Airbus and Boeing are preparing the aerospace industry for sharp increases in output of the next generation of workhorse jets to some 100 a month each, as they explore lighter plastic materials and robotic assembly, industry sources said.
Facing weak supply chains and a potentially lengthy wait for future engine developments, the world's two largest planemakers are years away from launching projects to replace their decades-old Boeing 737 and Airbus A320 series, which remain in demand. But both told a packed technical audience at a Paris composites fair this month that they were already making progress in researching what the succeeding generation of models could be made of - and in turn how fast they could be built. The airplanes that future models would replace are built of aluminium under methods perfected over decades. But composites are being considered for their lighter weight and flowing shape.
23andMe on Sunday filed for bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits that once featured in Oprah Winfrey's annual list of favorite things, and following a 2023 data breach that damaged its reputation. The company's market value peaked in 2021 at nearly $6 billion amid booming interest in DNA testing kits but demand has waned in recent years, hurting firms such as 23andMe and its Blackstone-owned rival AncestryDNA. In 2023, hackers exposed the personal data of nearly 7 million 23andMe customers over a five- month period, dealing a major blow to the company's reputation and compounding its growth problems. The company's co-founder Anne Wojcicki, who made multiple failed takeover bids, resigned as CEO. She will be replaced by Chief Financial Officer Joe Selsavage on an interim basis.
JPMorgan Chase and Walmart are partnering to speed up payments for merchants that sell items through the retail giant's website. The pairing will allow merchants on Walmart's marketplace platform to accept and make payments, while managing cash flow using JPMorgan's systems, said Lia Cao, head of embedded finance and solutions at the largest U.S. bank. JPMorgan sees the move as a growth opportunity, Cao said. It already has over 20 clients in embedded finance partnerships and expects that to double in the next year, she said. The partnership with Walmart is only available for U.S. merchants, but the firms are in talks to expand the service into Europe and other regions, Cao said.
OpenAI's Chief Operating Officer Brad Lightcap will oversee global expansion and corporate partnerships, CEO Sam Altman said, as the Microsoft-backed startup seeks to cement its dominance in the fast-growing AI industry. The ChatGPT-maker is partnering with SoftBank Group and Oracle to establish a network of data centers under the $500-billion Stargate project, aimed at powering artificial intelligence workloads. "Brad will lead our global deployment, focusing on business strategy, key partnerships, infrastructure, and operational excellence to maximize the impact of our research," Altman said. OpenAI has also expanded the role of Chief Research Officer Mark Chen, who will integrate research and product development, the startup's co-founder said in a blog post.
James Hardie Industries said it will buy artificial decking maker AZEK for $8.75 billion, sending its shares tumbling amid analysts' concerns of overpaying for exposure to a sputtering U.S. housing market. The cool reaction to the buyout shows a sense of caution among investors about a firm widening its footprint in the U.S., where new housing stock is near a two-decade high and tariffs and an immigration crackdown under President Donald Trump are seen as likely to slow construction further. AZEK shareholders will get $26.45 in cash and 1.034 James Hardie shares for each AZEK share, bringing the total price to $56.88 per share, a 37.4% premium to the target's close on Friday. AZEK's board supports the offer, which would result in James Hardie and AZEK shareholders owning about 74% and 26% respectively, the companies said.
Dun & Bradstreet has agreed to be acquired by private-equity firm Clearlake Capital for $4.1 billion, the data and analytics provider said, putting an end to its second stint as a public company after its stock-market listing more than four years ago. Analysts have also pointed to its healthy free cash flow and potential for growth in revenue and margins as some of the factors that made it ripe for a takeover. The offer of $9.15 in cash represents a 4.8% premium to its last close, but an 11% discount to its closing price on August 1, a day before Reuters first reported that Dun & Bradstreet was exploring options including a sale. Including debt, the deal is valued at $7.7 billion. The transaction provides for a "go-shop" period, during which Dun & Bradstreet can solicit and evaluate alternative proposals. This could help extract a modestly higher price if market valuations improve in the coming weeks, Needham analysts said.
