NVIDIA-ARM deal; East African Crude Oil Pipeline; US Cannabis banking law
In today’s episode, we will discuss NVIDIA’s acquisition of ARM holdings as the United Kingdom plans to look into national security implications of the deal, examine Uganda and Tanzania’s controversial $3.5 Billion oil deal, and look into how a US legislation allowing banking services to cannabis firms could aid the industry in the country.
Today on The Leaders' Brief -
- The United Kingdom has asked its regulatory authorities to investigate the $40 Billion takeovers of Softbank-owned British chip manufacturer Arm Holdings by American tech firm NVIDIA, creating more complications for the deal. Last September, Japanese conglomerate SoftBank announced it was offloading the British chipmaker it had bought for a record amount of $31.4 Billion five years ago. Apart from in the United Kingdom, the deal saw increasing complications in China in the form of several lawsuits a week ago.
- Tanzanian president Samia Suluhu, in her first foreign trip this month, signed a deal with Ugandan President Yoweri Museveni and French oil company Total’s chief executive Patrick Poyanne to develop the world’s longest heated crude oil export pipeline. The over $3.5 Billion East African Crude Oil Pipeline expects to be operational by 2025, carrying over 216,000 barrels of Ugandan crude oil every day. Tanzania will earn a little over $13 from each barrel passing through the pipeline, 80% of which falls under its borders.
- The US House of Representatives passed legislation this week allowing banks to provide services to cannabis companies in states where it is legal. The development is an important landmark for the country’s cannabis industry which is still in its nascent stage, with the crop being legal for medical purposes in 36 states, and legal for recreational purposes in 18 states.
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egomonk is a global intelligence platform delivering asymmetric outcomes by bringing organizations closer to the communities they want to serve and the leaders they wish to influence. If you wish to collaborate with us then email us at [email protected].