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(Bloomberg) -- Grammarly Inc., the maker of artificial intelligence-powered writing assistance software, is acquiring productivity startup Coda in a deal that will also bring it a new chief executive officer.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousCoda co-founder and CEO Shishir Mehrotra will take over that position at Grammarly, according to statement from the two companies Tuesday. Grammarly’s current top executive, Rahul Roy-Chowdhury, will remai

(Bloomberg) -- GlobalWafers Co., a Taiwanese maker of silicon wafers used in chip manufacturing, finalized a deal to receive as much as $406 million in awards from the US Chips and Science Act to help build factories in Texas and Missouri.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe agreement, announced by the US Commerce Department, shores up a preliminary accord an

(Bloomberg) -- Alibaba Group Holding Ltd. has agreed to sell its Intime department store business to Youngor Fashion Co. for around $1 billion in a move to offload non-core assets.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe 7.4 billion yuan deal announced on Tuesday, which confirmed an earlier Bloomberg News report, will see the Chinese ecommerce giant record a loss

(Bloomberg) -- Beijing-based Zhipu raised a further 3 billion yuan ($412 million) to power its artificial intelligence development efforts.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe company, which last year drew the backing of Chinese internet leaders Alibaba Group Holding Ltd. and Tencent Holdings Ltd., announced the completion of its latest fundraising in a state

The chief executive of Arm on Monday downplayed the company's ambitions to become a chip supplier in its own right at a trial against Qualcomm, a major customer that pays Arm an estimated hundreds of millions of dollars per year. The crux of the litigation is a clash over Qualcomm's license agreement for the use of Arm's intellectual property following Qualcomm's $1.4 billion acquisition of chip startup Nuvia in 2021. The remedy Arm is seeking in the case is the destruction of Nuvia's designs, which it alleges form the basis of the low-powered AI PC chips that Nuvia's executive team helped Qualcomm design.

The gas will be supplied from Chevron's 530 terajoules-a-day Gorgon and Wheatstone facilities, and North West Shelf Venture in the state of Western Australia, Chevron Australia said in a statement. Separately, Alcoa said the gas would be used to power its alumina refineries in Western Australia. Alcoa had previously secured gas supply deals with Chevron, Warrego Energy and Exxon Mobil in 2020 to power its Kwinana, Pinjarra and Wagerup alumina refineries in the state from 2024 onwards.

(Bloomberg) -- Kioxia Holdings Corp. was supposed to be an irresistible debutant in a hot Japanese market, heralding the rise of a homegrown chipmaker with big backers and a storied pedigree. It may get a cooler reception than anticipated.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe pioneer in NAND flash memory — chips that store information in smartphones and data-c

(Bloomberg) -- President-elect Donald Trump announced that SoftBank Group Corp. planned to invest $100 billion in the US over the next four years during an event alongside Chief Executive Officer Masayoshi Son on Monday.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next Year“He’s doing this because he feels very optimistic about our country since the election,” Trump said, adding

Mobil is a petroleum brand owned and operated by American oil and gas corporation Exxon Mobil. The Australian Competition and Consumer Commission (ACCC) alleges that Mobil falsely represented that its "Mobil Synergy" contained certain additives, when it did not. "Consumers have no way of verifying the claims made about the fuel they put into their tank and rely on the accuracy of claims made by the fuel supplier," the ACCC Commissioner Liza Carver said.

(Bloomberg) -- Tyme Group, a digital lender controlled by South African billionaire Patrice Motsepe, raised $250 million in a funding round that made it one of Africa’s few unicorns. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe bank is valued at $1.5 billion after the capital raise, which included a $150 million investment from Latin America’s most valuable financial