Markets

Qualcomm Inc is struggling to keep up with demand for its processor chips used in smartphones and gadgets, as a chip shortage that first hit the auto industry spreads across the electronics business, industry sources told Reuters.

Buyout firm KKR & Co Inc is seeking to raise US$12 billion for its flagship global fund that will invest in infrastructure assets such as oil and gas pipelines and renewable energy projects, according to people familiar with the matter.

Pakistan on Thursday (Mar 11) blocked the popular social media app TikTok after a court order over a complaint that it ran indecent content, a spokesman for the country's telecoms regulator said.

Uber Technologies Inc and Lyft Inc on Thursday said they would share with each other information on drivers and delivery workers they had banned from their platforms for the most serious incidents in an effort to boost safety.

General Motors President Mark Reuss said Thursday the U.S. government should extend new investment tax credits for electric vehicle manufacturing and supply chains and expand consumer incentives to electric vehicle purchases, including for used vehicles.

Members of the Sackler family who own Purdue Pharma LP have offered roughly US$4.3 billion to resolve sprawling opioid litigation, up from US$3 billion initially proposed in settlement discussions underway in the OxyContin maker's bankruptcy proceedings, four people familiar with the matter said.

Buyout firm KKR & Co Inc is seeking to raise US$12 billion for its flagship global fund that will invest in infrastructure assets such as oil and gas pipelines and renewable energy projects, according to people familiar with the matter.

FedEx Corp's chief executive, Frederick Smith, will testify before Congress on Wednesday as U.S. lawmakers begin a fast push for a massive hike in infrastructure spending and drive toward electric vehicles, congressional aides said Thursday.

A judge ruled Barclays will have to pay its own 33 million pound (US$46.09 million) legal bill despite winning a case against British businesswoman Amanda Staveley's PCP Capital Group over how the bank negotiated a financial lifeline during the credit crisis in 2008.

General Motors Co on Thursday announced a partnership with a lithium metal battery startup to boost the U.S. automaker's battery development, allowing for higher electric vehicle driving range in a smaller package.