Apple Loses Appeal Over 4G Patent Infringement In London Court, AI Can Drive TSMC's Revenue Rebound, Alibaba Conducts Strategic Review of Youku and Tudou Amidst Rivalry: Today's Top Stories

Reuters

Apple Loses Appeal Over 4G Patent Infringement in London Court, Optis Scores Another Victory

• Apple Inc AAPL overstepped two telecommunications patents used in devices, including iPhones and iPads, London's Court of Appeal ruled on Tuesday, dismissing the iPhonemaker's appeal in a long-running dispute.
• Optis Cellular Technology LLC prosecuted Apple in 2019 over its use of patents, which Optis says are critical to specific technological standards, like 4G.
• The legal battle between Apple and Optis began in 2019, prompting six separate trials and several appellate hearings in Britain alone.

Deutsche Bank, Commerzbank Slammed With $348M Suit By Russian Gas Giant Subsidiary

• Deutsche Bank AG DB and Commerzbank AG CRZBF CRZBY are slammed by a lawsuit worth ₽31 billion ($348 million) by RusKhimAlyans, a Russian gas giant Gazprom's subsidiary. 
• In particular, RusKhimAlyans is asking for over ₽22 billion from Deutsche Bank and over ₽8 billion from Commerzbank, Reuters reported citing documents filed at the Court of Arbitration of St Petersburg and the Leningrad Region.

Nikola Seeks To Liquidate Battery Maker Romeo Power

• Nikola Corp NKLA stock is trading lower Wednesday after reports indicated its plans to liquidate the assets of battery maker Romeo Power less than a year after buying it.
• The electric truck maker struggled to satisfy investors amid overblown costs of commodities and tight access to capital since 2022.

Pfizer and South Korea's Samsung Biologics Ink $900M Partnership for Biosimilar Production: Details

• South Korean contract development and manufacturing organization Samsung Biologics and Pfizer Inc PFE have signed two agreements for the long-term manufacturing of Pfizer's multiproduct biosimilar portfolio, worth $897 million.
• The two deals include a $193 million deal and a $704 million deal - Samsung Biologics' most significant single contract since its inception in 2011. 
• Including a $183 million deal signed in March, the combined value of Samsung Biologics-Pfizer deals this year amounts to $1.08 billion.

 

Benzinga

Airbus Opens New Technology Hub At Filton Site To Design Wings For Next Generation Aircrafts

• Airbus SE EADSY EADSF is investing further in its U.K. innovation capabilities, with the opening of a new Wing Technology Development Centre (WTDC) at its Filton site in southwest England.
• The new facility will help Airbus accelerate the design of wings for next-generation aircraft. Nusrat Ghani, U.K. Minister of State at the Department for Business and Trade, opened the facility. 
• Alongside engine optimization, making wings longer, leaner and lighter is one of the most significant opportunities to improve fuel efficiency.

What Can Drive TSMC's Revenue Rebound? Strong Demand for AI Chips from Nvidia, Broadcom, AMD

• Taiwan Semiconductor Manufacturing Company Ltd TSM expects a significant revenue rebound in the year's second half.
• The launch of new Apple Inc AAPL iPhones and strong demand for AI chips from Nvidia Corp NVDA, Broadcom Inc AVGO, and Advanced Micro Devices, Inc AMD, with robust wafer-start momentum is likely to trigger the rebound.
• Companies like TSMC had a challenging start during 2023 due to supply chain disruptions, weak demand further intensified by U.S. sanctions on Chinese industries, and the Russian-Ukraine conflict. 

Rivian Automotive Reported Q2 Production, Delivery Numbers

• Rivian Automotive Inc RIVN said it produced 13,992 vehicles in the second quarter, up from 9,395 in the first quarter. The company reported second-quarter deliveries of 12,640 vehicles, up from 7,946 in the first quarter. Rivian's production and delivery numbers were in line with company expectations. 
• Rivian said it believes it's still on track to meet its previously provided annual production guidance of 50,000 vehicles.

Evotec Secures US Government Contract For Orthopoxvirus Antibody

• The U.S. Department of Defense (DOD) has awarded Evotec SE's EVOTF EVO Seattle-based subsidiary, Just - Evotec Biologics Inc a contract valued up to $74 million for the rapid development of monoclonal antibody (mAb)-based drug product prototypes targeting orthopoxviruses.
• Under the contract, Just - Evotec Biologics will develop drug product prototype(s) from discovery through the execution of Phase 1 first-in-human trials.

Mondelēz Recalls Two Varieties Of belVita Biscuits In US Over Peanut Contamination

• Mondelez International Inc MDLZ Mondelēz Global LLC has voluntarily recalled two varieties of belVita Breakfast Sandwich products produced in the U.S. and sold nationwide.
• The move to recall is due to the possibility of the products containing undeclared peanuts resulting from cross-contact on a single manufacturing line which came to light on an internal manufacturing inspection.
• No other belVita products, Mondelēz Global LLC products, or markets outside the United States are included in or affected by the recall.

Warren Buffett-Backed BYD Plans To Invest $620M In Brazil's Camaçari Industrial Complex

• Warren Buffett-backed Chinese EV giant BYD Co BYDDY BYDDF plans to start operations in three factories simultaneously in the Bahis's Camaçari industrial complex, 50 km from Salvador in Brazil.
• With an investment of over 3 billion reais (~$620 million), the development will generate more than 5,000 jobs for years. 
• The three factories are scheduled to start operations in the second half of 2024.

 

Bloomberg

Alibaba Conducts Strategic Review of Youku and Tudou Amidst Rivalry with Baidu and Tencent

• Alibaba Group Holding Limited BABA weighed options for its video entertainment assets. The company is conducting a strategic review of video streaming platforms Youku and Tudou. 
• It also evaluates options to inject the assets into Alibaba Pictures Group Ltd and bolster its scope. 
• Alibaba eyes a family of standalone leaders in businesses from e-commerce and media to cloud and logistics. 

UPS Drivers Consider Going On Strike, After Failed Labor Talks

• United Parcel Service Inc UPS workers are reportedly heading towards a strike, as no agreement could be reached between the company and Teamsters.
• A potential strike by more than 300,000 UPS drivers threatens to disrupt the U.S. supply chain. 
• Weeks-long talks between UPS and the Teamsters fell apart early Wednesday morning in Washington after stretching through the July 4 holiday, with beleaguered negotiators emerging to say the talks had collapsed.

OMV-ADNOC In Talks To Create Over $30B Chemicals & Plastics Firm

• Austria's OMV AG OMVKY OMVJF is in talks with Abu Dhabi National Oil Co. (ADNOC) to combine the companies, Borouge Plc and Borealis AG, to form a chemicals and plastics company worth over $30 billion.
• The firms are discussing the potential valuation and ownership structure of a combined entity and may reach the formal merger terms in the coming weeks.
• OMV owns 75% of Borealis is 75%, while ADNOC holds the remaining.

Haleon Contemplates Sale of Non-Core Businesses, Including Nicotinell Brand: A Strategy Shift Towards Core Products

• Haleon Plc HLN, a consumer health company, is reportedly considering divesting some smoking cessation products to sell non-core businesses.
• The company is working with an adviser to find potential buyers for the Nicotinell brand, which includes nicotine gum, patches, and lozenges.
• The sale of the Nicotinell brand, which is drawing interest from investment firms and consumer companies, could be valued as high as $800 million.

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