Country out of its worst economic slump in decades. The deadline draws near for tiktok to divest it u. S. Assets, reports a shutdown of its priced app for sale. We have breaking news. Oftbank will be selling this as bloomberg learned softbank was trying to strike this deal that could be valuing it at 40 billion. Arm, weis deal to sell could have seen softbank reviving those stocks about taking the group privates. We are hearing that softbank divisionelling its arm to nvidia. This would be a 40 billion deal, the biggest chip deal to date. The transaction value is up to 40 billion. Nvidia could be paying more than 21 billion in stock and 12 billion in cash. This would be a 2 billion payment as signing. This coming at a time as we continue to see softbank divest its assets. Softbank could be receiving an additional 5 billion of cache if the performance meets certain targets. This also depends on what regulatory scrutiny they go through. This could be the largest ever in the semiconductor
Facebook takes action but does the network go far enough . Elon musk cuts a rug as the Company Delivers its first cars from the shanghai factory. Cestart, the annual conference is currently underway in las vegas. Ces is gathering the biggest names in the business of consumer technologies and served as the proving ground for Innovative Technologies for 50 years. A flying carng on with hyundai, working on air taxis to take the concept of ridesharing to a higher level. That this is say closer than you think. At uber, we have been working on elevate for about three years, developing a network and ecosystem of people aligned with our vision of bringing ridesharing from the ground into the sky. We are looking to launch our network in 2023. We have a network of now eight partners, hyundai is our eighth partner. We are excited about being able to do it. What regulatory hurdles do you expect to meet . We have to look at regulatory considerations at the local and national level. We have teams wo
15, right now on cnn this morning, a georgia judge, just hours from revealing weathered Da Fani Willis will be removed from Donald Trumps election version case. Plus Breaking News huge tornado wow oh, my my god. A deadly tornado outbreak. The latest on widespread damage in two states, and the storms on the move right now claus, new reporting on what may have sent a boeing seven at seven full of passengers plunging into a nosedive all right. It is 06 00 a. M. Here in washington. Its also 06 00 a. M. And indian lake, ohio. That is one of several places waking up to scenes like this after violent tornadoes overnight at least two people have been killed in this region after the twisters hit, are meteorologists are fan tracking the damage and storms still out there right now, he will be with us later on in the hour. Good morning, everyone. Im kasie hunt. Its wonderful to be with you on this friday morning. Happy friday. It is decision day for the Fulton County da hours from now, Georgia Sup
Asia where we count down to asias major market open. Haidi apples sales disappoint overshadowing record Quarterly Services revenue. Amazon gaming after the bell as the outlook beats the street. A risk off following a slump in u. S. Stocks and bonds focus shifting to fridays jobs report for clues on the feds next steps. Donald trump pleads not guilty in a washington courtroom on charges of trying to obstruct the 2020 president ial election. It election. We are getting news when it comes to singapores ocbc reporting Second Quarter net income of 1. 71 billion sing dollars. A little shy of 1. 7 4 billion. Being declared of 40 sing cents. Net interest margin at 2. 26 , the estimate was for 2. 25 . The common equity tier one ratio sitting at 15. 4 . Noninteresting cover, one point z7 bion sing dollars, a little bit of a beat on expectations, total income at 3. 6 billion be on expectations, profit seems to be increasing based on a year ago based on what we heard from analysts. We had been exp
Katie welcome to bloomberg markets. Take a look at markets now and you have the big benchmarks fighting to stay green even as we worry about regional banks. The s p 500 is higher by 0. 2 and big tech is slightly better. The nasdaq 100 is up about 0. 4 . Kre is an etf that tracks regional banks and its off by about 2. 2 or so. The new York Community bank shares are at the lowest since 1996. They are plunging once again for the commercial real estate lender said it found Material Weaknesses and how it tracks loan risks. Hermann chan joins me now. Could this test put this into context. We were waiting for another shoe to drop so how bad is this one . The disclosure yesterday evening about the Material Weakness raises questions on how the bank is monitoring their Loan Portfolio especially with heightened exposure to areas of concern like Office Commercial real estate and rent regulated apartment lending. It adds to the uncertainty and raises questions on future potential provisions for loa