Financial daily dose 16.16.2021 | Headlines: Intel in talks to acquire chipmaker GlobalFoundries for $ 30 billion | Robins Kaplan LLP


Chipmaker Intel is in late-stage talks to buy rival GlobalFoundries for around $ 30 billion. If completed, the acquisition would be Intel’s largest and would help the company enter overseas markets. If deal fails, GlobalFoundries would consider going public through an IPO – WSJ

More information on Fed Chairman Powell’s trip to the Hill, this time to the Senate Banking Committee – NY Times and WSJ and Bloomberg

Across the pond, the burgeoning Delta variant darkens Europe’s economic recovery, with countries navigating the rough waters of long-awaited reopenings, renewed restrictions and extended periods of self-sufficiency. isolation of workers and consumers – NY Times

A perfect storm of computer chip shortages, a strong economy, and pent-up demand means the auto market is crazy right now – with “dealers and individuals struggling to get their hands on vehicles” and car prices. used cars “up about 45% from a year ago.” In other words, those looking for another reason to worry about inflation have found it in the auto industry – NY Times and WSJ

New figures released yesterday showed that the first jobless claims in the United States fell to 360,000 last week, their lowest level in the pandemic. The steady decline is another sign that the US economy continues to rebound, although jobless claims are still orders of magnitude higher than in the US before the pandemic – WSJ

India has banned Mastercard from adding new customers to its country “over allegations it violated the country’s data storage laws, a blow to the company in a market it was investing heavily in for its expansion ”. The ban takes effect next week and stems from MC’s alleged breach of a 2018 data-tracking ordinance – NY Times

Pfizer and a class of EpiPen consumers have reached a sweeping $ 345 million settlement to resolve claims that the class “overpaid for EpiPen due to anti-competitive practices by pharmaceutical companies.” If accepted, the settlement would avoid the need for a jury trial on the case currently scheduled for early 2022 – Law360

The United States’ shift in recent months towards increased enforcement of antitrust laws puts it back in alignment with European Union competition authorities and could signify a new era of greater cooperation between economic powers that could have a ” significant impact ”on many of the larger companies – WSJ

The FAA requires all carriers to “inspect a pair of cabin air pressure switches on all Boeing 737 planes, citing safety concerns. Failure of the switch could result in “dangerously low” oxygen levels in the cabins, and although this calamity has not yet occurred, fear of its possibility prompted the “Airworthiness Directive” – NY Times

Learn more about what Netflix’s large EA / Facebook rental means for its nascent video game streaming expansion strategy – WSJ and Bloomberg

It’s Friday. I think you won a little something sweet for after dinner. Why not toss and swirl this glazed banana and chocolate dynamite cake – NY Times

Stay safe, get vaxxed and have a wonderful weekend,

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