Global Glance: Intel buys car tech company for $14B; Saudi King visits Japan

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

Intel buying car tech company Mobileye in $14B deal

SANTA CLARA, Calif. (AP) — Intel is buying Mobileye in a deal valued at about $14.09 billion, the latest push by a major tech company into autonomous vehicles that could change the way traffic moves globally. Intel Corp. will pay $63.54 for each Mobileye N.V. share, which is a 34 percent premium to the car technology company’s Friday closing price. The combined global autonomous driving company, which includes Mobileye and Intel’s autonomous driving group, will be based in Israel and led by Mobileye Chairman and co-founder Amnon Shashua. Read more


Saudi King visits Japan, seeks help on diversifying economy

TOKYO (AP) — King Salman and hundreds of business leaders from Saudi Arabia are in Japan for talks Monday mainly expected to focus on economic ties. The visit is the first by a Saudi king in 46 years, though Salman visited more recently as crown prince. The kingdom is striving to diversify its economy away from its heavy reliance on oil exports, and Salman is on a month-long tour of Asia to advance his kingdom’s economic and business interests. Read more


Republicans brace for downbeat CBO analysis of health bill

WASHINGTON (AP) — Republicans pushing a plan to dismantle Barack Obama’s health care law are bracing for a Congressional Budget Office analysis widely expected to conclude that fewer Americans will have health coverage under the proposal, despite President Donald Trump’s promise of “insurance for everybody.” House Speaker Paul Ryan said he fully expects the CBO analysis, set to be released as early as Monday, to find less coverage since the GOP plan eliminates the government requirement to be insured. Read more


Google’s self-driving car company escalates battle with Uber

SAN FRANCISCO (AP) — A self-driving car company founded by Google is presenting new evidence to support allegations that a former manager stole technology sold to Uber to help the ride-hailing service build its own robot-powered vehicles. Waymo, a project hatched by Google eight years ago, wove its tale of deceit in sworn statements filed Friday in a San Francisco federal court. The documents try to make a case that former Waymo manager Anthony Levandowski conceived a scheme to heist key trade secrets before leaving the company early last year to launch an autonomous vehicle startup that he had been discussing with Uber. Read more


Merkel and Trump: Opposing styles with common interests

BERLIN (AP) — German Chancellor Angela Merkel heads to Washington on Monday ahead of her first meeting with President Donald Trump. The encounter between the trained physicist and veteran politician, renowned for her measured comments and reserved style, and the billionaire real-estate outsider whose off-the-cuff tweets and undiplomatic approach have rocked American politics could produce an interesting dynamic. But despite the difference in styles, hopes are high that Europe’s most powerful leader will be able to use her savvy and experience to dispel some of the angst that has grown internationally over the first weeks of Trump’s administration. Read more


In 1st budget, Trump to push conservative view of government

WASHINGTON (AP) — President Donald Trump sends Congress a proposed budget this week that will sharply test Republicans’ ability to keep long-standing promises to bolster the military, making politically painful cuts to a lengthy list of popular domestic programs. The Republican president will ask his adopted political party, which runs Capitol Hill, to cut domestic agencies such as the Environmental Protection Agency and the departments of Education and Housing and Urban Development, along with grants to state and local governments and community development projects. The spending plan, set for release Thursday, would make the Pentagon the big winner with a $54 billion boost to defense spending. Read more


Tags:

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students