BUSINESS
SoftBank has shelved its blockbuster sale of Arm to U.S. chipmaker Nvidia valued at up to $80 billion citing regulatory hurdles and will instead seek to list the company. The Japanese conglomerate acquired Arm, whose technology powers Apple’s iPhone and nearly all other smartphones, in 2016 for $32 billion.
BP’s profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with increased spending on low carbon energy.
Reverends, rabbis and other religious leaders urged Meta Chief Executive Officer Mark Zuckerberg to permanently stop the company’s plan for an Instagram version aimed at young users, in a letter sent by advocacy group Fairplay and their Children’s Screen Time Action Network. Meanwhile, TikTok is working on ways to rate and restrict content by age in order to prevent adult content from reaching teenage users of its short video app.
When Japan handed Tokyo bus driver Keiki Nambu and his wife, Takako, $870 for each of their nine children, they spent it exactly as the government had feared: paying down a mortgage instead of going shopping. That kind of financial prudence represents a headache for policymakers, who are struggling to kick-start consumption and boost a moribund economy.
As bitcoin drifts towards mainstream maturity in 2022, daring crypto investors are eyeing up new sources of explosive action: “altcoins” that power online games and worlds. But, be warned, the foothills of the unformed metaverse are no place for the faint-hearted.
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