Abu Dhabi investment group Mubadala is sole owner of the 500 million shares in wafer supplier GlobalFoundries, said an F-1 registration statement Monday at the SEC for an initial public offering. GF is an “exempted” company in the Cayman Islands where it's incorporated, and that means it isn't required to hold annual meetings, said the filing. Mubadala CEO Ahmed Yahia Al Idrissi is GF’s chairman. The company applied to list its shares on the Nasdaq under the symbol GFS.
Holding China accountable for its commitments under the January 2020 phase one trade deal (see 2001160022) will be the “starting point” of “realigning” U.S. trade policies toward China, U.S. Trade Representative Katherine Tai told a Center for Strategic and International Studies conference Monday. “We will discuss with China its performance” under the phase one deal, she said. Her prepared remarks and the Q&A that followed were peppered with strong talk toward Beijing.
A year ago, Amazon kicked off an early holiday season with an October Prime Day sales event that was pushed from its usual summer slot due to inventory constraints caused by an uptick in online ordering during COVID-19 lockdowns. This year, amid a challenged supply chain, Amazon is prodding customers to “shop early and save big,” announcing Monday “Black Friday-worthy deals available today.”
The government stands by its arguments that the Lists 3 and 4A Section 301 tariffs on Chinese goods are “presidential actions” that are “unreviewable” by the court, said DOJ in a Friday filing at the U.S. Court of International Trade in docket 1:21-cv-52.
Congress should investigate Facebook, subpoena its internal research about youths and block the platform’s plans to launch an Instagram for kids, consumer advocates told us Friday. They joined calls from Democrats and Republicans urging Facebook to drop those plans.
China was the unmentioned presence lurking among participants in the inaugural meeting Wednesday in Pittsburgh of the U.S.-EU Trade and Technology Council (see 2109290006), agreed panelists on a Center for Strategic and International Studies webinar Friday to discuss key takeaways. They agreed the meeting was a moderate success for setting in motion 10 working groups to address specific tasks before the TTC meets again in the spring.
Walmart defends its record on labor relations and is willing to engage with critics who give the company bad marks, Kathleen McLaughlin, executive vice president-chief sustainability officer, told an environmental, social and corporate governance webinar Thursday on the retailer's “human capital.” Walmart produced the webinar as what it said was the first in a series on ESG issues.
NAB's November FCC petition for clarification of ATSC 3.0 multicast rules is seen as making slow progress (see 2105280035), broadcast industry officials told us. A workaround developed by broadcasters and the Media Bureau requires some 3.0 stations to request special temporary authority every six months, and the bureau has granted 34 STA requests, said Media Bureau Legal Adviser Evan Morris on a Federal Communications Bar Association webinar Tuesday.
Global digital technology rules should be compatible, not identical, speakers said at a Thursday Politico virtual event. There's discussion about the new Trade & Technical Council (TTC) (see 2109290006) because, in an interconnected world, what's relevant in one country becomes relevant in others, said former FCC Chairman Tom Wheeler, now Brookings Institution visiting fellow and Harvard Kennedy School senior fellow: The TTC effort must be to agree on consistent rules.
“If you want to stop ransomware, you need Guardicore,” said Akamai CEO Tom Leighton on an investor call Wednesday, explaining the company’s rationale for buying the privately held “micro-segmentation” cybersecurity solutions provider. Akamai will pay $600 million cash from its existing reserves for 100% of Guardicore stock, said Akamai Chief Financial Officer Ed McGowan. The transaction is expected to close in Q4.