Stellantis, the car giant behind Vauxhall, Fiat and Peugeot, is the latest company to warn of production woes, following the lead of rivals Ford and Nissan as well as smartphone makers Apple and Samsung.
Stellantis said that production in the first quarter of 2021 was down 11 per cent, but added that the second quarter would be even worse.
Because of the problem, the firm has had to stop installing digital speedometers in its Peugeot 308 cars and return to using older analogue ones.
Richard Palmer, chief financial officer at Stellantis, said: We do expect it [the shortage] to improve in the second half, but clearly I think it would be naive to expect it to just disappear.
Innoveo Announces Series A Funding Round of $15 Million
NEW YORK, April 20, 2021 /PRNewswire/ Innoveo, a leading provider of enterprise no-code solutions, has announced the completion of its $15 million Series A funding round after a highly successful year in 2020.
Paulson & Co. Inc., founded by John A. Paulson, and an affiliate fund of Michael E. Tennenbaum are first-time investors in Innoveo and will join Everstone Capital, one of Asia s premier investment firms focused on cross-border North America - Asia investments as well as domestic investments in India and Southeast Asia, and the management team as shareholders. The proceeds will primarily be used to grow the sales team and marketing activity to expand upon strategic partnership opportunities. Funding will also be allocated to further enhance Innoveo s product offerings by accelerating platform development and R&D - extending capabilities to be a top contender within the highly competitive technology sphere.
But a new security probe into the sale by UK authorities, calls in China for regulators to block it altogether and opposition from some of Arm’s customers have led some to conclude the deal is doomed.
Matthew Byatt, managing partner and semiconductor expert at Acuity Advisors, said Nvidia’s takeover was facing ‘severe headwinds that are getting stronger’.
But he said there is a strong case for Softbank to switch to an initial public offering (IPO) – or float – of Arm instead.
Byatt said: ‘What all the fuss about the Arm deal shows, really, is that the company’s value is in its independence.
Czech-based ARX Equity Partners acquires Slovenia s I-Tech Mark Rubens/Shutterstock.com
LJUBLJANA (Slovenia), March 1 (SeeNews) – Czech-based ARX Equity Partners has acquired Slovenian company Instrumentation Technologies (I-Tech), a developer of instrumentation for the particle accelerator and proton therapy markets, I-Tech said on Monday.
ARX acquired the company from its founders, who were advised in the transaction by Acuity Advisors, and agreed to partner with the company s existing management team in the future, I-Tech said in a statement.
Financial details of the transaction were not disclosed. ARX is delighted to partner with I-Tech, which is an outstanding example of a highly successful Slovenian entrepreneurial success story. Our primary aim will be to support the I-Tech team in order to grow and develop the company organically, managing partner Brian Wardrop said.
Difficult Decisions: Splitting a Farm Business lancasterfarming.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lancasterfarming.com Daily Mail and Mail on Sunday newspapers.