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By Stephen Nellis (Reuters) -Semiconductor manufacturer GlobalFoundries said on Monday it will build a second factory near its in Malta, New York, headquarters, and spend $1 billion to boost output to address the global chip shortage. GlobalFoundries, owned by the United Arab Emirates’ sovereign wealth fund Mubadala Investment Co, makes radio-frequency communications chips for 5G, chips for high-reliability manufacturing for automotive customers, and other specialized semiconductors. The new… Source link

Clover Health (CLOV) CEO Vivek Garipalli has had a tumultuous year following the company’s merger with Chamath Palihapitiya’s SPAC. Though now a meme stock, it’s battling lawsuits spurred by a report from short-seller firm Hindenburg Research alleging the company withheld information about legal issues from investors. It isn’t the health care executive’s first run-in with criticism about his business practices. Three New Jersey hospitals he owned and operated, with two partners, made… Source link

By Evan Sully (Reuters) -U.S. homebuilder confidence in the market for single family homes fell in July to its lowest level since August 2020, driven by shortages in both supply and labor. The NAHB/Wells Fargo Housing Market index declined to a reading of 80 this month from 81 in June. Economists polled by Reuters had expected the index to advance marginally to a reading of at 82. A reading above 50 means more builders view market conditions as favorable than poor. The index hit an all-time… Source link

(Bloomberg) — Zoom Video Communications Inc., whose online conferencing services took off during the Covid-19 pandemic, agreed to acquire Five9 Inc. for $14.7 billion, using its surging stock to expand into an adjacent market that could bolster revenue as lockdowns end. The value of the all-stock offer is $200.18 a share based on the closing price for Zoom’s common stock on Friday, compared with Five9’s $177.60 price on Friday, the companies said a statement Sunday. The target firm will… Source link

(Bloomberg) — Bitcoin’s selloff accelerated Monday, pushing it closer to $30,000 once again. The world’s largest digital coin, down as much as 3.3% at one point during the session, continues to ebb closer to the pivotal round-number level, trading around $30,628 as of 9:41 a.m. in New York. Chartists are watching to see if it breaks below that support, which could exacerbate its decline and set it up for its lowest close since the start of the year. The retreat comes amid a broader… Source link

Bitcoin is falling a day after the options market saw increased demand for out-of-the-money or lower strike put options at $22,000 and $20,000. The leading cryptocurrency was trading at a three-week low of $30,700 at press time, representing a 3.5% drop on the day. The decline has flipped the crucial 50-week simple moving average (SMA) support of $32,250 into resistance. On Sunday, 500 contracts of the $22,000 put option expiring on Dec. 31 changed hands via the institution-focused… Source link

Stocks sank on Monday, pushing Wall Street benchmarks lower even as second-quarter earnings results reflect a strengthening economic rebound, as rising worries over inflation and the resurgence of new COVID-19 infections rattled investors. This week’s batch of earnings will include industry leaders like Netflix (NFLX) and Johnson & Johnson (JNJ), offering a fuller picture of how companies are faring as more parts of the economy reopened in the spring and early summer. All eyes will also be on… Source link

QUESTION: I have years of pictures and videos on Google Photos and want some advice on getting them organized. ANSWER: By default, Google Photos will display your images and videos in chronological order with the latest ones at the top, but there’s much more you can do with the application. Automatic Categories Google has incorporated very sophisticated “machine learning” technology to help you find specific images in a sea of photos. By default, it will group media into various categories… Source link

All the sessions from Transform 2021 are available on-demand now. Watch now. Volley has embraced the new kind of gameplay possible with voice-based games, and today it’s introducing Magic Word, an immersive puzzle game on Google Assistant. This means you can play it on devices that support Google Assistant’s voice recognition technology, such as Google Assistant Smart Displays and the Google Nest Hub Max. The San Francisco company said the latest game combines voice, audio,… Source link

The recent COVID outbreak among the New York Yankees baseball team underscores the fact that the coronavirus vaccines are not 100% effective but are still crucial to preventing hospitalization and death. “There’s a lot of talk about how people are getting COVID anyway, even though they’re vaccinated, and that is true and that is expected because there’s no vaccine that’s 100% all the time,” Dr. Esther Choo, professor of emergency medicine at Oregon Health and Science University,… Source link