Business
> Uber is reportedly exploring the idea of purchasing Expedia, according to the Financial Times.
www.theregister.com
> Biggest semi contract manufacturer – and Nvidia supplier – building out capacity in US and Europe
"True Value, which sells hardware, tools, lumber, plumbing and heating supplies, and other home improvement goods, said its retail stores are independently owned and not part of the bankruptcy process. The Chicago, Illinois-based company, has between $500 million and $1 billion in total liabilities, according to its Chapter 11 petition in Delaware bankruptcy court."
techcrunch.com
> Nvidia shares hit a record high on Monday, closing at $138.07 as Wall Street anticipates earnings updates from Microsoft, Meta, Google and Amazon on their
www.haaretz.com
Israel's large defense firms have European subsidiaries that manufacture components for Israeli weapons systems. Israel fears that arms embargoes by the U.K., Germany and other countries will impair their ability to supply critical equipment to Israel Israel's deteriorating international standing amid the ongoing war, coupled with various countries' restrictions on arms exports to Israel, could lead to a situation where wholly Israeli-owned foreign defense companies are unable to export weaponry to Israel. In recent months, several countries have taken both public and discreet measures to avoid being seen as aiding Israel, which stands accused of committing genocide in Gaza. The U.K. has revoked 30 export licenses and implemented changes that will complicate future defense exports to Israel. Germany, a major exporter to Israel (particularly of submarines and corvettes), has effectively restricted defense exports. While Berlin denied reports of a complete export halt, local media reported a dramatic reduction in licenses being issued, citing a year-long delay in an Israeli request for 10,000 tank shells. On Friday, French President Emmanuel Macron also called for restricting arms exports to Israel.
www.cnn.com
"Lamb Weston, the largest producer of french fries in North America and a major supplier to fast-food chains, restaurants and grocery stores, is closing a production plant in Washington state. The company announced last week that it would lay off nearly 400 employees, or 4% of its workforce, and temporarily cut production lines in response to slowing customer demand."
www.cnbc.com
Oil markets are being too complacent given the risk of major supply disruptions in the Middle East, analysts told CNBC on Thursday, with one warning that crude futures could rally to more than $200 a barrel. It comes amid speculation that Israel could be planning to launch a retaliatory attack on Iran targeting its oil infrastructure — a prospect which would likely deliver a rude awakening to bearish energy market participants. Iran, which is a member of OPEC, is a major player in the global oil market. So much so, it is estimated that as much as 4% of the world’s supply could be at risk if Iran’s oil infrastructure becomes a target for Israel. Speaking to CNBC’s “Street Signs Europe” on Thursday, Bjarne Schieldrop, chief commodities analyst at Swedish bank SEB, said escalating tensions in the Middle East could have dramatic consequences for the market. “If ... you really took out the oil installations in Iran, force down the exports by 2 million barrels, then the next question in the market will be what will happen now in the Strait of Hormuz? That, of course, would add a significant risk premium to oil,” Schieldrop said.
