rejects

Unity shares tumbled 7% on Monday, after the video game software company's board rejected a bid to be acquired by AppLovin.Unity announced on Monday that AppLovin's $20 billion bid was "not in the best interests of Unity shareholders." AppLovin offered to buy Unity for $58.85 per share last week, which was a premium of about 18% to the prior closing price.Instead of taking that offer, Unity recommends that shareholders vote in favor of its own $4.4 billion proposed acquisition of mobile advertising technology firm…

The US Federal Communications Commission rejected SpaceX's Starlink and LTD Broadband's applications for more than $2 billion (roughly Rs. 15,930 crore) in internet service subsidies, the FCC said on Wednesday.In December 2020, the FCC tentatively awarded $9.2 billion (roughly Rs. 73,281 crore) to over 300 bidders to deploy high-speed broadband from the Rural Digital Opportunity Fund. LTD Broadband won $1.32 billion (roughly Rs. 10,514 crore) and SpaceX's Starlink satellite internet network won $885.5 million (roughly Rs.…

The Federal Communications Commission has rejected SpaceX's Starlink application for a $885 million slice of the $9.2 billion Rural Digital Opportunity Fund (RDOF) program. In December 2020, SpaceX was announced as one largest recipients of the 180 firms awarded funds under the FCC's first round auction for RDOF funding over 10 years to bring high-speed broadband to 5.2 million unserved US households and businesses.    But now the FCC has said Elon Musk's SpaceX satellite broadband service failed to demonstrate it…

The Federal Communications Commission (FCC) has rejected Starlink’s application for $885 million in federal subsidies that it would use to provide satellite internet to broadband customers in rural areas. The FCC states that the SpaceX-owned company’s dish is simply too expensive and that Starlink “failed to demonstrate” that it “could deliver the promised service.” The funding is part of the broader $9.2 billion Rural Digital Opportunity Fund that provides an incentive for telecom companies to extend internet service…

Starlink can't count on a flood of government subsidies to help expand its satellite internet service. The FCC has rejected the SpaceX unit's bid to receive $885.5 million in aid through the Rural Digital Opportunity Fund. The broadband provider "failed to demonstrate" that it could deliver the claimed service, according to a statement. FCC chair Jessica Rosenworcel said Starlink had "real promise," but suggested her agency couldn't justify 10 years of subsidies for "developing technology" that requires a $600 satellite…

Nigeria’s upstream petroleum regulator has contradicted a statement by the Presidency announcing President Muhammadu Buhari’s approval of Seplat Energy’s acquisition of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Monday the matter was a regulatory one and nothing had changed after it had earlier notified ExxonMobil the transaction had been declined. “The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) affirms that…

Twitter Inc recently dismissed Elon Musk's claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact." Musk made the claims in a countersuit filed under seal last Friday, which was made public on Thursday. "According to Musk, he - the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers - was hoodwinked by Twitter into signing a $44 billion merger agreement. That story is as…

Twitter on Thursday dismissed Elon Musk's claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact."Musk made the claims in a countersuit filed under seal last Friday, which was made public on Thursday."According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion (roughly Rs. 3,37,465 crore) merger agreement.…

The Association of Nigerian Electricity Distributors (ANED) has rejected the federal government’s decision to restructure electricity distribution companies in the country. It added that the government failed to fulfil its N100 billion subsidy and other privatisation promises made since 2013. The executive director, research and advocacy, Sunday Oduntan, disclosed in a statement. At least five companies, including Abuja DisCo, Benin DisCo, Ibadan DisCo, Kaduna and Kano DisCos, have been taken over by the banks…

The World Health Organisation (WHO) today declared the global spread of monkeypox a Public Health Emergency of International Concern (PHEIC), even though a special advisory committee has declined, again, to recommend the action. This is the first time since the PHEIC system was created in 2005 that the agency has made such a declaration without the panel’s endorsement.   “This is big, unprecedented decision-making by the director general,” says Clare Wenham, a global health expert…