February 4, 2021 - Biz in 60

Business in 60 Seconds

UK, EU to probe Nvidia’s $40B acquisition of Arm Holdings The UK and EU will open a probe into Nvidia's 40-billion- dollar acquisition of British chip designer, Arm Holdings, from Softbank. Regulators will consider whether Arm has an incentive to withdraw or reduce the quality of its services to Nvidia's rivals. The deal was part of Softbank's strategy to shift towards becoming a global investment and asset management powerhouse. Report: McKinsey agrees to pay $573M to settle opioid claims McKinsey has reportedly agreed to pay 573-million dollars to resolve claims over its role in the opioid epidemic in the US. That's according to the Associated Press. The consulting firm came under scrutiny for advising Purdue Pharma and its owners the Sackler family on how to boost sales of the prescription opioid, OxyContin. China's Xiaomi to open production facility in Turkey China's leading electronic device maker, Xiaomi, is planning to open a production facility in Turkey with an investment of 30 million dollars. The company says it will employ around 2-thousand people at the plant, which will have an annual production capacity of 5 million smartphones. The plant is scheduled to start production in the first quarter of this year.