Wednesday, 12 Aug 2020

Ams Receives EU Regulatory Approval For Osram Acquisition – Quick Facts

The four biggest tech companies are each worth more than $1 trillion, a landmark last reached before Covid-19

  • The four leading technology stocks have all surpassed a one trillion dollar market cap, reaching a landmark first seen at the end of January. 
  • Alphabet was the latest to enter the trillion-dollar club, reaching $1.01 trillion in market value Monday, joining Apple ($1.63 trillion), Microsoft ($1.60 trillion) and Amazon ($1.47 trillion).

The four biggest tech companies are each worth more than $1 trillion, a landmark that was last reached before the Covid-19 pandemic struck the U.S. 

The landmark shows the resilience of the tech industry in the face of a global pandemic, recession and record unemployment. 

Alphabet was the latest to re-enter the trillion-dollar club, reaching $1.02 trillion in market value during trading on Monday. Apple was valued at $1.63 trillion, followed by Microsoft at $1.61 trillion. Amazon, which has largely benefited from stay-at-home orders that battered most companies, was valued at $1.48 trillion in early trading. 

The valuations were boosted by a strong morning for U.S. markets. The Dow Jones Industrial Average was up 1.7%, while the S&P 500 gained 1.4%. The tech-heavy Nasdaq Composite jumped 1.6% to an all-time high.

 The technology giants first reached the milestone in late January and held onto gains into February, before the pandemic caused markets to plummet. 

Stock Alert: Ayro Jumps 57%

Shares of light-duty, emissions-free electric vehicles maker Ayro, Inc. (AYRO) are surging more than 57% Monday morning after the company today announced that it has completed its factory expansion in Austin from 10,000 square feet to 24,000 square feet.

This expanded facility will allow the company to produce up to 600 vehicles per month while the older one was capable of making only 200. The expansion includes new assembly lines and additional engineering and product development facilities to accommodate new staffing in battery technology, powertrain, supply chain, service, and application services solutions.

“Underlying the expected demand for our vehicles – both existing models and newly engineered designs nearing completion – is the coronavirus pandemic which continues to force businesses to rethink campus and urban mobility relative to accelerating on-demand delivery models. Our electric vehicles have the potential to be a part of this changing landscape for how food, goods, equipment, materials, and related items are transported,” said Rod Keller, Chief Executive Officer of AYRO.

AYRO is currently trading at $5.14. It has traded in the range of $0.75- $8.75 in the past 52 weeks.

Calgary Transit MyFare app now available for iPhone after delay

Calgary Transit riders who are also iPhone users can now buy tickets and passes on the new mobile app after a delay on launch day meant the app wasn’t available for iOS.

Border between Australia's most populous states closed

Border between New South Wales and Victoria shut down indefinitely as COVID-19 cases soar.

The border between Australia’s two most populous states is closing indefinitely as coronavirus infections soar on one side.

Authorities in Victoria are scrambling to bring the spiking case numbers back down in the state, locking down residents and bringing in more social distancing measures.

Australia has fared better than many countries during the COVID-19 pandemic, but the outbreak is a clear example of how quickly the virus can return.

Al Jazeera’s Nicola Gage reports from the nation’s capital, Canberra.

Beiersdorf HY Preliminary Like-for-like Sales Down 10.7%

Nivea maker Beiersdorf AG (BDRFY.PK,BDRFF.PK) reported that its preliminary group sales for the first half of 2020 declined 10.7% year on year to 3.513 billion euros, on a like-for-like basis, due to the global coronavirus pandemic.

The consumer business segment’s like-for-like sales for the period were down 10.9%, while the tesa business segment’s like-for-like sales were down 10.0%.

For the entire 2020 fiscal year, the business impact of the coronavirus pandemic can still not be projected with certainty, the company said.

The company noted that it will release half-year of 2020 report on August 6.

Supreme Court rules states can enforce presidential elector pledges

Supreme Court gives school choice a victory by striking down state ban on taxpayer funds for religious schools

Becket Law VP and Executive Director Montse Alvarado breaks down the case out of Montana.

The Supreme Court on Monday upheld state laws requiring those chosen for the Electoral College to back the popular winner in their state's presidential race.

The court ruled 9-0 in a pair of cases that states can enforce pledges requiring that electors of their states follow the will of the voters when casting their electoral ballots.

The cases come after a group of Democratic electors that called themselves the "Hamilton Electors" voted for moderate Republicans instead of Hillary Clinton, in an unsuccessful effort to convince Republican electors to vote for somebody besides President Trump.

Justice Elena Kagan wrote the court's opinion.

Fox News' Bill Mears contributed to this report.

This story is developing. Check back for updates.

Ams Receives EU Regulatory Approval For Osram Acquisition – Quick Facts

Austrian sensor manufacturer ams AG announced Monday that it has received unconditional regulatory approval from the EU commission for the acquisition of German lighting company Osram Licht AG (OSAGF.PK).

The EU regulatory approval constituted the last remaining condition precedent for closing the transaction, which is now fulfilled. ams therefore expects the payment of the offer price to the holders of the tendered shares and the closing of the takeover offer on July 9, 2020.

Following the closing, ams will hold 69 percent of all shares in Osram, excluding treasury shares.

ams said it is excited about this success and looks forward to creating a worldwide leader in sensor solutions and photonics through the combination of ams and Osram.

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