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Toshiba&#39;s delisting and the shift to private ownership will now be under the scrutiny of the Japanese government, as the company is deemed crucial to national security and employs around 106,000 people.

End Of An Era: Toshiba Delisted From Tokyo Stock Exchange After 74 Years

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Western Digital Corp (NASDAQ: WDC) stock is trading lower Tuesday after reports claimed that SK Hynix 

What&#39;s Going On With Western Digital Stock Tuesday?

Western Digital Set To Merge With Japan&#39;s Kioxia, Further Consolidating Chip Market

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Toshiba Corp (OTC: TOSBF) (OTC: TOSYY) announces that the $14 billion tender offer from Japan Industrial Partners (JIP) 

Toshiba Confirms $14B JIP Takeover Success, Set To Go Private

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Toshiba Corp (OTC: TOSBF) (OTC: TOSYY) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.

Toshiba Board Urges Shareholders To Approve $14B Takeover: Report

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Japanese tech giant Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSBF#OTC">TOSBF</a>), (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) concluded its 74-year presence on the Tokyo stock exchange on Wednesday, bringing an end to a tumultuous decade marked by scandals and a substantial $14 billion buyout.
What Happened: The tech behemoth will now shift to private ownership under a consortium led by Japan Industrial Partners (JIP) and including Orix Corp, Chubu Electric Power Co. Inc., and Rohm Co Ltd, as reported by Reuters.
This change comes in the wake of a sequence of controversies and overseas investor disputes that heavily impacted the company&#8217;s operations. The future of Toshiba under its new ownership is not yet clear, but it is expected that CEO Taro Shimada will focus on high-profit digital services.
See Also: <a href="https://www.benzinga.com/news/23/12/36272048/mary-trump-exposes-possible-motive-behind-donald-trumps-missing-intelligence-binder-he-would-never-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump Exposes Possible Motive Behind Donald Trump&#8217;s Missing Intelligence Binder: &#8216;He Would Never See</a>
The board of Toshiba will be joined by four executives from JIP, one representative each from Orix and Chubu Electric, and a senior advisor from Sumitomo Mitsui Financial Group Inc, the main lender for Toshiba.
Under the new ownership, Toshiba has already partnered with investor Rohm to invest $2.7 billion in manufacturing facilities for power chip production.
Why It Matters: Toshiba was valued at $16 billion in the<a href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid"> takeover bid in October 2022</a>. 
In September 2023, the <a href="https://www.benzinga.com/markets/equities/23/09/34787210/toshiba-confirms-14b-jip-takeover-success-set-to-go-private">$14 billion tender offer from JIP</a> was successful, enabling the troubled tech conglomerate to go private. The successful completion of the tender offer was confirmed with the tendering of 340.46 million shares exceeding the minimum required.
Toshiba&#8217;s delisting and the shift to private ownership will now be under the scrutiny of the Japanese government, as the company is deemed crucial to national security and employs around 106,000 people.
Read Next: <a href="https://www.benzinga.com/markets/equities/23/12/36279965/trump-says-record-high-stock-market-just-making-rich-people-richer-blasts-bidens-inflation-catas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says Record-High Stock Market Just &#8216;Making Rich People Richer,&#8217; Blasts Biden&#8217;s &#8216;Inflation Catastrop</a>
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Western Digital Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) stock is trading lower Tuesday after reports claimed that&nbsp;SK Hynix&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/10/35243715/western-digital-set-to-merge-with-japans-kioxia-further-consolidating-chip-market" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">opposed the Japanese chipmaker&#39;s</a>&nbsp;deal with&nbsp;Kioxia Holdings.
South Korea&#39;s SK Hynix, which has an indirect stake in Kioxia, is unwilling to negotiate the integration of the semiconductor division of the former&nbsp;Toshiba Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>), Nikkei&nbsp;<a class="editor-rtfLink" href="https://www.nikkei.com/article/DGXZQOUC101YK0Q3A011C2000000/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>. The consent is vital for the merger.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/10/35286394/nvidia-stock-is-falling-tuesday-heres-why" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nvidia Stock Is Falling Tuesday - Here&#39;s Why</a>
SK approached&nbsp;Softbank Group Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sftbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFTBF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sftby#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFTBY</a>) to cooperate lest the integration negotiations fail.
Japanese chipmaker Kioxia and its U.S. peer Western Digital are eying a merger to create a holding company to integrate their operations producing NAND flash memory chips, widely used in devices such as PCs and smartphones.
Western Digital shareholders will own over 50% of the new company, and Kioxia will hold the remaining stake. The combined entity will likely list on the Nasdaq.
The combined market share of Kioxia and Western Digital for NAND memories stood at 35.4% as of March, vs.&nbsp;Samsung Electronics Co, Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssnlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSNLF</a>) at 34.3%.
Price Action:&nbsp;WDC shares traded lower by 2.30% at $44.74 on the last check Tuesday.

What's Going On With Western Digital Stock Tuesday?

Japanese chipmaker&nbsp;Kioxia Holdings&nbsp;and its U.S. peer&nbsp;Western Digital Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) are expected to <a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33252253/western-digital-and-kioxia-merger-plans-signal-potential-flash-market-challenge-to-samsung-analyst-s" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">agree on a merger soon</a>.
What Happened: The two companies look to set up a holding company to integrate their operations producing NAND flash memory chips, widely used in devices such as PCs and smartphones.
The combined entity will likely list on the Nasdaq stock exchange, the Japan Times <a class="editor-rtfLink" href="https://www.japantimes.co.jp/business/2023/10/13/kioxia-western-digital-merger/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported</a>.
See Also:<a class="core-block" href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion" target="_blank">&nbsp;Microsoft&#39;s Gaming Powerhouse Grows - Activision Blizzard Bought For $69 Billion</a>
Western Digital shareholders will own over 50% of the new company; Kioxia will hold the remaining stake.
Kioxia shareholders include&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>), which owns about 40% of the chipmaker.
See Also: <a href="https://www.benzinga.com/news/large-cap/23/09/34593085/is-arm-a-buy-after-record-ipo-ceo-insights-ongoing-lawsuit-and-financials">Is ARM A Buy After Record IPO? CEO Insights, Ongoing Lawsuit, And Financials</a>
Why It Matters: The combined market share of Kioxia and Western Digital for NAND memories stood at 35.4% as of March. South Korea&#39;s&nbsp;Samsung Electronics Co, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>) accounted for 34.3%.
Previous reports indicated combining their flash memory businesses could boost competitiveness against&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/05/32385128/kioxia-and-western-digital-fast-track-merger-discussions-nearing-a-deal" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">rivals like Samsung</a>.&nbsp;&nbsp;Activist investor&nbsp;Elliott Management&nbsp;had pushed the U.S. company to split off its flash-memory business from its hard-drive division.
Megabanks, including&nbsp;MUFG Bank&nbsp;and the state-backed&nbsp;Development Bank of Japan, are considering providing loans of up to about &yen;1.9 trillion ($12.7 billion) to help consummate the deal.
Currently, Kioxia and Western Digital jointly operate plants in Iwate and Mie prefectures.
Japan is becoming a <a class="editor-rtfLink" href="https://www.benzinga.com/government/23/10/35221188/japan-boosts-semiconductor-sector-with-tsmcs-13-3b-investment" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">destination </a>to set up chip plants like&nbsp;Taiwan Semiconductor Manufacturing Company Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) amid growing geopolitical tensions between the U.S. and China.
The Japanese government overhauled its chip strategy to triple sales of domestically produced semiconductors to over 15 trillion yen&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/06/32731019/japans-bold-chip-strategy-tripling-domestic-semiconductor-sales-by-2030" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">($108 billion) by 2030</a>.
Price Action:&nbsp;WDC shares traded higher by 0.48% at $45.84 on the last check Friday.
Now Read: <a href="https://www.benzinga.com/general/gaming/23/10/35243252/end-of-an-era-activision-blizzard-ceo-bobby-kotick-confirms-exit-after-microsoft-deal">End Of An Era - Activision Blizzard CEO Bobby Kotick Confirms Exit After Microsoft Deal</a>

Western Digital Set To Merge With Japan's Kioxia, Further Consolidating Chip Market

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34790544/weekly-jobless-claims-unexpectedly-fall-20k-to-201k" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Weekly Jobless Claims Unexpectedly Fall 20K To 201K</a>
<ul>
<li>Weekly Initial Jobless Claims&nbsp;were 201,000, a decrease of 20,000 from the previous week&#39;s revised level, according to data the Labor Department released on Thursday.</li>
<li>The number is below the average economist estimates of 225,000 and lower than the previous week&#39;s revised level.</li>
<li>The previous week&#39;s level was revised up by 1,000 from 220,000 to 221,000.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/09/34790161/splunk-gets-acquired-by-cisco-stock-shoots-higher" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cisco to Acquire Splunk, Stock Shoots Higher</a>
<ul>
<li>Cisco Systems Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) agreed to acquire&nbsp;Splunk Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/splk#NASDAQ">SPLK</a>) for $157 per share in cash, representing approximately $28 billion in equity value, triggering a rally in Splunk&#39;s stock prices. Meanwhile, Cisco stock prices fell.</li>
<li>The purchase price implies a premium of 31.3% on Splunk&#39;s September 20 closing of $119.59.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/09/34787337/biden-administration-restarts-distribution-of-free-at-home-covid-19-tests-after-suspending-for-year" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Biden Administration Restarts Distribution Of Free At Home COVID-19 Tests, After Suspending For Year</a>
<ul>
<li>The Biden administration declared that it would recommence offering free at-home COVID tests to American households starting next Monday in response to the escalating spread of the virus nationwide.</li>
<li>Last September, the federal government suspended its offer of free at-home COVID-19 tests.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34783759/feeling-the-brew-starbucks-announces-a-juicy-dividend-hike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Feeling The Brew! Starbucks Announces A Juicy Dividend Hike</a>
<ul>
<li>Starbucks Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) said its Board of Directors approved a 7.5% increase in the company&#39;s quarterly cash dividend from $0.53 to $0.57 per share.</li>
<li>This raises the company&#39;s annual dividend rate to $2.28 per share.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34786213/keurig-dr-pepper-stirs-things-up-picks-consumer-packaged-goods-veteran-tim-cofer-as-next-ceo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Keurig Dr Pepper Stirs Things Up: Picks Consumer Packaged Goods Veteran Tim Cofer As Next CEO</a>
<ul>
<li>Keurig Dr Pepper Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kdp#NASDAQ">KDP</a>) has appointed Tim Cofer as Chief Operating Officer, effective Nov.6, 2023, reporting to Chairman &amp; CEO Bob Gamgort.</li>
<li>Cofer will assume the Chief Executive Officer role in the second quarter of 2024.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34790922/kraft-heinz-in-meltdown-83-800-cases-of-singles-recalled-as-consumers-choke-on-plastic-stuck-to-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Kraft Heinz In Meltdown: 83,800 Cases Of Singles Recalled As Consumers Choke On Plastic Stuck To Cheese Slices</a>
<ul>
<li>The Kraft Heinz Company&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) voluntarily recalled approximately 83,800 cases of individually wrapped Kraft Singles American processed cheese slices owing to the choking hazard of some of its wrappers.</li>
<li>The said batch of Kraft Singles American processed cheese slices was shipped to a limited number of customers.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34787271/googles-power-move-broadcom-ditched-in-favor-of-marvell-amid-ai-chip-wars" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Google&#39;s Power Move: Broadcom Ditched in Favor of Marvell Amid AI Chip Wars</a>
<ul>
<li>Broadcom Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) stock is trading lower Thursday amid reports of&nbsp;Alphabet Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>)&nbsp;Google&nbsp;dropping the supplier of artificial intelligence chips by 2027.</li>
<li>Meanwhile,&nbsp;Marvell Technology Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrvl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRVL</a>) stock started gaining amid reports of Google working since 2022 to replace Broadcom with chipmaker Marvell for an advanced chip internally code-named Granite Redux.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/09/34778555/nio-races-past-tesla-with-900-smartphone-launch-to-turbocharge-ev-rivalry" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio Races Past Tesla With $900 Smartphone Launch To Turbocharge EV Rivalry</a>
<ul>
<li>Nio Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) has entered the smartphone arena to set itself apart from competitors in China&#39;s fiercely competitive electric vehicle market.</li>
<li>Nio&#39;s CEO,&nbsp;William Li, introduced the&nbsp;Nio Phone&nbsp;in Shanghai, China&#39;s commercial hub, unveiling its unique features, such as the ability to control multiple cars with a single device and unlock a car even when switched off.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34787210/toshiba-confirms-14b-jip-takeover-success-set-to-go-private" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Confirms $14B JIP Takeover Success, Set To Go Private</a>
<ul>
<li>Toshiba Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSBF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>) announces that the $14 billion tender offer from Japan Industrial Partners (JIP) succeeded, allowing the troubled conglomerate to go private.</li>
<li>The Tender Offer has been successfully completed since the total number of shares tendered, which amounted to 340.46 million shares, exceeded the minimum required.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34785078/unilever-ropes-in-morgan-stanley-to-launch-bid-for-sale-of-its-non-core-beauty-brands-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Unilever Ropes In Morgan Stanley To Launch Bid For Sale Of Its Non-Core Beauty Brands</a>
<ul>
<li>Unilever plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ul#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UL</a>) has reportedly roped in investment banks&nbsp;Morgan Stanley&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ms#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MS</a>) and&nbsp;Evercore Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/evr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EVR</a>) to sell some of its non-core beauty and personal care brands.</li>
<li>The brands under consideration also include Q-Tips and Impulse, which the company had previously considered for dilution two years ago.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34786012/ubs-slashes-70-of-credit-suisses-hk-research-staff-post-integration-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UBS Slashes 70% Of Credit Suisse&#39;s HK Research Staff Post-Integration</a>
<ul>
<li>UBS Group AG&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ubs#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UBS</a>) has reportedly terminated around 70% of the Hong Kong-based staff headcount at&nbsp;Credit Suisse&#39;s&nbsp;securities research unit soon after the two Swiss banking giants moved ahead with the integration of operations.</li>
<li>More than 15 equity researchers were informed earlier this week about the dismissals in Hong Kong.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34789740/vinfast-aims-to-ship-evs-to-europe-by-2023-end-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VinFast Aims To Ship EVs To Europe By 2023 End</a>
<ul>
<li>Vietnamese electric vehicle manufacturer&nbsp;VinFast Auto Ltd&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vfs#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VFS</a>) reportedly plans to ship its first batch of EVs to Europe this year after regulatory approval.</li>
<li>The company intends to ship about 3,000 of its VF8 crossovers to France, Germany, and the Netherlands in the fourth quarter.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34785041/breakthrough-in-hollywood-writers-and-producers-close-to-ending-100-day-strike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Breakthrough In Hollywood: Writers, Producers Close To Ending 100-Day Strike</a>
<ul>
<li>Paramount Global&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) and&nbsp;Warner Bros. Discovery Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/wbd#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WBD</a>) stocks are trading higher Thursday amid reports of Hollywood writers and producers nearing a deal to end the strike.</li>
<li>Negotiations to end the Writers Guild of America (WGA) strike have advanced significantly, with writers and producers meeting face-to-face on Wednesday.&nbsp;</li>
<li>The two sides are near an agreement and aim to finalize a deal by Thursday.</li>
</ul>
&nbsp;
Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34783161/instacart-and-arms-stock-decline-sparks-concerns-over-tech-sector-ipos" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Instacart and Arm&#39;s Stock Decline Sparks Concerns Over Tech Sector IPOs</a>
<ul>
<li>Investors in recently listed tech companies&nbsp;Arm Holdings Plc&nbsp;</li>
<li>(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/arm#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ARM</a>) and&nbsp;Instacart&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) are expressing concerns as both stocks have seen significant declines from their initial highs.&nbsp;</li>
<li>This development raises questions about the environment for new IPOs in the tech sector.</li>
<li>Arm CEO&nbsp;Rene Haas&nbsp;also acknowledged&nbsp;that Arm&#39;s growth in China primarily revolves around data centers and the automotive sector.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/09/34785167/transparency-concerns-arise-as-doj-limits-access-to-key-google-antitrust-evidence" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Transparency Concerns Arise as DOJ Limits Access to Key Google Antitrust Evidence</a>
<ul>
<li>The U.S. Department of Justice (DOJ) has made a contentious move by removing public access to crucial evidence in its antitrust lawsuit against&nbsp;Alphabet Inc&nbsp;NASDAQ: GOOG) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>)&nbsp;Google.</li>
<li>This decision has raised concerns about transparency in the landmark case.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34791439/ev-competition-kia-motors-launches-its-cheapest-ev-in-south-korea" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EV Competition: Kia Motors Launches Its Cheapest EV In South Korea</a>
<ul>
<li>Hyundai Motor Company&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) owned&nbsp;Kia Corp&nbsp;has launched its cheapest electric vehicle in South Korea, the Ray, which can seat only one person.</li>
<li>The least expensive battery-powered light passenger vehicle of the company has a starting price of about $20,000.</li>
</ul>
&nbsp;
Earnings
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34782454/homebuilder-kb-homes-q3-earnings-beat-14-topline-decline-lower-average-selling-price-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Homebuilder KB Home&#39;s Q3: Earnings Beat, 14% Topline Decline, Lower Average Selling Price &amp; More</a>
<ul>
<li>KB Home&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/kbh#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">KBH</a>) reported a third-quarter FY23 sales decline of 13.9% year-on-year to $1.59 billion, beating the analyst consensus of $1.48 billion.</li>
<li>Homes delivered in the quarter decreased 7% to 3,375, and the average selling price fell 8.3% to $466,300.</li>
<li>KB Homes sees FY23 housing revenue of $6.31 billion, up from the prior view of $5.80 billion-$6.20 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34790744/darden-restaurants-q1-earnings-beat-affirmed-fy24-outlook-new-board-chair-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Darden Restaurants Q1: Earnings Beat, Affirmed FY24 Outlook, New Board Chair &amp; More</a>
<ul>
<li>Darden Restaurants Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/dri#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DRI</a>) reported first-quarter FY24 sales growth of 11.6% year-on-year to $2.73 billion, beating the analyst consensus estimate of $2.71 billion.</li>
<li>The sales growth was driven by a blended same-restaurant sales increase of 5.0% and sales from the addition of 77 company-owned Ruth&#39;s Chris Steak House restaurants and 46 other net new restaurants.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34789195/factset-research-q4-marginal-revenue-beat-misses-on-bottomline-dull-fy24-outlook-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FactSet Research Q4: Marginal Revenue Beat, Misses On Bottomline, Dull FY24 Outlook &amp; More</a>
<ul>
<li>FactSet Research Systems Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/fds#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDS</a>) reported fourth-quarter FY23 sales growth of 7.3% year-on-year to $535.797 million, marginally beating the consensus of $535.280 million.&nbsp;</li>
<li>FactSet is providing its outlook for fiscal 2024. The company sees FY24 Adjusted EPS of 15.65-$16.15. The Street view stands at $16.65.</li>
</ul>

Weekly Jobless Claims Unexpectedly Fal, Google Ditches Broadcom In Favor of Marvell Chips, Hollywood Strike Might End: Today's Top Stories

Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) announces that the $14 billion tender offer from Japan Industrial Partners (JIP)&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/ww/ir/corporate.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">succeeded</a>, allowing the troubled conglomerate to go private.
The Tender Offer has been successfully completed since the total number of shares tendered, which amounted to 340.46 million shares, exceeded the minimum required.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775809/toshiba-board-urges-shareholders-to-approve-14b-takeover-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Toshiba Board Urges Shareholders To Approve $14B Takeover: Report</a>
In March, Toshiba agreed to a buyout offer that assessed the worth of the industrial conglomerate at 2 trillion yen (~$13.5 billion). While certain shareholders expressed dissatisfaction with the price, Toshiba contended that there were no indications of a better offer or competing bid in sight,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/jip-gains-7865-stake-toshiba-through-tender-offer-2023-09-20/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.
Toshiba is set for delisting from the stock exchange as early as December.
The company expressed its deep gratitude to numerous shareholders for their understanding of the company&#39;s situation in this regard. With new ownership, Toshiba Group is poised to take a significant step towards a new future.
Price Action:&nbsp;TOSYY shares closed lower by 0.06% at $15.44 on Wednesday.

As a heatwave charges across the U.S. affecting over half of the population, President Joe Biden issued a call to protect workers and invest in key areas to combat the impact of <a href="https://www.benzinga.com/topic/heat-wave">extreme weather events</a>.
What Happened: In a first, Biden directed the Department of Labor to issue a &#8220;Hazard Alert&#8221; emphasizing heat-related worker protections under federal law. Biden also pledged to step up inspections in high-risk sectors such as construction and agriculture.
The president's announcements came as scorching temperatures, especially in the South and Southwest, strained power grids, leading to power outages, heat-related injuries, and even deaths.
More than 151 million people are currently under some kind of heat alert, making the issue of climate change more urgent and palpable than ever.
Biden said his administration is set to invest up to $7 million from the Inflation Reduction Act to enhance weather forecasts and $152 million from the Bipartisan Infrastructure Law to expand water storage in drought-prone regions.
In the face of current extreme conditions, air conditioning has gone from being a luxury to a necessity.
<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/07/33393424/amazon-falls-following-reports-ftc-aims-to-break-up-the-company-a-technical-analysis">Benzinga previously reported</a> on data issued by SkyQuest Technology, which showed the air conditioning market is set to grow at a 6.2% compound annual growth rate from 2022 to 2028, reaching $172.48 billion by 2028.
Demand is highest in the Asia Pacific region, but North America and Europe are catching up quickly. In North America alone, the air conditioner market is projected to reach $35.6 billion in 2030, GrandView Research data showed.
A/C Enters the Room: As climate change turns up the heat, consumer electronics companies — particularly those manufacturing air conditioning units — stand to benefit.
U.S.-based Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) recently entered a deal to acquire Germany-based Viessmann Climate Solutions to expand in the European market. Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) and Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) are also seeing positive trends, according to <a href="https://www.benzinga.com/news/23/07/33272913/7-air-conditioner-stocks-for-this-summers-infernal-heat-wave">prior Benzinga reporting</a>.
In addition, non-U.S.-based companies like Electrolux AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELUXY#OTC">ELUXY</a>), Hitachi Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>), Mitsubishi Electric ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MIELY#OTC">MIELY</a>), and Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) are seeing favorable pricing trends.
As the demand for air conditioning surges, addressing the energy demands and environmental implications linked to their usage will remain a challenge. Read Next: <a href="https://www.benzinga.com/news/23/07/33273161/heatwave-havoc-june-2023-takes-the-title-for-hottest-month-on-record">Heatwave Havoc: June 2023 Takes The Title For Hottest Month On Record</a>
Photo: Shutterstock

Biden's 'Hazard Alert' Takes Aim At Worker Heat Protection Amid Sweeping US Heatwave

As the climate crisis keeps pushing heat metrics to new records, some territories on Earth are starting to periodically feature weather conditions that are <a href="https://www.benzinga.com/news/23/07/33177611/earth-is-screaming-meteorologist-warns-amid-unprecedented-heatwave-need-to-listen">too extreme for human life</a>.
The world is experiencing several focal points of extreme heat. Some cities in the American South and Southwest broke daily records this summer. Phoenix, Arizona is set to break a new record on Tuesday, as the Valley of the Sun enters its 19th consecutive day above 110 degrees F. The previous record of 18 consecutive days, from 1974, was tied on Monday.
During the weekend, the area of Death Valley in California marked a daily record of 128 degrees F, just a few degrees shy of reaching the highest temperature ever recorded on Earth.
But the magnitude of the crisis is global. Asia, the Middle East and Europe are also experiencing new heat records. On Sunday, the Xinjiang region of China broke its own record, reaching 126 degrees F. A heat wave is battering Italy, Greece and Spain. The heat index in Asaluyeh, Iran reached 152 degrees F on Monday.
<h3 class="wp-block-heading">The Rise Of The Air Conditioner</h3>
Far from isolated events, the rising temperature and humidity levels of recent years are consistent with climate change research. For the air conditioning industry, this means an unprecedented increase in demand, as air conditioning units shift in public perception from a luxury good to an item of first necessity.
In parts of the world where the wet-bulb temperature reaches 95 degrees F at 100% humidity, the human body is no longer able to maintain its homeostatic processes, and entering an air conditioned room becomes a matter of life and death.
Paradoxically, increased energy demand from the use of air conditioning is one of the largest contributors to greenhouse gas emissions, which in turn continue to contribute to global warming and extreme climate events. This type of process is referred to in climate science as a "positive feedback loop" and is specifically known as the "air conditioning paradox."
A global shift to clean sources of energy generation, <a href="https://www.benzinga.com/news/23/05/32355261/elon-musk-and-bill-gates-agree-on-something-how-public-support-for-nuclear-power-could-be-moving-for">including nuclear power</a>, will be needed in order to mitigate the environmental cost of rising air conditioner use.
According to a recent report published by research firm SkyQuest Technology, the air conditioning market is expected to experience an average compound annual growth rate of 6.2% from 2022 to 2028, reaching a value of $172.48 billion by 2028.
<a href="https://www.benzinga.com/news/23/06/33064887/if-summer-smoke-becomes-the-new-normal-in-the-midwest-and-northeast-which-industries-will-benefit">Worsening air quality in major urban centers</a> is another fuel for the industry's growth, which will stem primarily from the Asia Pacific region, followed by North America and Europe. Many territories that historically have not had a need for air conditioning are now seeing increased demand.
According to a separate report by GrandView Research, the total market for air conditioners in North America today stands at $24.6 billion and is expected to reach $35.6 billion in 2030.
Companies in the consumer electronics sector are some of the best situated to benefit from this growth. Some of the largest are U.S.-based, and the stocks have experienced rising prices throughout last month, partly riding <a href="https://www.benzinga.com/news/23/07/33167227/narrow-rally-top-6-tech-companies-drive-tech-sectors-historic-half-year-performance-analyst-says">the positive wave sweeping across the tech sector</a>.
<ul>
<li>Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) is up 15.5% in the last month. Last week, four analysts raised their Carrier price targets to between $49 and $54 vs. a current stock price of $55. The company recently agreed to acquire Germany-based Viessmann Climate Solutions in a 12-billion-euro ($13.4 billion) cash-and-stock deal that will make it strategically positioned to advance in the European market. Carrier will reports its earnings for the second quarter on July 27.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is up 4.7% in the last month and its second-quarter results are due on July 24.</li>
<li>Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) is up 5.4% in the last month. Its third-quarter results are expected to come in early August.</li>
</ul>
Other air conditioner giants not headquartered in the U.S. have also experienced a positive pricing trend in the last month.
<ul>
<li>Class B ADR shares of Swedish manufacturer Electrolux (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELUXY#OTC">ELUXY</a>) are up 10.8% in the last month.</li>
<li>Japanese conglomerate Hitachi Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>) is up 4% in the last month.</li>
<li>ADR shares of Mitsubishi Electric (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MIELY#OTC">MIELY</a>) are up 7.1% in the last month.</li>
<li>Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) is up 2.1% in the last month.</li>
</ul>
Image made using MidJourney AI.

7 Air Conditioner Stocks For This Summer's Infernal Heat Wave

HSBC Holdings, Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) looks to test an advanced&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/03/26138073/banks-fear-swift-will-be-next-russian-cyberattack-target" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">data-security system</a>&nbsp;run by U.K. telecom giant&nbsp;BT Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/btgof#OTC">BTGOF</a>),&nbsp;Amazon.com Inc&rsquo;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) AWS cloud and Japan&rsquo;s&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>).
The quantum essential distribution type of cyber defense could mark an important part of the defense strategy for companies like HSBC, helping help protect trillions of dollars of transactions from increasingly sophisticated hackers, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-07-04/hsbc-tests-quantum-tech-in-london-to-guard-against-future-hacks?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/33003252/hsbc-will-exit-canary-wharf-set-up-new-hq-in-an-effort-to-reduce-real-estate-costs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HSBC Will Exit Canary Wharf, Set Up New HQ In An Effort To Reduce Real Estate Costs</a>
&ldquo;As technology develops and current methods begin to be defeated, we have to make sure we have the most up-to-date robust encryption and security standards,&rdquo; HSBC CEO for Europe Colin Bell said in an interview.
Participating in the trial involves the bank installing equipment to send test data 62 kilometers (38.5 miles) between its headquarters in London&rsquo;s Canary Wharf financial district and a data center in the neighboring county Berkshire.&nbsp;
HSBC said the trial would help it better analyze threats and determine how to protect data.
Quantum key distribution allows two remote parties to agree on a shared secret key to encrypt and decrypt data.&nbsp;
In 2022,&nbsp;JP Morgan Chase &amp; Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) acknowledged demonstrating the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers as part of a system also involving Toshiba.
Price Action:&nbsp;HSBC shares traded lower by 0.75% at $39.65 premarket on the last check Wednesday.

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773072/balancing-profitability-and-entertainment-amazon-considers-launching-ad-supported-prime-video-tier" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Balancing Profitability and Entertainment: Amazon Considers Launching Ad-Supported Prime Video Tier</a>
<ul>
<li>Amazon.Com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) looks to launch an advertising-supported Prime Video streaming service tier to build its ad business further and generate more entertainment revenue.</li>
<li>Advertising has been an area of continued growth for Amazon, growing by 21% year over year to $9.5 billion in the first quarter.</li>
<li>Advertisers expressed interest in Amazon offering an ad tier for Prime Video service, likely to inspire other streaming platforms, including&nbsp;Netflix Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) and&nbsp;Walt Disney Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>).</li>
<li>Specifically, ad buyers claimed more access to premium movies and programs that have mainly remained ad-free.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775746/dilemma-of-ad-transparency-google-and-microsoft-face-backlash-for-ad-inclusion-in-ai-trials" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dilemma of Ad Transparency: Google and Microsoft Face Backlash for Ad Inclusion in AI Trials</a>
<ul>
<li>Alphabet Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;and&nbsp;Microsoft Corp&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) inserting of ads into AI trials without any opt-out option has irked some brands.</li>
<li>Microsoft is testing ads in the Bing AI chatbot by migrating some traditional search ads and inserting them into the AI responses.</li>
<li>Both companies are in the early stages of testing ads in generative AI features in their race to revamp their search engines with AI capable of written responses to open-ended queries.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32774599/blackrock-seeks-7b-for-new-global-renewable-power-fund-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Seeks $7B For New Global Renewable Power Fund</a>
<ul>
<li>BlackRock Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) plans to raise up to $7 billion for its fourth Global Renewable Power Fund.</li>
<li>The fund, which focuses on projects in Organisation for Economic Co-operation and Development nations, might invest in wind and solar power and other green technology like batteries and grid infrastructure.</li>
<li>The U.S. and the European Union introduced significant financial backing for clean energy to help curb carbon emissions in the fight against global warming, which has fueled the movement.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775809/toshiba-board-urges-shareholders-to-approve-14b-takeover-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Board Urges Shareholders To Approve $14B Takeover</a>
<ul>
<li>Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.</li>
<li>The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.</li>
<li>In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was &quot;fair and reasonable,&quot; with no prospects of a better offer or rival bid.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32775465/airbus-records-34-growth-in-may-deliveries" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Airbus Records 34% Growth In May Deliveries</a>
<ul>
<li>Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) delivered 63 airplanes to 36 customers in May, up 34% year-over-year. The total number of deliveries this year totaled 244 airplanes to 70 customers. For May 2023, gross orders were 17.</li>
<li>The company has recently received a firm order for 43 helicopters from business aviation operator Air Corporate in Italy.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32776205/fda-signals-support-for-eisai-biogen-alzheimers-drug-data-confirms-benefits-for-complete-approval" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Signals Support for Eisai-Biogen Alzheimer&#39;s Drug Data Confirms Benefits For Complete Approval</a>
<ul>
<li>FDA Peripheral and Central Drugs Advisory Committee is meeting Friday (June 9) to discuss a supplemental marketing application for Leqembi (lecanemab) submitted by&nbsp;Eisai Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esaly#OTC">ESALY</a>) for Alzheimer&#39;s disease, initiated in patients with mild cognitive impairment or mild dementia stage of the disease.</li>
<li>Wednesday, the FDA released briefing documents ahead of the meeting that appears to support a full FDA approval for Leqembi.</li>
<li>In the study, Leqembi was tested against a placebo in patients with mild cognitive impairment due to Alzheimer&#39;s or mild Alzheimer&#39;s dementia.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/06/32775143/novartis-sandoz-foresees-rapid-growth-post-spin-off-in-generics-market-amid-upcoming-patent-expira" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Novartis&#39; Sandoz Foresees Rapid Growth Post-Spin-Off in Generics Market Amid Upcoming Patent Expirations</a>
<ul>
<li>Novartis AG&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvs#NYSE">NVS</a>) generics unit Sandoz tells investors it can add $3 billion in annual sales over the next five years from launching new products after it spins out of its parent company later this year.</li>
<li>Sandoz says the biosimilar pipeline has trebled in size over recent years, with 24 products, on top of a core generic pipeline of more than 400 products.</li>
<li>Novartis confirmed it expected Sandoz to generate mid-single-digit net sales growth this year and anticipated that the growth rate would remain in this range between 2024 - 2028.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32773742/blackrock-boosts-global-credit-business-with-kreos-capital-buyout" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Boosts Global Credit Business With Kreos Capital Buyout</a>
<ul>
<li>BlackRock Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) announced a deal to acquire&nbsp;Kreos Capital&nbsp;for undisclosed terms.</li>
<li>Kreos offers growth and venture debt financing to companies in the technology and healthcare industries.</li>
<li>Kreos is headquartered in London, and its 45-person team will join BlackRock as part of the transaction.</li>
<li>The acquisition will complement BlackRock&#39;s Global Credit business and enhance its position as a global credit asset manager.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773385/amid-industry-trend-microsoft-markets-times-square-offices-for-sublease" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amid Industry Trend, Microsoft Markets Times Square Offices for Sublease</a>
<ul>
<li>Microsoft Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) prepared to sublease offices in Manhattan&#39;s Times Square as peers pared back real estate.</li>
<li>The tech firm is marketing over 42,000 square feet (3,900 square meters) of offices at 11 Times Square.</li>
<li>Microsoft, which has been downsizing its workforce, reduced its real estate presence, including abandoning plans for a new office complex in London.</li>
</ul>
&nbsp;
Techcrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773833/uber-launches-peer-to-peer-car-sharing-in-north-america-marking-sustainability-efforts" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Uber Launches Peer-to-Peer Car Sharing in North America, Marking Sustainability Efforts</a>
<ul>
<li>Uber Technologies Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uber#NASDAQ">UBER</a>) disclosed plans to bring peer-to-peer car sharing to North America, starting with Toronto and Boston, at its Go-Get product event in London Thursday.&nbsp;</li>
<li>It marks the company&#39;s sustainability move and part of its effort to curb emissions&mdash; goals it repeatedly mentioned during the event.</li>
<li>Customers in Uber Carshare cities can use the app to browse and reserve vehicles, which will be available for rent by the hour or the day.&nbsp;</li>
</ul>
Photo via Company

Amazon Considers Launching Ad-Supported Prime Video Tier, Google & Microsoft Face Backlash For Ad Inclusion In AI Trials, Airbus Records One-Third Jump In May Deliveries: Today's Top Stories

Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.
The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.
In March, Toshiba accepted a buyout offer from the group. The bidding group led by Japanese fund Japan Industrial Partners (JIP) Inc&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/02/31085897/toshibas-15b-buyout-deal-in-trouble-foreign-investors-might-drop" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">includes domestic firms</a>.
In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was &quot;fair and reasonable,&quot; with no prospects of a better offer or rival bid,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/toshiba-board-recommends-shareholders-support-tender-offer-by-jip-led-consortium-2023-06-08/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.
The industrial conglomerate&#39;s value was put at 2 trillion yen ($14.31 billion) by the takeover bid, which the board felt that the offer price of 4,620 yen per share was too low to encourage shareholders to submit their shares, added the report.
Further, the report noted Toshiba believes the buyout would help build &quot;a stable management base to implement a consistent business strategy to reform and grow the company over the medium to long term.&quot;
Price Action:&nbsp;TOSYY shares closed lower by 0.62% at $16.10 on Wednesday.

RICOF

Ricoh Co And Toshiba Corp To Combine Office Printer, Copier Production; Deal Will Merge Manufacturing Handled By Ricoh And Toshiba Tec Into A Single Company In 2024 - Nikkei Asia

<ul>
<li>Kioxia Holdings Corp&nbsp;and&nbsp;Western Digital Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/01/30292561/western-digital-japans-kioxia-holdings-resume-merger-talks-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">accelerated merger talks</a>&nbsp;have progressed towards a deal as plunging market demand and oversupply of chips weighed on the companies.</li>
<li>Kioxia would have a 43% stake and Western Digital a 37% ownership under the deal, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/kioxia-western-digital-speed-up-merger-talks-memory-chip-demand-slumps-sources-2023-05-15/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cites</a>&nbsp;familiar sources.</li>
<li>Combining their flash memory businesses could boost competitiveness against rivals like South Korea&#39;s&nbsp;Samsung Electronics Co, Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssnlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSNLF</a>).</li>
<li>The planned merger will also likely draw anti-trust scrutiny in several countries, including the U.S. and China.</li>
<li>Activist investor&nbsp;Elliott Management, which owns convertible preferred shares in Western Digital, has pushed the U.S. company to split off its flash-memory business from its hard-drive division since investing in&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/02/30660944/apollo-and-elliott-invest-900m-in-western-digital-likely-to-aid-in-evaluating-strategic-alternatives" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the stock in 2022</a>.&nbsp;</li>
<li>Such a split would precede the flash memory combination with Kioxia. Also, the merged company might seek a listing after the deal.</li>
<li>Elliott is also a shareholder of&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>), which owns 40.6% of Kioxia.</li>
<li>Kioxia&#39;s falling valuation is one of the factors that dragged down Japan Industrial Partners (JIP) buyout offer price for Toshiba.</li>
<li>A combined Kioxia-Western Digital would control a third of the global NAND flash market, putting it on par with Samsung.</li>
<li>Analysts say Kioxia and Western Digital have been more vulnerable to NAND flash market volatility than Samsung and&nbsp;SK Hynix Inc.</li>
<li>Price Action:&nbsp;WDC shares traded higher by 2.72% at $33.93 premarket on the last check Monday.</li>
</ul>

Kioxia And Western Digital Fast-Track Merger Discussions, Nearing A Deal

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31473846/apple-in-a-cinema-near-you-soon-streaming-rivalry-heats-up-as-apple-to-splurge-on-original-theatrica" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple, In A Cinema Near You Soon: Streaming Rivalry Heats Up As Apple To Splurge On Original Theatrical Releases</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) eyes splurging $1 billion annually to produce movies likely for theatrical release to draw subscribers to its streaming service.</li>
<li>Apple has approached movie studios about partnering to release a few titles in theaters this year and a slate of more films in the future.</li>
<li>The list of potential releases includes Martin Scorsese&#39;s Killers of the Flower Moon, which stars Leonardo DiCaprio; the spy thriller Argylle, from director Matthew Vaughn, and Napoleon, Ridley Scott&#39;s drama about the French conqueror.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470944/toshiba-accepts-15b-acquisition-bid-from-jip-group-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Accepts $15B Acquisition Bid From JIP Group</a>
<ul>
<li>Toshiba Corp (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>) has reportedly accepted an acquisition offer from a Japanese consortium.</li>
<li>The company&#39;s board approved a bid of $15.3 billion from a group led by private equity firm Japan Industrial Partners Inc. The offer price represents a 9.6% premium to Toshiba&#39;s closing price on March 23.</li>
<li>The group comprises about 20 Japanese companies, including Orix Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IX</a>), Rohm Co, and Chubu Electric Power Co.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470270/other-side-of-ai-online-content-publishers-evaluate-legal-options-against-content-usage-by-microsoft" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Other Side Of AI: Online Content Publishers Evaluate Legal Options Against Content Usage By Microsoft, Google&#39;s AI Bots</a>
<ul>
<li>Online content publishers see a threat from artificial intelligence technology&#39;s capabilities since the arrival of chatbots capable of conversations, making up sonnets, and acing the LSAT.</li>
<li>Lately, publishing executives have begun examining the extent of their content use to &quot;train&quot; AI tools like ChatGPT to evaluate compensation and legal options.</li>
<li>Whether AI companies have the legal right to scrape content off the internet and feed it into their training models became a major debatable point.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/03/31469949/manchester-united-attracts-record-takeover-bid-from-british-billionaire-jim-ratcliffe" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Manchester United Attracts Record Takeover Bid From British Billionaire Jim Ratcliffe</a>
<ul>
<li>British billionaire Sir Jim Ratcliffe&#39;s bid could value England&#39;s Manchester United Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/manu#NYSE">MANU</a>) Manchester United Football Club at a record of over &pound;5 billion.</li>
<li>Ratcliffe, the founder of the Ineos chemicals empire, is contending against Qatari businessman Sheikh Jassim bin Hamad al-Thani for the takeover.</li>
<li>In 2021, Glazers said they would consider selling United as part of a strategic review involving raising capital or finding partners to invest in Old Trafford after Chelsea Football Club buyout for &pound;2.5 billion.</li>
<li>Several investment firms are keen on bagging a minority stake in Manchester United.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31473005/british-chip-designer-arm-proposes-to-charge-more-for-chip-designs-to-boost-topline-ahead-of-ipo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">British Chip Designer Arm Proposes To Charge More For Chip Designs To Boost Topline Ahead Of IPO</a>
<ul>
<li>British chip designer Arm Ltd is seeking to raise prices for its chip designs. </li>
<li>The Softbank Group Corp (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/sftbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFTBF</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/sftby#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFTBY</a>)-owned group aims to boost revenues ahead of a hotly anticipated U.S. initial public offering in 2023.</li>
<li>Arm has recently informed several of its biggest customers of a shift to its business model.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470536/meta-loses-veteran-ad-official-amid-current-organizational-restructuring" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta Loses Veteran Ad Official Amid Current Organizational Restructuring</a>
<ul>
<li>Meta Platforms Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) veteran advertising product executive Dan Levy prepares to depart in May amid a months-long pruning of projects and staff.</li>
<li>Levy, currently Meta&#39;s vice president of business messaging, said in Meta&#39;s internal social network post on Monday that he wanted to focus on family after losing a child to leukemia.</li>
<li>&quot;I made this decision slowly (over the last 2+ years), and then all of a sudden,&quot; he wrote.</li>
</ul>

The Information
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31469910/elon-musk-now-rumored-to-seek-funding-for-spacex-from-middle-east-after-infamous-tesla-snub" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk Now Rumored To Seek Funding For SpaceX From Middle East After Infamous Tesla Snub</a>
<ul>
<li>Elon Musk&#39;s SpaceX is reportedly looking at investment from a unit of Saudi Arabia&#39;s investment fund and an Abu Dhabi-based company.</li>
<li>Badeel &mdash; Saudi Arabia&#39;s Water and Electricity Holding Company, part of the country&#39;s Public Investment Fund &mdash; and the United Arab Emirates&#39; Alpha Dhabi are involved in SpaceX&#39;s multibillion-dollar funding round.</li>
<li>The funding round is expected to value SpaceX at about $140 billion.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470922/elon-musk-and-openai-ceo-sam-altman-continue-warnings-on-risks-of-artificial-intelligence-heres-how" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk and OpenAI CEO Sam Altman Continue Warnings on Risks of Artificial Intelligence: Here&#39;s How It Could Be Used Maliciously</a>
<ul>
<li>Following the highly anticipated release of ChatGPT&#39;s successor GPT-4 earlier this month, OpenAI&#39;s CEO Sam Altman has raised concerns regarding the dangers of artificial intelligence (AI). </li>
<li>This isn&#39;t the first time a tech mogul has voiced support for regulating AI. Billionaire polymath Elon Musk, who co-founded OpenAI along with Altman in 2015, has advocated for the same over the past decade. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31469332/not-biden-bill-ackman-says-this-corporate-ceo-more-likely-to-win-against-trump-in-presidential-race" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Not Biden, Bill Ackman Says This Corporate CEO More Likely To Win Against Trump In Presidential Race</a>
<ul>
<li>Bill Ackman shared his choice of presidential candidate in a recent podcast.</li>
<li>If the choice is between President Joe Biden and Donald Trump, then Trump will likely win, the founder of hedge fund Pershing Square Capital Management said in the 20VC podcast published on Monday.</li>
<li>Suppose Biden decides to run for office again, which is approaching certainty. In that case, it&#39;s an interesting opportunity for someone not inside the political system to run for office on the Democratic side, Ackman said.</li>
<li>&quot;My favorite version of events is Jamie Dimon,&quot; Ackman said. Dimon is currently serving as the CEO of JPMorgan Chase &amp; Co Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>).</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/03/31470443/why-regeneron-pharmaceuticals-and-sanofi-shares-are-trading-higher-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sanofi-Regeneron&#39;s Blockbuster Drug Aces Pivotal COPD Trial</a>
<ul>
<li>Sanofi SA (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/sny#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SNY</a>) and Regeneron Pharmaceuticals Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/regn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">REGN</a>) Phase 3 trial of Dupixent (dupilumab) for uncontrolled chronic obstructive pulmonary disease (COPD) met its primary and secondary endpoints.</li>
<li>Dupixent exhibited a 30% reduction in moderate or severe acute exacerbations compared to the placebo.</li>
<li>The Phase 3 trial involving 939 current or former smokers also showed improvements in lung function, quality of life, and COPD respiratory symptoms.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31469079/apple-bulks-up-autonomous-car-program-with-more-test-drivers-in-california" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Bulks Up Autonomous Car Program With More Test Drivers In California</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) has reportedly ramped up hiring drivers registered for testing autonomous driving features on public roads in California.</li>
<li>According to the California DMV, Apple has increased the number of drivers for testing its autonomous vehicles to 201 while keeping its fleet size steady at 67 as of March 17.</li>
<li>Amazon.com Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amzn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMZN</a>) Zoox presently has the most number of drivers, while General Motors (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/gm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM</a>) Cruise has the most number of vehicles with a 709 vehicle-wide fleet.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470059/instagram-reels-share-counts-could-soon-be-available-to-all-users-not-just-businesses-and-creators" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Instagram Reels Share Counts Could Soon Be Available To All Users, Not Just Businesses And Creators</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/meta#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">META</a>) seems to be working on showing Instagram Reels share counts to all users and not just business or creator accounts. </li>
<li>Some Instagram users have started spotting the platform showing share numbers on the screen alongside Likes and Comments numbers.</li>
<li>Benzinga also independently verified the same and found out that some users who own smartphones running on Alphabet Inc.&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) operating system, Android, can see the share count. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31470486/japan-airlines-orders-21-boeing-737-8-jets" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Japan Airlines Orders 21 Boeing 737-8 Jets</a>
<ul>
<li>Japan Airlines Co JAPSY has ordered 21 super-efficient Boeing Co BA 737-8 jets. Terms were not disclosed.</li>
<li>Japan Airlines seeks to strengthen its domestic and regional network as passenger traffic continues to return to pre-pandemic levels. It intends to begin introducing the airplanes into its fleet from 2026.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/03/31473253/moderna-generation-bio-collaborate-to-develop-non-viral-genetic-medicines" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Moderna, Generation Bio Collaborate To Develop Non-Viral Genetic Medicines</a>
<ul>
<li>Moderna Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) and Generation Bio Co (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gbio#NASDAQ">GBIO</a>) have collaborated to combine the application of each company&#39;s platform by developing novel nucleic acid therapeutics, including those capable of reaching immune cells, to accelerate their respective pipelines of non-viral genetic medicines.</li>
<li>Generation Bio will receive a $40 million upfront cash payment and a $36 million equity investment. </li>
<li>Moderna will fund all collaboration work, including a research pre-payment.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31471638/united-delta-agree-with-faa-to-trim-flights-to-ease-congestion-and-delays-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">United, Delta Agree With FAA To Trim Flights To Ease Congestion And Delays</a>
<ul>
<li>Federal Aviation Administration (FAA) to temporarily limit slots at John F. Kennedy International Airport (JFK), New York LaGuardia Airport (LGA), and Ronald Reagan Washington National Airport (DCA) due to post-pandemic effects on Air Traffic Controller staffing at the New York Terminal Radar Approach Control facility.</li>
<li>Delta Air Lines Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) and United Airlines Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) offered to cut flights by up to 10% under the condition that they could get them back.</li>
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Apple Jumps Movie Production Bandwagon, Billionaire Jim Ratcliffe Bids For Manchester United, Elon Musk Seeks Funding For SpaceX From Middle-Eastern Fund: Today's Top Stories

<ul>
<li>Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) has reportedly accepted an acquisition offer from a Japanese consortium.</li>
<li>The company&#39;s&nbsp;board approved a bid of $15.3 billion from a group led by private equity firm&nbsp;Japan Industrial Partners Inc., and the offer price represents a 9.6% premium to Toshiba&#39;s closing price on March 23, reported&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-03-23/toshiba-accepts-15-billion-buyout-offer-from-jip-nikkei-says?srnd=premium-asia&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg</a>.</li>
<li>The group comprises about 20 Japanese companies, including&nbsp;Orix Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ix#NYSE">IX</a>), Rohm Co, and Chubu Electric Power Co.</li>
<li>The report further noted that Toshiba&#39;s management, the Japanese government and vocal foreign shareholders of the company clashed over its future, with the investors batting for maximum returns while the government wanted to keep sensitive businesses out of foreign influence.</li>
<li>&quot;Having a resolution here would be a positive, as one of the issues for Toshiba has been a lack of a consistent strategy due to the constant changes of direction,&quot; the report cited LightStream Research analyst Mio Kato.</li>
<li>Price Action: TOSYY shares closed higher by 0.13% at $16.02 on Wednesday.</li>
<li>Photo Via Company</li>
</ul>

Toshiba Accepts $15B Acquisition Bid From JIP Group: Report

<ul>
<li>The $15 billion buyout of&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) may end up purely as a Japanese deal, as most foreign buyers may opt-out.</li>
<li>Talks to bring&nbsp;Blackstone Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>),&nbsp;BPEA EQT, and&nbsp;CVC Capital Partners&nbsp;on as equity investors have stalled, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-02-28/toshiba-15-billion-deal-leaves-global-buyout-firms-on-sidelines?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>&nbsp;citing people familiar with the matter.</li>
<li>The bidding group led by Japanese fund&nbsp;Japan Industrial Partners (JIP) Inc&nbsp;presently includes domestic firms.</li>
<li>Most recently, Japanese chipmaker&nbsp;Rohm Co Ltd&nbsp;announced its plans to join&nbsp;the Toshiba&nbsp;buyout proposal.</li>
<li>The chipmaker plans to contribute about&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29742961/chipmaker-rohm-plans-joining-jip-for-toshiba-takeover-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">&yen;300 billion</a>&nbsp;from the proposed &yen;2.2 trillion acquisition.</li>
<li>The report added that private equity investors are concerned about the deal&#39;s valuation, complexity, and political nature. The Japanese bidding consortium also wants to avoid triggering Chinese antitrust scrutiny by bringing in foreign investors.</li>
<li>The report points out the difficulty for Japanese stakeholders and overseas investors to align, especially where national security is a concern.</li>
<li>The Bloomberg report added that no final decisions had been made, and some funds could still find ways to back the deal, such as providing financing.</li>
<li>Earlier this month, Toshiba&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/content/dam/toshiba/ww/ir/corporate/news/20230209_1.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">confirmed</a>&nbsp;receiving a proposal from the JIP Consortium.</li>
<li>Toshiba deal is valued at about &yen;2 trillion, including bank financing worth about &yen;1.4 trillion. The JIP-led group has been in talks for a further &yen;1 trillion of financing from around&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">20 potential co-investors</a>.</li>
</ul>

Toshiba's $15B Buyout Deal In Trouble, Foreign Investors Might Drop

<ul>
<li>Apollo Global Management, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apo#NYSE">APO</a>) and&nbsp;Elliott Management Corp&nbsp;purchased $900 million of convertible preferred stock of&nbsp;Western Digital Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>).</li>
<li>The investment strengthens Western Digital&#39;s financial position and flexibility as it reviews strategic alternatives to&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/01/b30652198/western-digital-announces-900-million-convertible-preferred-equity-investment-led-by-apollo-manage" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">optimize long-term value for its shareholders</a>.</li>
<li>WDC appointed Apollo partner Reed Rayman to its board in connection with the investment.</li>
<li>The preferred stock&#39;s initial conversion price of $47.75 represents a 44% premium to the closing price on January 4, 2023.</li>
<li>The preferred stock will bear a cumulative and compounding dividend at a rate of 6.25% p.a. over the initial liquidation preference of $1,000.00 until the seventh anniversary of the closing. At that time, the dividend shall increase to 7.25% p.a. until the tenth anniversary of the closing, when the dividend shall increase to 8.25% p.a.</li>
<li>WDC CEO David Goeckeler said, &quot;We have tremendous respect for Apollo and Elliott. Their partnership and perspectives as experienced capital investors will help us facilitate the next stages of Western Digital&#39;s strategic review.&quot;</li>
<li>In January, WDC resumed talks with Japan&#39;s&nbsp;Kioxia Holdings Corp&nbsp;in a deal that could unite two technology storage providers.</li>
<li>The parties discussed merging into one publicly traded company.</li>
<li>Kioxia spun off from&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>), and WDC operated a joint flash memory&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/01/30292561/western-digital-japans-kioxia-holdings-resume-merger-talks-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">chip plant in central Japan&#39;s Yokkaichi</a>.</li>
<li>Price Action:&nbsp;WDC shares closed lower by 0.66% at $43.95 on Tuesday.</li>
</ul>

Apollo And Elliott Invest $900M In Western Digital; Likely To Aid In Evaluating Strategic Alternatives

<ul>
<li>Western Digital Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) resumed talks with Japan&#39;s&nbsp;Kioxia Holdings Corp&nbsp;in a deal that could unite two technology storage providers.</li>
<li>The parties discussed merging into one publicly traded company, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-01-04/western-digital-kioxia-are-said-to-revive-merger-talks?leadSource=uverify%20wall&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/12/30112210/why-is-this-analyst-bearish-on-western-digital-and-sees-downside" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Why Is This Analyst Bearish On Western Digital And Sees Downside</a></li>
<li>Kioxia spun off from&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>), and Western Digital operate a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/04/b26648473/kioxia-and-western-digital-jointly-invest-in-new-flash-memory-manufacturing-facility-in-yokkaichi-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">joint flash memory chip plant</a>&nbsp;in central Japan&#39;s Yokkaichi.</li>
<li>In June, U.S.-based memory chip firm Western Digital disclosed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27603798/western-digital-weighed-strategic-alternatives-including-business-split" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reviewing strategic alternatives, including options</a>&nbsp;for splitting off its flash-memory and hard disk drive businesses, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/western-digital-japans-kioxia-restart-merger-talks-bloomberg-news-2023-01-05/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>Talks between the two companies had stalled over valuation discrepancies and uncertainty over securing approval from the Japanese government, failing to yield what could have been a $20 billion transaction.</li>
<li>Price Action:&nbsp;WDC shares traded higher by 2.87% at $34.00 in the premarket on the last check Thursday.</li>
<li>Photo Via Wikimedia Commons</li>
</ul>

Western Digital, Japan's Kioxia Holdings Resume Merger Talks: Report

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30233369/sam-bankman-fried-founded-ftx-exchanges-assets-worth-3-5b-being-held-by-bahamian-regulators" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sam Bankman-Fried-Founded FTX Exchange&#39;s Assets Worth $3.5B Being Held By Bahamian Regulators</a>
<ul>
<li>The&nbsp;Securities Commission of the Bahamas&nbsp;is holding FTX assets worth $3.5 billion.</li>
<li>The valuation of the assets is based on the pricing at the time of the transfer temporarily to deliver them to customers and creditors.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/30234035/italy-pm-to-meet-intel-over-multibillion-euro-chip-investment" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Italy PM To Meet Intel Over Multibillion-Euro Chip Investment</a>
<ul>
<li>Italy&#39;s Prime Minister Giorgia Meloni eyed a meeting with representatives of&nbsp;Intel Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) to discuss a possible multibillion-euro investment by the U.S. chipmaker in Italy.</li>
<li>Intel aimed to build a chip factory in the country as part of a broader plan to invest up to &euro;80 billion ($85.15 billion) over the next decade in building capacity across Europe.</li>
<li>The yet-to-be-finalized deal will likely involve state subsidies.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30234631/customer-sues-hershey-alleging-certain-dark-chocolate-products-contain-heavy-metals" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Customer Sues Hershey Alleging Certain Dark Chocolate Products Contain Heavy Metals</a>
<ul>
<li>Hershey Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsy#NYSE">HSY</a>) is facing a lawsuit after being accused of selling dark chocolate containing possibly harmful levels of lead and cadmium.</li>
<li>New York resident Christopher Lazazzaro filed the suit against Hershey following a recent Consumer Reports study.&nbsp;</li>
<li>The study was conducted on 28 dark chocolate bars using California&#39;s maximum allowable dose level (MADL) for lead and cadmium: 0.5 micrograms and 4.1 micrograms, respectively.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/30234004/baidu-bags-approval-for-robotaxi-trials-in-beijing-as-rivals-retreat" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Baidu Bags Approval For Robotaxi Trials In Beijing As Rivals Retreat</a>
<ul>
<li>Baidu Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>) won the first license to test driverless vehicles on roads in Beijing.</li>
<li>Baidu will add another 200 robotaxis to its network across China in 2023.</li>
<li>Baidu, which generates most of its revenue from its internet search engine, has been focused on self-driving technologies over the past five years as it looks to diversify.</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30234901/restaurant-group-files-to-stop-implementation-minimum-fast-food-wage-law-in-california" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Restaurant Group Files To Stop Implementation of Minimum Fast-Food Wage Law In California</a>
<ul>
<li>A restaurant-industry group reportedly sued some California state officials, alleging they plan to illegally implement a new law that would set minimum hourly wages for fast-food workers.</li>
<li>The California law would set a minimum wage for the state&#39;s estimated half-million fast-food workers at as high as $22 an hour. That minimum would then increase annually based on inflation.&nbsp;</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/12/30234535/toshiba-deal-battles-uncertainty-as-preferred-bidder-fails-to-reach-agreement-with-lenders" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Deal Battles Uncertainty As Its Preferred Bidder Fail To Reach Agreement With Lenders</a>
<ul>
<li>The chances of&nbsp;Toshiba Corp&#39;s&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>) preferred bidder securing letters of commitment from banks are unlikely by year-end as disputes over lending terms persist after months of negotiations.</li>
<li>A consortium led by&nbsp;Japan Industrial Partners Inc&nbsp;explored bank financing totaling 1.4 trillion yen ($10.6 billion) to take Toshiba private. However, negotiations have stalled over covenants and collateral.</li>
<li>Japan&#39;s iconic brand, sullied by years of scandals and rising financing costs, had difficulty securing bank financing.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30235419/southwests-holiday-chaos-will-affect-q4-earnings-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Southwest&#39;s Holiday Chaos Will Affect Q4 Earnings</a>
<ul>
<li>Southwest Airlines Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) holiday flight schedule chaos will reportedly affect its fourth-quarter earnings.</li>
<li>The carrier will take many weeks to dispose of the reimbursement requests of the affected passengers.</li>
<li>The low-cost carrier has been messing with its flight operations when the holidays kicked off, stating that the winter blizzard affected its schedules.</li>
<li>The gaffe drew the transportation department&#39;s ire, with U.S. Transportation Secretary Pete Buttigieg calling the chaos a &quot;system failure.&quot;</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30233875/no-elon-musk-wasnt-margin-called-for-his-twitter-loan-why-an-earlier-report-about-it-is-false" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">No, Elon Musk Wasn&#39;t Margin-Called For His Twitter Loan &mdash; Why An Earlier Report About It Is False?</a>
<ul>
<li>Amid&nbsp;Tesla Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) precipitous stock drop, reports of it triggering a margin call on the loan availed by&nbsp;Elon Musk&nbsp;to fund the&nbsp;Twitter&nbsp;acquisition began doing the rounds. The rumors, however, have been proven to be ill-founded.</li>
<li>It all started when Barron&#39;s report said on Thursday that Musk was margin called for his Twitter loan, and the news quickly spread around. In response to the story, Tesla bull and&nbsp;Future Fund&#39;s&nbsp;Gary Black&nbsp;tweeted that Musk had never taken a margin loan when he bought Twitter.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30234649/indias-5g-smartphone-shipments-likely-to-beat-4g-counterpoint" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">India&#39;s 5G Smartphone Shipments Likely To Beat 4G</a>
<ul>
<li>According to&nbsp;Counterpoint&#39;s&nbsp;India Market Outlook, cumulative 5G smartphone shipments will cross the 100-million mark in Q2 2023 and exceed 4G shipments by the end of 2023.&nbsp;</li>
<li>The study found that 5G has been a driving force and will continue to push smartphone demand in 2023.&nbsp;</li>
<li>India&#39;s smartphone shipments will likely witness a yearly decline in 2022 due to macroeconomic factors affecting consumer demand in the entry and budget segments.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/12/30235437/new-oral-covid-19-antiviral-might-be-better-than-pfizers-paxlovid-with-faster-recovery-fewer-side" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Data Shows New Oral COVID-19 Antiviral Might Be Better Than Pfizer&#39;s Paxlovid With Faster Recovery, Fewer Side Effects</a>
<ul>
<li>A study in China shows that a remdesivir analog, dubbed VV116, is as effective as&nbsp;Pfizer Inc&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) oral COVID-19 pill.</li>
<li>Gilead Sciences Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gild#NASDAQ">GILD</a>) Veklury (remdesivir) is approved as a treatment for severe COVID-19.&nbsp;</li>
<li>The Phase 3 results, published in The New England Journal of Medicine, exhibit that the treatment had fewer side effects than Paxlovid.</li>
<li>67.4% of people who took VV116 reported side effects, compared to 77.3% who took Paxlovid.</li>
<li>Photo: Rick Partington by Shutterstock an Wikimedia Commons</li>
</ul>

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FTX Exchange's Assets Worth $3.5B Held By Bahamian Regulators, Italy PM To Meet Intel Over Chip Investment, New Oral COVID Antiviral Might Be Better Than Pfizer's Paxlovid: Today's Top Stories

<ul>
<li>The chances of&nbsp;Toshiba Corp&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) preferred bidder securing letters of commitment from banks are unlikely by year-end as disputes over lending terms persist after months of negotiations.</li>
<li>A consortium led by&nbsp;Japan Industrial Partners Inc&nbsp;explored bank financing totaling &yen;1.4 trillion ($10.6 billion)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29232360/toshiba-picked-japan-industrial-partners-led-group-as-preferred-bidder" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">to take Toshiba private</a>. However, negotiations have stalled over covenants and collateral, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-12-30/toshiba-deal-faces-more-uncertainty-as-financing-talks-stall?srnd=technology-vp" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.</li>
<li>JIP has also requested additional subordinated loans and other forms of mezzanine capital, with talks still ongoing.</li>
<li>Banks, including&nbsp;Sumitomo Mitsui Banking Corp, had expected to sign off by end-December on &yen;1.2 trillion in syndicated loans to help finance the buyout deal and another &yen;200 billion to cover operational costs. No financing commitment is now possible until the new year.</li>
<li>The buyout deal will likely be worth &yen;2.2 trillion. JIP plans to decide on an offer price once it secures commitment letters.&nbsp;</li>
<li>Toshiba may hold a special committee meeting in mid-January to discuss JIP&#39;s offer.</li>
<li>Japan&#39;s iconic brand, sullied by years of scandals and rising financing costs, had difficulty securing bank financing.</li>
<li>The lenders may ask Toshiba to nominate one or more directors to its board.</li>
<li>JIP secured another &yen;1 trillion of financing from 20 potential&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">co-investors to back its offer</a>. The co-investors included Japanese&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29742961/chipmaker-rohm-plans-joining-jip-for-toshiba-takeover-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">companies like</a>&nbsp;Rohm Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rohcy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ROHCY</a>) and financial services firm&nbsp;Orix Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IX</a>).</li>
<li>Price Action:&nbsp;TOSYY shares traded at $17.52 in the premarket on the last check Friday.</li>
</ul>

ROHCY

Toshiba Deal Battles Uncertainty As Preferred Bidder Fails To Reach Agreement With Lenders

<ul>
<li>Japanese chipmaker Rohm Co Ltd is planning to join&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) buyout proposal.</li>
<li>Rohm will join a consortium led by private equity fund Japan Industrial Partners (JIP), which is currently chalking out a proposal.</li>
<li>The chipmaker is planning to contribute about &yen;300 billion out of the proposed &yen;2.2 trillion acquisition,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/japans-rohm-suzuki-motor-join-toshiba-buyout-bid-nikkei-2022-11-16/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters</a>&nbsp;reported.</li>
<li>The JIP, is reportedly<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/11/29565704/toshiba-buyouts-japan-industrial-partners-led-bidder-for-may-miss-deadline-to-secure-financing" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;seeking about &yen;1.4 trillion from banks&nbsp;</a>and is also urging companies, including Chubu Electric Power Co Inc and Orix Corp, to join the bid.</li>
<li>JIP&rsquo;s rival group&nbsp;Japan Investment Corp&nbsp;(JIC), meanwhile has received approval to increase the fund side to &yen;900 billion from &yen;200 billion.</li>
<li>Rohm and Toshiba manufacture power management chips for electric cars, electronic devices, and industrial equipment.</li>
<li>Price Action:&nbsp;TOSYY shares closed higher by 0.38% at $17.31 on Tuesday.</li>
<li>Photo Via Wikimedia Commons</li>
</ul>


Daniel GoldmanHouse (D-NY)	$1K - $15K	stock	Sale	Mar 20, 2023	Feb 27, 2023	House
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