Newspaper chain Tronc Inc. (NASDAQ: TRNC) bought the New York Daily News for $1 plus the assumption of a number of liabilities. It gives the chain papers in the three largest markets because it owns the Los Angeles Times and Chicago Tribune
United Technologies Corp. (NYSE: UTX) bought Rockwell Collins Inc. (NYSE: COL) for $30 billion in cash and stock. The deal is the largest in the history of the aerospace industry. It also creates a giant in the airplane parts and defense suppliers markets.
Rovio Entertainment Oy, which produces the wildly popular “Angry Birds” online game, has set an initial public offering. It will go public on the stock exchange in Finland.
Lego posted poor earnings and said it would cut 8% of its workforce, or 1,400 people. Until recently it was one of the hottest game manufacturers in the world.
Lilium Aviation, which plans to make flying cars, raised $90 million according to The New York Times. The largest investor in the round was Tencent, the huge China online company.
Elon Musk said that the race for dominance in global artificial intelligence could start Word War III. The head of Tesla Inc. (NASDAQ: TSLA) said, according to CNBC:
Elon Musk has made an ominous warning about artificial intelligence (AI), suggesting it could be the cause of a third world war.
His comment was in response to Russian President Vladimir Putin who said Friday that the first global leader in AI would “become the ruler of the world.”
“China, Russia, soon all countries w strong computer science. Competition for AI superiority at national level most likely cause of WW3 imo (in my opinion),” the Tesla and SpaceX CEO tweeted Monday.