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Intel CEO Gelsinger Leaves as Chipmaker’s Turnaround Flounders

(Bloomberg) -- Intel Corp. Chief Executive Officer Pat Gelsinger, who was hired in 2021 to lead an ambitious turnaround of the iconic chipmaker, will leave the job after the comeback sputtered and the company only fell further behind rivals.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIntel Chief Financial Officer David Zinsner and Michelle Johnston Holthaus, who is taking on a new role as CEO

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Intel CEO Pat Gelsinger retires after tumultuous tenure leading the chip giant

Intel CEO Pat Gelsinger retired over the holiday weekend, leaving the tech giant with new leadership amid the pivotal AI transition.

Intel CEO Gelsinger retires; Zinsner and Johnston Holthaus named interim co-CEOs

Intel CEO CEO Pat Gelsinger has retired, with David Zinsner and Michelle Johnston Holthaus named as interim Co-CEOs. Intel said Monday that it will conduct a search for a new CEO. Zinsner is executive vice president and chief financial officer at Intel.

Prosus Swings to Profit in First Half After Asset Sales

(Bloomberg) -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesGroup adjusted earnings before interest and taxes totaled $60 million in the six months through end-September from a loss a year earlier, the Amsterdam-based company said in a statement Monday. The group sold mor

Trump's low oil price promise is a risk and a boon for emerging markets

Donald Trump has promised to "drill, baby, drill" to halve energy costs, a plan that sends shivers through the governments of emerging market oil producers anxious about dollar earnings and fills poorer importing countries with hope. In practical terms, Trump, the incoming president of the world's biggest oil producer, cannot fully control prices. The United States has limited influence over producer group OPEC+, the Organization of the Petroleum Exporting Countries and allies, and it does not have a state oil company Trump can order to increase output.

Exclusive-Bangladesh halves power buying from India's Adani amid payment dispute

Bangladesh has halved the power it buys from neighbouring India's Adani Power, citing lower winter demand, government officials told Reuters on Monday, amid disagreements over dues running into hundreds of millions of dollars. Adani, whose founder has been accused by U.S. authorities of being involved in a bribery scheme in India, charges which he has denied, halved supply to Bangladesh on Oct. 31 over payment delays as the country battles a foreign exchange shortage. Subsequently Bangladesh told Adani to keep supplying only half the power for now, officials said, although it will keep paying its old dues.

Morning Bid: Dollar flexes on Trump swipe, French politics, yuan slide

While the trade threat seems notional, it contained some heft in markets who had assumed a second Trump presidency would be overtly behind weakening the dollar's value. Reserve status and exchange rate value are two different things, of course, but the comments seemed to bolster the currency nonetheless. France's far-right National Rally will likely back a no-confidence motion against the government unless there's a "last-minute miracle", with lawmaker Marine Le Pen giving Prime Minister Michel Barnier until Monday to yield to RN's demands as a part of protracted horse trading over the annual budget plan.

Bezos Backs AI Chipmaker Vying With Nvidia at $2.6 Billion Value

(Bloomberg) -- Amazon.com Inc. founder Jeff Bezos joined Samsung in a $700 million bet on Tenstorrent, valuing the AI chip startup with ambitions of taking on Nvidia Corp. at about $2.6 billion.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesTenstorrent, which hopes to create a chip to try and break Nvidia’s stranglehold on the AI business, raised capital in a funding round led by South Korea’s AF

New US solar tariffs on Southeast Asia to raise prices, cut profit margins

A new round of U.S. solar panel import tariffs on Southeast Asian producers is expected to raise consumer prices and cut into producer profit margins, but was largely anticipated by industry, analysts said. The new duties announced on Friday by the Commerce Department extend the United States' anti-dumping regime in Southeast Asia to solar cells, from just finished modules previously.

US Tightens Curbs on China’s Access to AI Memory and Chips Tools

(Bloomberg) -- The Biden administration unveiled new restrictions on China’s access to vital components for chips and AI, escalating a campaign to contain Beijing’s technological ambitions.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesThe Department of Commerce slapped additional curbs on the sale of high-bandwidth memory and chipmaking gear, including that produced by US firms at foreign facili

Trump’s pick to run FCC is an ominous sign for Big Tech

The country’s tech titans might need to start fortifying defenses against the agenda of incoming Federal Communications Commission chair Brendan Carr.