Qualcomm Accuses Arm of Antitrust Violations and Restricting Chip Technology Access

Qualcomm's Antitrust Campaign Against Arm

• ⚖️ Qualcomm has initiated a global antitrust campaign against its primary supplier, Arm Holdings.
• 🚫 The company alleges that Arm is restricting access to its technology, which has historically operated as an open network for over two decades.
• 🎯 These new restrictions are reportedly designed to bolster Arm's own chipmaking ambitions.

Arm's Response and Qualcomm's Motivation

• 🗣️ Arm has characterized Qualcomm's allegations as a desperate attempt to deflect from the merits of an ongoing commercial dispute.
• 📈 Qualcomm's move is seen as a strategy to gain a competitive advantage.

Phillips 66 Proxy Fight

• 🤝 Phillips 66 is expected to nominate two new board members amidst a proxy fight with activist investor Elliot Management.
• 📰 The oil refiner plans to announce four nominees for election, including two current and two new members, according to The Wall Street Journal.
• 🏛️ This development follows a lawsuit filed by Elliot Management against Phillips 66, seeking to ensure four board seats were up for election.
• ⚖️ Elliot Management stated it would withdraw its suit if Phillips 66 confirmed at least four director seats would be up for a vote.