Nvidia Said to Be Ready to Acquire ARM Holdings from Softbank for $40bn (25% over Original Purchase Price)

This would conclude a four-year holding period for Masayoshi Son, the deal hinging on the recent conclusion of a dispute between Arm and the head of its China joint venture, Allen Wu. Softbank payed $32bn for ARM back in 2016 (shortly after the UK voted to leave the EU).  To facilitate the deal, Softbank also reversed a move to strip out the IoT component of ARM. Nvidia recently overtook Intel to become the world's most valuable chipmaker.

BP Goes Big with Offshore Wind in Equinor Partnership

 BP is investing 50% into two large US based offshore wind projects with Equinor, its first foray into offshore wind, paying Equinor $1.1 bn for its share of existing assets and to enter into the partnership.  BP has a stated aim to develop 50GW of renewable power by 2030. Bernard Looney, CEO for BP (an Irish citizen who started at BP in 1991 as a drilling engineer) stated that this is an important step in its journey to become an "integrated energy company" highlighting that "Offshore wind is growing at around 20% a year globally and is recognized as being a core part of meeting the world’s need to limit emissions"

Jane Fraser to Lead Citi

Scotland-born Jane Fraser, who has worked for Citi for 16 years, is to lead the bank when Michael Corbat (who has been CEO since 2012) retires in February. One of his mission statements was to simplify Citi.

Michael has formerly presided over Citi's wealth management unit as well as the non-core businesses under Citi Holdings where he divested more than $500bn of assets.