Apr 3, 2017

The potential bidding war over Toshiba's memory chip unit


U.S. tech giants Apple, Google and Amazon are all said to be interested in joining the bidding for Toshiba's memory chip unit. According to the Yomiuri Shimbun, the three tech firms are interested in entering the already crowded field of bidders.

Japan's Nikkei reported on Friday that Silver Lake Partners and Broadcom had teamed up on an $18 billion offer for the unit. Other potential bidders inlcude Western Digital, Micron Technology and SK Hynix.

Why it matters: While neither Apple, Google nor Amazon comes to mind when one thinks of players in memory chips, all have big needs for flash memory, either in consumer products like phones and tablets or for servers in data centers, or both.

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House Democrats lose appeal to force McGahn testimony

Photo: Alex Wong / Staff

Democrats in the House lost an appeal to force former White House Counsel Don McGhan to comply with a subpoena, Politico was the first to report.

Why it matters: McGahn was seen as a crucial witness in the House investigation into whether President Trump tried to obstruct the Mueller inquiry. The U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 on Friday that it court did not have the authority to resolve the dispute between the executive and legislative branches.

The Americans who can't hide from coronavirus

Illustration: Eniola Odetunde/Axios

The stock markets are in bad shape, but for the millions of Americans who aren’t invested in stocks, coronavirus is presenting a far more imminent concern.

Why it matters: Quarantines usually work with at least 90% participation, but many Americans lack the flexibility to work remotely, take a sick day or absorb having schools close.

Go deeperArrow29 mins ago - Health

Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat