Financial Daily Dose 7.23.2019 | Top Story: Apple to Buy Intel’s Smartphone Modem Chip Division


Apple is in “advanced talks” to snap up Intel’s smartphone-modem chip business, a portfolio “of patents and staff valued at $1 billion or more.” The deal, should it close, would go far in prepping Apple for the arrival of next gen 5G wireless technology – WSJ and MarketWatch and Bloomberg

With a cool billion from Microsoft at its back, artificial intelligence lab OpenAI—a Silicon Valley venture co-founded by Elon Musk—is all in on its effort to “build artificial general intelligence, or A.G.I., a machine that can do anything the human brain can do” – NYTimes and MarketWatch

Since its checkbook was already out, Microsoft also ponied up $25 million recently to resolve allegations that its Hungary subsidiary “bribed foreign officials in violation of the Foreign Corrupt Practices Act of 1977” – Law360

For its part, Starbucks has taken a sizeable financial (and board) stake in tech company Brightloom in an effort to “speed up its offering of mobile ordering and payment options at its global stores to improve customer convenience” – WSJ and MarketWatch

The UK (or, to be accurate, a rather tiny fraction of it) has placed its trust in the voluble and “unpredictable” Boris Johnson—former Foreign Secretary and Mayor of London—to guide it (read shove it) through the Brexit process – WSJ and MarketWatch and NYTimes

The unfortunate tentacles of the Epstein case seem to have no bounds to their reach, and the Times helps us understand what this means from a Wall Street perspective – NYTimes

Credit Suisse hasn’t made the best first impression in its NY state court toxic RMBS trial, with Justice Jennifer G. Schecter openly questioning the purpose of some Credit Suisse lines of questioning – Law360

A look at what Equifax’s $650 million data breach settlement will mean for the average breached consumer – NYTimes and MarketWatch and Mashable

Boeing’s 737 Max problem is, well, not just a Boeing problem – WSJ

AutoNation has “abruptly” named CFO Cheryl Miller as its new chief executive, its second hire for that slot this year alone after the 20-year run of former CEO Mike Jackson – NYTimes and WSJ

Engage, my fellow TNG nerds.  Picard is back, and he’s bringing a few friends with him – io9


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