Europe's biggest ammunition factory, constructed by arms producer Rheinmetall AG in the Unterlüss area of Lower Saxony, started operations on Wednesday, according to Bloomberg. The facility aims to achieve its maximum output by 2027, at which point it can manufacture as many as 350,000 rounds of ammunition annually. The firm intends to manufacture rocket artillery systems at that location...

EssilorLuxottica, the European producer of eyewear and sunglasses, is contemplating raising its ownership in the Japanese optical equipment manufacturer Nikon Corp., according to Bloomberg, which references sources with knowledge of the situation. EssilorLuxottica presently possesses roughly 9% of Nikon. As per sources, it aims to raise its ownership in the Japanese firm to 20%. Nikon's stock...

AbbVie Inc., an American pharmaceutical firm, is acquiring the operations of Gilgamesh Pharmaceuticals Inc. to create a medication aimed at treating individuals with moderate to severe clinical depression. A press release from AbbVie states that clinical trials for the medication are presently in progress. According to the agreement, AbbVie will purchase Gilgamesh's initiative to create this...

Nvidia Corp. is negotiating with the U.S. government for approval to send advanced new chips to China, CEO Jensen Huang stated on Friday. This week, reports surfaced indicating that Nvidia is creating a new AI chip for the Chinese market, named the B30A, which surpasses the H20 that the company can send to China. Huang, visiting Taiwan, informed reporters that the firm could send more...

According to court documents cited by CNBC, Elon Musk proposed that Mark Zuckerberg, the head of Meta, join in the acquisition of OpenAI planned for early 2025. The documents were released to the public as a segment of the legal dispute involving Musk and OpenAI, which the entrepreneur co-founded. In February of this year, Musk and a consortium of investors submitted a proposal to purchase the...

The procedure for drawing in a strategic investor to the Latvian national airline airBaltic has been successfully finalized, all transaction paperwork has been signed, and the required formalities have been fulfilled, according to the airline's website. “The total investment in the airline, which includes the previously disclosed joint investment by the Latvian state on identical terms and the...

The shareholders of Mediobanca in Italy voted predominantly against acquiring its competitor Banca Generali, the bank announced in a statement. Just 35% of shareholders supported the acquisition of the bank, falling short of the needed 50%. “This represents a lost chance for the growth of our bank and the Italian financial sector,” stated Mediobanca CEO Alberto Nagel. The outcome of the vote...

Thousands of employees at the UK aerospace company Airbus are organizing multiple strikes in September, totaling ten days, to request increased salaries, as stated by their union. The Unite union, representing over 3,000 Airbus engineers and assemblers, is set to stage protests on September 2-3 and September 10-11. Additional dates for strikes in the latter part of the month have not been...

Investment company Advent International has proposed to acquire Swiss semiconductor manufacturer u-blox Holding for around 1.05 billion Swiss francs ($1.3 billion). As stated by the companies, Advent, via its subsidiary ZI Zenith, will provide u-blox shareholders with 135 Swiss francs for each share, reflecting a 32% premium over the average weighted price of these shares over the 60 trading days...