The optics of Intel’s Mobileye acquisition
Intel is paying more than $15 billion to get into direct competition with Nvidia and Qualcomm to develop driverless systems for automakers. And, as Reuters’ Tova Cohen, Ari Rabinovitch and Paul Lienert report, they’re paying big to do it: 21 times Mobileye’s expected 2017 revenue and 60 times earnings -- high valuations in just about any field, but certainly in this one. Find out why Intel thinks the cost is worth it.
Exclusive: Russia appears to deploy forces in Egypt
Russia appears to have deployed special forces to an airbase in western Egypt near the border with Libya in recent days, a move that would add to U.S. concerns about Moscow’s deepening role in Libya.
Ad buyers try not to shoot bricks during March Madness
The NCAA basketball men’s tournament is still among the biggest draws on the sports calendar for advertisers seeking large audiences, even as TV ratings drop for some sporting events. But betting big and screwing up is a kind of March Madness no one wants to be afflicted with. As one buyer told Reuters’ Tim Baysinger, online ads won’t get you fired, but “they may question you when you say you’re going to spend $5 million on a Super Bowl spot, or $1.5 on the NCAA tourney and have it fall flat or be an unexciting game or have it underdeliver.”
When ‘Iranian Public Offering’ remains wishful thinking
Iran’s top cargo shipping company has held meetings in London to discuss a possible listing on the London Stock Exchange, but has so far been thwarted by U.S. sanctions that still scare banks off Iranian business, Reuters’ Jonathan Saul and Parisa Hafezi report exclusively.
Brazil’s car wash: all wet
Brazil’s Supreme Court is likely to begin ordering the release next month of suspects in the country’s biggest corruption investigation who have been held for months without being brought to trial, Reuters reports exclusively. Such a decision would be a setback for Sergio Moro, the federal judge who has put dozens of oil industry and engineering company executives behind bars in the investigation into political kickbacks on contracts at state companies, code named Operation Car Wash. Reuters’ Lisandra Paraguassu and Anthony Boadle report from Brasilia.
Reuters photo of the day
Police officers draw their weapons during a protest, following a release of previously undisclosed video of Michael Brown, in Ferguson, Missouri, March 12. REUTERS/Lawrence Bryant