Nvidia, Intel
Nvidia is investing $5 billion in rival Intel. A month after the Trump administration took a 10% stake in the struggling chipmaker, Nvidia—the largest company in the world by market cap—is pushing its chips in, too. With the investment, Nvidia and Intel will jointly develop chips for data centers and personal computers, giving Intel another boost for its turnaround plan while allowing Nvidia to move deeper into the PC market. The companies have reportedly been discussing a deal since last year, before the Trump administration bought a stake in Intel. Nvidia’s cash infusion increases the value of the government’s stake by nearly $5 billion to $14 billion. The news powered Intel’s stock to its best day yesterday since 1987.
Trump asks SCOTUS to allow the firing of Lisa Cook. The next big Supreme Court case could be over the fate of a Federal Reserve governor. Yesterday, President Trump asked the Supreme Court for an emergency order to remove Lisa Cook from the Fed’s board of governors after an appeals court permitted her to keep her job. Trump has tried to fire Cook for allegedly claiming two different properties as her primary residences, which Cook has denied. (Trump’s treasury secretary, Scott Bessent, allegedly did the same thing he has accused Cook of doing, Bloomberg reported.) Per the Associated Press, no president has fired a Fed governor in the 112-year history of the agency, which was designed to remain independent from partisan politics.
Starbucks workers are suing the company over its new dress code. Sbux employees filed lawsuits in Illinois and Colorado and a complaint in California alleging that the coffee giant broke the law when it changed its dress code but failed to reimburse those who had to buy new clothes. In May, Starbucks began requiring workers to wear a solid black shirt under their green aprons in order to give customers a more consistent experience across stores. Previous dress codes were reportedly lax, but the new one is being strictly enforced, the Associated Press reported. Starbucks did not comment directly on the lawsuits, but noted that it provided employees with two shirts at no cost.—AE
No comments:
Post a Comment