Japan’s SoftBank Group said Monday it is selling British chip designer Arm to United States chip company NVIDIA for up to US$40 billion, potentially creating a new giant in the industry.”We reached a final agreement with… NVIDIA to sell all shares in Arm… at the value of up to 40 billion dollars (about 4.2 trillion yen),” SoftBank said in a Japanese statement.The deal is subject to approval by authorities in several jurisdictions, including Britain, China, the United States and European Union, the statement added. If approved, it will be one of the biggest merger-acquisitions in the world this year and promises to propel NVIDIA to the forefront of the semiconductor sector.Founded in 1990 in the United Kingdom, Arm specialises in microprocessors, and dominates the global smartphone market. But its chips are also found in countless sensors, smart devices and cloud services.NVIDIA, well known for graphics cards that are favoured in the video game industry, has seen sales skyrocket during the coronavirus crisis, with gaming a popular past-time in lockdown.Its products are also increasingly used for artificial intelligence and in data centres. SoftBank bought Arm in 2016 for $32 billion in a deal that left investors cold and saw the conglomerate’s stock plunge sharply.Analysts at the time said SoftBank had paid too much for the firm and the purchase revived concerns about the Japanese company’s balance sheet.NVIDIA said in a statement that under the deal it will pay SoftBank $21.5 billion in common stock and $12 billion in case, $2 billion of which will be payable at signing.SoftBank may receive up to another $5 billion in cash or stock, dependent on Arm’s performance.And NVIDIA will also issue $1.5 billion in equity to Arm employees, for a deal worth a total of up to $40 billion.SoftBank said it felt Arm would perform better in combination with NVIDIA and the sale would “contribute to an increase in our company’s value for shareholders”. It said the deal would give it a combined total of 6.7-8.1 percent in NVIDIA’s outstanding shares, but insisted that would not make the US firm a subsidiary or affiliate.Topics :
Maurizio Sarri says Chelsea’s Europa League win is also for Napoli’s supporters (EPA)Maurizio Sarri has dedicated Chelsea’s Europa League final victory to Napoli fans following the 4-1 victory over Arsenal in Baku.Sarri has won the first major trophy of his career as his Chelsea side hammered Unai Emery’s men on Wednesday evening.After a goalless first half, Olivier Giroud opened the scoring with an excellent header, while Pedro doubled Chelsea’s lead before Eden Hazard added a third from the penalty spot.Alex Iwobi scored a fine long-range effort to hand Arsenal a lifeline but the Gunners’ hopes were extinguished as Hazard netted his second of the game just three minutes later to complete Chelsea’s 4-1 win.AdvertisementAdvertisementADVERTISEMENTBut speaking after the final whistle, Sarri was keen to pay tribute to his former club after leaving them last summer to join Stamford Bridge.‘I am pleased that Napoli congratulated me, I had no doubts it would happen,’ Sarri told Sky Sport Italia. Comment Chelsea beat Arsenal 4-1 in Baku to lift the trophy (Getty Images)‘The Neapolitans know how much love I have for them and that last year I went abroad to avoid going straight to another Italian club.‘They will always have my love and respect. The profession means at times we might have to take different paths, but that will never change my history or my respect for them. Sarri has won the first major trophy of his career (AP Photo)More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘I dedicate this firstly to the Napoli fans, because this is the satisfaction I was unable to give them last year.‘I also dedicate it to those lads in the Chelsea squad who couldn’t play tonight because of injuries.‘I think it’s only right for all of us to have a special thought for them.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Metro Sport ReporterWednesday 29 May 2019 11:45 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link85Shares Advertisement Maurizio Sarri dedicates Europa League win to Napoli fans after Chelsea beat Arsenal Advertisement
The Trans Adriatic Pipeline (TAP) has achieved 50% completion mark, nearly 16 months after the start of the construction. This includes all engineering, procurement and construction scope, TAP informed.TAP’s contractors have cleared around 70% of the project route in Greece and Albania, approximately 539km out of 765km.Approximately 95% of the total 55,000 pipes to be used for the construction of the pipeline have been received in Greece, Albania and Italy. The last shipment of offshore line pipes has been offloaded in Brindisi, Italy, between September 3 and 6, 2017, the company noted.TAP managing director Luca Schieppati said: “We are pleased that TAP continues to progress on time and on budget. We therefore remain on track to deliver the first Shah Deniz II gas in 2020, bringing a much-needed new source of energy into the European energy network.“I want to underline that our project is built with the utmost care for the environment. Our teams are working very carefully along our route to ensure that the land on which construction has been completed is returned to the owners or users in its original condition or better. We are also collaborating with local authorities and local stakeholders to ensure that the benefits of our project are tangible across all those communities crossed by the pipeline.”
Lower depreciation expenses and vessel impairments during 2018 led Singapore-based shipowner First Ship Lease Trust to end the year in loss.The company managed to shrink the net loss on an annual basis,and in 2018 reported USD 18.9 million net loss, a cut of 74.3% compared to a net loss of USD 73.8 million seen a year earlier.In the fourth quarter of 2018, FSL’s net loss stood at USD 18.5 million, against a net loss of USD 33.8 million reported in the same period in 2017.Impairment charges for the quarter, and the full year, were at USD 20.6 million.FSL generated revenue of USD 18.5 million for the fourth quarter of 2018 and USD 67 million for the full year, a 6.8% and 17.7% decline compared to the same period a year ago, respectively.The company said the lower revenue for both the fourth quarter and full year was the result of a reduced fleet following the disposal of a chemical tanker in early 2018, and the disposal of two feeder containerships in late 2017 reducing the fleet size to 19.In addition to a reduced fleet, the company said the revenues were impacted by the ongoing market volatility and continued softening of rates across all shipping sectors, which has weighed on FSL’s earnings.“Having successfully completed a much needed refinancing in the summer of 2018, FSL’s balance sheet was strengthened and the viability of the business was protected. Profit before impairments during FY18 was USD 1.6 million,” Stathis Topouzoglou, Chairman of the Trust, said.First Ship Lease Trust owns a fleet of 19 vessels, comprising three containerships, twelve product tankers, two chemical tankers and two crude oil tankers.
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Share Share The recipient of America’s first full face transplant has hailed his newly regained sense of smell as one of the top benefits of the surgery.Dallas Wiens, whose face was burnt off after his head hit a power line in 2008, appeared in public for the first time since the surgery on Monday.He said he looked forward to hugging his daughter and hoped to return to university following his recovery.“I’m only 26 years old,” he said, “and there’s a lot of life left to live.”‘Without a face’At Brigham and Women’s Hospital in Boston, Mr Wiens’ doctors said he had yet to recover full nerve and muscle function but said they were confident he would improve.“He was quite literally a man without a face,” Dr Bohdan Pomahac said.Dr Jeffrey Janis said the 15-hour transplant “represents a new frontier in reconstructive surgery”.Mr Wiens has undergone about two dozen operations since the 2008 accident, which occurred while he was painting a church.The transplant procedure was funded by the US military, which hopes the findings will help it treat soldiers with severe facial wounds.“The face feels natural,” Mr Wiens said on Monday in slightly muddled but intelligible speech. “It feels as if it’s become my own.”Doctors were unable to restore Mr Wiens’ eyesight and he appeared at a table wearing large black sunglasses.But Mr Wiens said the recovery of his sense of smell and the ability to breathe through his nose had been the best parts of the recovery.He told reporters the first thing he was able to smell after the surgery was hospital lasagne, saying: “You wouldn’t have imagined it would smell so delicious.”He added that the reality that he had recovered his sense of smell struck him when a nurse brought a hibiscus flower into his room.“The smell of life – plant life again – and to know that I could smell a rose or anything like that again, it really hit home for me,” he said.‘In God’s hands’Mr Wiens said no words could describe the gratitude he felt toward the family of the anonymous donor, and credited his faith with giving him the courage to undergo the surgery.“Even though I’m in amazing hands here, I’m also in God’s hands, and that alone has been a vast help to me,” he said.He said the first thing he would do upon returning home to Texas would be to hold his daughter.Asked to describe his goals, he said: “just to be the best father that I can be and to provide for my daughter in the best way possible, as well as to finish my own education.”BBC News Tweet 32 Views no discussions Share Sharing is caring! HealthLifestyle Face transplant: Dallas Wiens hails regained smell by: – May 9, 2011
The Orange Democratic Movement has dismissed an alleged secret 2022 pact between its party leader Raila Odinga and his Wiper counterpart Kalonzo Musyoka. In a statement, ODM Secretary General Edwin Sifuna said no such deal existed but revealed that Musyoka had been trying to push Odinga to commit to supporting him in 2022 as part of the National Super Alliance pact.Also Read Noordin Haji reorganizes ODPP in renewed war on graftHowever, ODM has rejected that demand. Sifuna reiterated that NASA died after Musyoka alongside ANC leader Musalia Mudavadi and his Ford Kenya counterpart Moses Wetangula skipped the mock swearing-in ceremony of the coalition’s presidential candidate at Uhuru park.Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 20153 He alleged that for a whole year after the 2017 elections, ODM single-handedly financed the NASA Secretariat including paying of staff salaries.Also Read KUPPET calls on parents to prepare for early reopeningHe said Wiper, ANC, and Ford-Kenya refused to submit the 10,000 shillings monthly contribution from their elected leaders.Also Read 2/3rd gender headache: Maraga calls for dissolution of ParliamentSifuna was responding to claims by the Wiper party leader in an interview published in a local daily that he had signed an agreement with Odinga regarding the next General Election.
“I rate the current Spurs team very highly. “I think we’ve got a young and ambitious manager who’s great and is going to do well for the club. “I think we’ve got a great group of players at a good age where they’re improving all the time and reaching their peak.” A top-four finish, and ultimately Champions League qualification, remains the target for Villas-Boas this season although back-to-back league defeats have dented a push for second place. King feels reaching Europe’s elite club competition has to remain the club’s bread and butter for the coming years after last turning out in the Champions League under Harry Redknapp in the 2010/11 campaign. “Hopefully this season we will finish in the Champions League places and then keep doing that,” King added. “It’s a big club and you’ve got to make sure it’s not just a one-off, you’ve got to keep doing it. Press Association Former Tottenham defender Ledley King believes the club can challenge for the Barclays Premier League title within the next two years. King was forced to retire at the end of last season due to a persistent knee problem and has since taken on an ambassadorial role at the club. The 32-year-old, the recipient of 21 England caps, won the League Cup during his time at White Hart Lane but reckons Andre Villas-Boas’ current crop can develop into title-winners. “The way the team are progressing at the minute, hopefully in the next year or two they will be really challenging for the Premier League.” King told the BBC.
Flemenstar’s race-fitness counted against him on his Navan comeback as he was no match for Felix Yonger in the Grade Two Webster Cup Chase. “The Ryanair at Fairyhouse will probably come a bit soon and we may look at Punchestown, although if there is something in between where he didn’t have to take on the top novices we’d look at that.” All You Need (11-8 favourite) has kept better company than that she faced in the Irish Stallion Farms EBF Mares Maiden Hurdle and she successfully put a Leopardstown mishap behind her with a comprehensive victory. Trainer Alan Fleming said: “We thought she was way better than she was but a few of ours were under the weather. She’s getting a bit stronger now and we’ll definitely have to run her somewhere. Fairyhouse might come a bit soon and we’ll maybe find something in Punchestown for her.” That initiated a brace for young jockey David Mullins, who was determined in booting Bog War (5-2 favourite) home in the Follow Navan On Twitter Handicap Hurdle. Sizing Titanium was another to justify strong support in the Annual Family Day 17th May (C&G) Maiden Hurdle. Backed down to 8-11, the Jim Dreaper-trained gelding was pushed to the front before two out and kept going to see off The Tractor Man by a length and three-quarters. Dreaper said: “That will probably be it for the season. I know it’s a bit of a cliche but he’s a chaser in the making. He’s won a point-to-point so he should jump all right, and we can look forward to next winter.” Paul Flynn’s 5-2 favourite Boher Call put in a gutsy performance to take the Follow Navan On Facebook Handicap Chase, leading all the way under Mark Enright and going clear approaching the last before holding Derrychrin’s late charge by a head. Felix Yonger, trained by Willie Mullins and ridden by Ruby Walsh, made a bit of a hash of the final fence, but the 11-10 favourite still had three and three-quarters of a length in hand of Argocat at the line. Martin said of Flemenstar: “He jumped great and it was only from the second-last that he got very tired. He gave him (Donoghue) a great ride until two out and hopefully he’s all right in the morning.” Felix Yonger could now run at the Punchestown Festival. Mullins said: “I was very happy to see him going on that ground. It was very sticky, heavy ground and I didn’t think he’d go on it. The fact that he’s won over two and a half miles on that means we could open up in trip more on better ground. “I’m not sure where he’ll go next but he’ll get an entry for the Champion Chase at Punchestown. He’s improving.” The result completed a double for the Mullins-Walsh team after Jarry D’Honneur boosted his confidence with a clear-cut triumph in the navanracecourse.ie Novice Chase. Beaten when getting rid of Tony McCoy in a Grade One at Leopardstown, the 30-100 favourite jumped satisfactorily in the main and didn’t have to break too much of a sweat to beat Toubaloo by five lengths lengths. Mullins said: “He settled nicely and he was a bit tidier in his jumping. Tony Martin’s three-time Grade One winner was having his first start for 503 days and made most of the running in the hands of Keith Donoghue. He still held a slight advantage after the third-last fence, but the tank emptied quickly as the race-fit Felix Yonger took control, with Flemenstar fading out of the equation. Press Association