic, it took two to three weeks for expedited passports and six to eight weeks for routine passport processing, the State Department said. The price varies depending on the area of the country, according to the State Department.

Persons: Antony Blinken, Blinken, Thomas Barwick, haven't, you've, Jose Organizations: The State Department, Digitalvision, State Department, United States Postal Service, Urgent

☆ US Treasury launches US-China economic, financial working groups
▼ + stars: | 2023-09-22 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 22 (Reuters) - The U.S. Treasury Department on Friday said it was formally launching two new U.S.-China working groups on economic and financial issues aimed at providing a regular policy communications forum between the world's two largest economies. In a statement, the Treasury said the two groups would "meet on a regular cadence" and report to Yellen and Chinese Vice Premier He Lifeng. China's Ministry of Finance will be Treasury's counterpart for the Economic Working Group, while the People's Bank of China will be its counterpart for the Financial Working Group. China's Finance Ministry and central bank both issued statements confirming the establishment of the economic and financial working groups but gave few details beyond saying they were aimed at strengthening communication and collaboration on these issues. Establishment of the two working groups also follows Commerce Secretary Gina Raimondo's agreement with Chinese officials in August to establish a working group on U.S. export controls aimed at explaining U.S. policies.

Persons: Yellen, Gina Raimondo's, Donald Trump, David Lawder, Christina Fincher Organizations: U.S . Treasury Department, Treasury, China's Ministry, Finance, Economic, People's Bank of, Financial, China's Finance Ministry, State, Thomson Locations: China, China's, People's Bank of China, Beijing, U.S, Washington

☆ Microsoft is cancelling experimental products like its Surface headphones to focus on investing in AI, insiders say
▼ + stars: | 2023-09-21 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +1 min

Microsoft introduced new Surface laptops on Thursday. Missing from the lineup were new editions of other familiar products, like the Surface Headphones. When Microsoft introduced new Surface laptops on Thursday , some new editions of familiar products were missing. That's because the company has canceled products, including the next generation of the Surface headphones, to focus on investment in artificial intelligence, insiders say, rather than the more experimental devices the company funded in flush times. The Surface Headphones were originally launched in 2018, and an improved version launched in 2020.

Organizations: Microsoft

☆ Exclusive: Huawei unit ships Chinese-made surveillance chips in fresh comeback sign -sources
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

Hauwei also unveiled new smartphones in recent weeks that use advanced chips, which analysts say are domestically made. "These surveillance chips are relatively easy to manufacture compared to smartphone processors," said the source familiar with the surveillance camera industry's supply chain, adding that HiSilicon's return would shake up the market. A key factor is that the company appears to have worked around U.S. restrictions on chip design software. Huawei has not commented on the phone's 5G capabilities or how it produced the advanced chip. The United States has no evidence that Huawei can produce smartphones with advanced chips in large volumes, U.S. Commerce Secretary Gina Raimondo said on Tuesday.

Persons: Hauwei, Frost, Sullivan, HiSilicon, Taiwan's TSMC, Gina Raimondo, Dan Hutcheson, Shanghai Newsrooms, Fanny Potkin, Gerry Doyle Organizations: Huawei Technologies, Huawei, Securities, Novatek Microelectronics Corp, Semiconductor Manufacturing International Corp, HK, Kirin, United, . Commerce, Cadence Design Systems, Synopsys Inc, Siemens, Thomson Locations: BEIJING, SHANGHAI, U.S, Kirin, China, United States, Beijing, Shanghai, Singapore

☆ Exclusive: Huawei unit ships Chinese-made surveillance chips in fresh comeback sign
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +5 min

Huawei also unveiled new smartphones in recent weeks that use advanced chips, which analysts say are domestically made. "These surveillance chips are relatively easy to manufacture compared to smartphone processors," said the source familiar with the surveillance camera industry's supply chain, adding that HiSilicon's return would shake up the market. A key factor is that the company appears to have worked around U.S. restrictions on chip design software. HiSilicon mainly supplies chips for Huawei equipment but has had external customers such as Dahua Technology (002236.SZ) and Hikvision (002415.SZ). The United States has no evidence that Huawei can produce smartphones with advanced chips in large volumes, U.S. Commerce Secretary Gina Raimondo said on Tuesday.

Persons: Florence, Frost, Sullivan, HiSilicon, Taiwan's TSMC, Gina Raimondo, Dan Hutcheson, Shanghai Newsrooms, Fanny Potkin, Gerry Doyle Organizations: Security China, REUTERS, Rights, Huawei Technologies, Huawei, Securities, Novatek Microelectronics Corp, Semiconductor Manufacturing International Corp, HK, Kirin, United, . Commerce, Cadence Design Systems, Synopsys Inc, Siemens, Thomson Locations: Beijing, China, Rights BEIJING, SHANGHAI, U.S, Kirin, United States, Shanghai, Singapore

☆ These stocks could break out to new highs if the Fed is viewed as market-friendly
▼ + stars: | 2023-09-20 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Some stocks that were trading near 52-week highs before the Fed decision could now ride the coattails of the latest interest rate decision and move higher. Boston Scientific's previous 52-week high stood at $54.99 . Meanwhile, credit card giant Mastercard is well within striking range of a new 52-week high, with shares only 1.21% away from the benchmark. Some stocks that were trading near 52-week highs before the Fed decision could now ride the coattails of the latest interest rate decision and move higher. Consensus analyst estimates forecast a 10.4% rally to Arch Capital stock.

Persons: yearend, Jerome Powell, Drew Angerer, Baker Hughes Organizations: Fed, Federal, CNBC, CNBC Pro Stock, Boston Scientific, Boston Scientific's, Boston, Mastercard, Arch Capital, Arch Capital Group, . Federal, Federal Reserve, Washington , D.C, Getty, Capital Group, AIG American International Group, Amphenol, Bunge, Boston Scientific Corp, Design Systems, Everest Group, Emerson Electric Co, HAL Halliburton, ICE, Exchange, Jacobs Solutions, Mckesson, E Corp, Services, Constellation Brands, Targa Resources Corp, Visa Locations: Washington ,

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

☆ Chipotle CEO: Optimistic we'll get back to the normal cadence of 2-3% price hikes a year
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle CEO: Optimistic we'll get back to the normal cadence of 2-3% price hikes a yearBrian Niccol, Chipotle CEO, joins 'Squawk on the Street' to discuss how the inflationary pressures are looking for Chipotle, how this year's pricing strategy will end up, and how the minimum wage hike in California will impact the company's business.

Persons: Brian Niccol Locations: California

☆ Euro gains; yen flounders ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, banknotes of Euro, Japanese Yen, Chinese Yuan and US dollar bill are placed under one-ounce silver bullion coins arranged on February 20, 2021 in Katwijk, Netherlands. The euro clung to gains on Tuesday following hawkish comments from European Central Bank, or ECB, policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan, or BOJ, later in the week. In Asia, the yen slipped marginally to 147.64 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. Elsewhere, the U.S. dollar edged broadly lower, though strayed not too far from a six-month peak hit against its major peers last week ahead of the Fed's interest rate decision on Wednesday. Sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England, or BoE, also due this week.

Persons: Yuan, Rodrigo Catril, Kazuo Ueda, Erik Weisman, BoE Organizations: European Central Bank, Bank of Japan, Federal Reserve, ECB, National Australia Bank, Reuters, U.S, New Zealand, Fed, MFS Investment Management, Bank of England Locations: Katwijk , Netherlands, Asia

Sept 18 (Reuters) - Cadence Bank (CADE.N) CEO Dan Rollins calls the regional banking crisis from earlier this year "March madness." Interviews with half a dozen regional bank executives and economists show the March banking crisis has had a lasting impact on the regional banking industry and the economy. Torsten Slok, chief economist at Apollo Global Management, said the banking crisis had "a magnifying effect" on the Fed's tightening but its full impact would come with a lag. The failure triggered a crisis of confidence, with depositors moving their money from regional banks to the perceived safety of the largest lenders. The KBW Regional Bank Index (.KRX) is down about 20% since early March despite a summer rebound.

Persons: Dan Rollins, Rollins, Mark Zandi, ”, Zandi, Torsten Slok, Slok, Cadence's Rollins, Steve Wyett, Wyett, Banks, Cadence’s Rollins, Randy Chesler, Chesler, Moody's Zandi, Jeff Jackson, Raj Singh, Singh, Paritosh Bansal, Anna Driver Organizations: Cadence Bank, Moody’s, Apollo Global Management, Bank, Reuters Graphics, Valley, Regional, BOK, Federal, Loan, Thomson Locations: . Federal, Silicon, Tulsa , Oklahoma, Kalispell , Montana, Wheeling , West Virginia

☆ South Korean AI chip intellectual property startup valued at $81.4 million
▼ + stars: | 2023-09-14 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsSept 14 (Reuters) - The South Korean chip startup Panmnesia has raised a seed round that values it at $81.4 million, the company has said. Chip design software makers Synopsys (SNPS.O) and Cadence Design Systems (CDNS.O) have expressed interest in the company's technology, Jung said. The company raised $12.5 million led by Daekyo Investment. Other investors included SL Investment, Smilegate Investment, GNTech Venture Capital, Time Works Investment, Yuanta Investment and Quantum Ventures Korea. The South Korean government aims to spur the domestic AI chip industry and plans to spend $800 million over the next five years in an attempt to increase the share of Korean AI chips in domestic data centers to 80% in 2030 from essentially zero.

Persons: Dado Ruvic, Myoungsoo Jung, Jung, Max A, Gerry Doyle Organizations: REUTERS, Reuters, Cadence Design Systems, Cadence, Daekyo Investment, SL Investment, Smilegate Investment, GNTech Venture, Time Works Investment, Yuanta, Quantum Ventures, South, Thomson Locations: Quantum Ventures Korea, Korean, San Francisco

☆ Arm’s $52 bln IPO value sets stage for a fall
▼ + stars: | 2023-09-14 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Arm’s IPO investors are effectively paying a slight premium while also betting that both growth and profitability are about to soar. Haas could then charge higher royalty rates. In the last calendar year, the company estimated that its royalty revenue equated to 1.7% of total worldwide spending on Arm-based chips. It’s not clear how many important Arm customers like Apple (AAPL.O), Nvidia (NVDA.O) and Samsung Electronics (005930.KS) have agreed to pay higher royalty rates. Nor will rising royalty rates necessarily compensate for possibly ongoing sluggish sales of smartphones, its key historic market.

Persons: Rene Haas, Haas, It’s, SoftBank, Liam Proud, Sharon Lam Organizations: Reuters, SoftBank Group, Cadence Design Systems, Apple, Nvidia, Samsung Electronics, Reuters Graphics Reuters, Thomson Locations: KS, British, New York

Arm, the chip design firm that supplies core technology to firms including Apple and Nvidia , priced its IPO at $52 a share, according to a source familiar with the matter. Arm is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company's outstanding shares. The offering is priced above Arm's expected price range of $47 to $51. It's set to be the biggest technology IPO of the year. Arm's instruction set uses less power than the x86 architecture used in PC and server chips by Intel and AMD.

Organizations: Apple, Nvidia, Nasdaq, Google, Samsung, AMD, Intel, Taiwan Semiconductor Manufacturing Company

☆ Virgin Galactic launches three paying customers to space
▼ + stars: | 2023-09-08 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —Virgin Galactic notched its third commercial spaceflight, launching three paying customers on a roughly 90-minute flight that briefly touched the edge of space. Also on board were two Virgin Galactic pilots, commander Nicola Pecile and Michael Masucci. Virgin Galactic stock has shed more than 30% of its value over the past month despite the company’s recent successes. On its first commercial launch, Virgin Galactic carried members of the Italian air force and an Italian engineer on a science research mission. All told, Virgin Galactic has sold about 800 tickets, including 600 at earlier price points up to $250,000 and, more recently, another couple hundred at $450,000 per ticket.

Persons: Virgin Galactic’s, Ken Baxter, Timothy Nash, Adrian Reynard, Nicola Pecile, Michael Masucci, Beth Moses, Virgin Galactic, Richard Branson, Michael Colglazier, Jeff Bezos, Jon Goodwin, Baxter, “ I’ve, Sir Richard, ”, Ken Baxter's Organizations: CNN, Virgin Galactic, Virgin, VSS Unity, America Locations: Vegas, British, South Africa, United Kingdom, New Mexico, Texas, Italian, Antigua

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