September 14, 2020 Biz in 60

Nvidia to buy chip designer Arm from SoftBank for…

An episode of the Business in 60 Seconds podcast, hosted by TRT World, titled "September 14, 2020 Biz in 60" was published on September 14, 2020 and runs 1 minutes.

September 14, 2020 ·1m · Business in 60 Seconds

Summary

Nvidia to buy chip designer Arm from SoftBank for $40B US chipmaker, Nvidia, has agreed to buy the British chip designer, Arm Holdings, from SoftBank in a deal worth up to 40-billion- dollars. The sale is part of the Japanese conglomerate's shift towards becoming a global investment and asset management powerhouse. SoftBank paid 32-billion- dollars for Arm Holdings back in 2016. Gilead Sciences to acquire Immunomedics for $21B US drug-maker Gilead Sciences will buy biotech company, Immuno- medics, for 21-billion- dollars. The acquisition will bolster Gilead's portfolio of cancer treatments by gaining access to its prized breast-cancer drug, Trodel-vy. Gilead says it will pay Immuno- medics 88-dollars per share, representing a premium of about 108-percent to their closing price on Friday. Turkey's industrial production rose 8.4% in July Turkey's industrial output rose 8-point-4 percent in July, as factories ramped-up production after coronavirus lockdowns. Manufacturing activity recorded the highest rise, jumping 8-point-6 percent month-on-month, followed by the mining and quarrying sector. Meanwhile, retail sales jumped 9-and- a-half percent from a month ago, driven by a surge in online and mail-order sales.

Episode Description