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Fiat Chrysler proposes 50-50 merger with Renault – TechCrunch

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Fiat Chrysler Automobiles has proposed merging its business with Renault that, if accepted, would create the third largest global automaker with 8.7 million in annual vehicle sales.

FCA delivered Monday a non-binding letter to Renault’s board that proposes combining the business as a 50-50 merger. FCA’s proposal illustrates the growing desire among automakers to consolidate, or form partnerships, in an environment of increasing regulatory pressure, declining sales and rising costs associated with next-generation technologies such as autonomous vehicle technology.

Under the proposal, the combined businesses would be split equally between FCA and Renault shareholders. The board would be a combined entity of 11 members, FCA said. The majority would be independent. FCa and Renault would get equal represent with four members each as well as one nominee from Nissan. The parent company would be listed on the Borsa Italiana in Milan, Euronext in Paris and the New York Stock Exchange.

French automaker Renault has an alliance with Nissan Motor. The two companies, whose relationship has become stressed in the fallout over the arrest of former Renault-Nissan Alliance CEO Carlos Ghosn and subsequent power struggle, share vehicle parts and collaborate on technology. Renault owns 43.4 percent of Nissan. Nissan owns 15 percent of Renault.

Fiat Chrysler is best known in U.S. for the company behind the Jeep and Ram trucks. But its business is far larger. Fiat, which has a market value of $20 billion, is also one of Italy’s oldest companies and owns brands like Alfa Romeo, Fiat, Lancia, and Maserati.

Fiat acquired a stake in Chrysler in 2009. The FCA people know today — which employs nearly 200,000 people — was created when the companies merged in 2014.

The proposed merger would result in cost savings. However, FCA insists it would not come from plant closures. No factories would close as a result of the merger, FCA said in its proposal. In a release describing the proposal FCA states:

The benefits of the proposed transaction are not predicated on plant closures, but would be achieved through more capital efficient investment in common global vehicle platforms, architectures, powertrains and technologies.

The combined companies would realize more than 5 billion euros in estimated annual run rate savings by collaborating on products and in certain regions, particularly when it comes to the development and commercialize of new technologies. FCA noted that these areas included connectivity, electrification and autonomous driving.

FCA argued that is has a history of “successfully combining OEMs with disparate cultures to create strong leadership teams and organizations dedicated to a single purpose.”

Those cost savings will be crucial for both companies if there’s a downturn in sales — a reality that other automakers like GM and Ford are already preparing for. It would also allow the companies to pursue technologies such as advanced driver assistance systems and autonomous vehicles.

FCA, which operates 46 research and development centers, has invested in advanced driver assistance systems like its highway assist feature offered in its Maserati brand. It has also relied on partnerships such as the one with self-driving vehicle company Waymo .

Last year, the company announced an expanded partnership with Waymo that will add up to 62,000 more Chrysler  Pacifica minivans to Waymo’s self-driving car fleet. The two companies are also working on ways to license Waymo’s self-driving car technology in order to deploy the tech in cars for consumers.

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Apple Unleashed: Everything we can expect

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Slightly over a month after its September event, Apple is set for an “Unleashed” October event. This second product launch of the fall on October 18 is scheduled a day before Google’s much-anticipated Pixel event. Strategically timed or not, the Apple event is not going to have any competitive iPhones to show. The highlight of the “Unleashed” event will be the new MacBook Pros powered by an upgraded in-house processor.

Once again, it wouldn’t be an in-person event; it will be livestreamed from Apple’s Cupertino headquarters for the world to follow. It will kick off at 10am Pacific Time on Monday, which is unusual, since Apple products are generally released on Tuesdays. To an extent, this is cleverly timed to hog up Google’s limelight.

Apple as we know has already launched iPhone 13 lineup along with the Apple Watch Series 7 and new iPads, it is exciting to understand what is in store for the latest launch event. We are definitely going to see the upgraded ARM-based M1 chipset – likely called M1X – which will find its way into the revamped MacBook Pros, in the Mac Mini, and maybe a larger iMac.

Perhaps, there is no concrete information about the M1X Macs but a recent leak does confirm the possibility of long-rumored AirPods 3 to join the party. The new AirPods were earlier expected to release along with the new iPhones, that hasn’t happened, so we are hopeful the earbuds will make an appearance on Monday.

How to watch the event?

Before we delve deeper into the expected products, let’s run through how you can watch the event live. In case you miss the livestreaming, we will be covering the product launches as and when they happen here on Slashgear.

The “Unleashed” event will be streamed live on Apple’s website or on the Apple TV app. It will also be aired on the Apple channel on YouTube, so you can tune in to your preferred medium at 10am PT on October 18.

The revamped MacBook Pro

The next-generation Apple processor designed specifically for the Mac is expected to get more than just an incremental upgrade. The M1 chip launched last year has proven its worth with powerful features and incredible efficiency. The chipset revolutionized the MacBook Pro in 2020; in 2021, the processor with upgraded performance and efficiency will power the notably distinct MacBook Pro beyond ordinary expectations.

When Apple introduced the M1 chip, it informed that the transition from Intel to Apple’s own silicon will take about “two years” to complete. Into the second year now, we expect the journey is almost complete and the potent new chipset is ready. It can replace the Intel processing in the larger-screen MacBook Pro and take the performance of the smaller Pro to an exciting new high.

Actually, two MacBook Pro variants are launching this year. The 13.3-inch model from the previous year goes out and a resized 14-inch MacBook Pro will debut, which is likely to arrive alongside a 16-inch model. Since both the variants will run on the same graphics-enhancing M1X processor, Apple may deliver two separate options of its SoC for either MacBook. The difference may be in the GPU and storage variants.

Besides the incredible processing, the MacBook Pro is for the first time in five years allegedly receiving a redesign in line with the trusted form factor of the iPhone 13. The flat-edge design that launched with the iPhone 12, will add a nice appeal to the new MacBook Pro that will arrive without the Touch Bar but a 1080p webcam.

The laptop is also likely to arrive with mini-LED panel boasting 120Hz refresh rate. There is a chance it will feature a thinner bezel and include slots for SD card and HDMI. The MagSafe charging is allegedly making a comeback to the Apple MacBook Pro.

AirPods 3

The probable launch of AirPods 3 is a rumor that doesn’t seem to settle. Whenever we discuss the pre-launch expectation of an Apple event the next-generation AirPods invariably pop up in discussion. The much-anticipated earbuds might launch this time after failing us in September when they should have logically arrived with the iPhones.

The redesigned, entry-level AirPods 3 are likely to launch with a shorter stem and a wireless charging case, similar to the AirPods Pro. There have been leaks suggesting them with silicone ear tips. Despite how close they get to the AirPods Pro, the third-gen AirPods will be an affordable alternative without ANC.

The final thoughts

In the lead-up to the second fall event, there have been half-baked stories about a few other probabilities. Notable Apple analyst Mark Gurman thinks a high-end Mac Mini powered by the improved in-house chip is on the cards. Announcement of a release date for the company’s macOS Monterey is also likely at the event. The desktop operating system was previewed at the WWDC 2021, albeit a small update, it will still be exciting to know a possible date for its release.

This is more or less what we can expect. Apple however has a knack for pulling out the unexpected, so we’ll only know what’s what on Monday when Apple goes Unleashed. There could be some surprises but 14 and 16-inch MacBook Pros powered by M1X SoC is going to be the biggest highlight.

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Tinder’s latest feature helps users find dates for in-person weddings

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If taking a total stranger as your plus one to a wedding doesn’t sound like a bad idea to you, Tinder is back with a new feature that’ll make the entire process easier. The company has announced a feature called Plus One that, as you’d expect, lets users alert others that they’re looking for a date to take to a wedding.

Tinder announced its new Plus One feature on Thursday, stating that it has teamed up with WeddingWire to help users find someone to take as a date to a wedding. The feature is available in the app’s Explore section, ensuring users are able to make their particular needs known to others who may want to tag along.

The team-up with WeddingWire, meanwhile, is to launch a ‘Wedding Guest Grant’ giveaway that’s now live. With this, the first 100 people to join the Plus One section in Explore will get $460 toward the cost of a wedding — the average amount WeddingWire says people spend to show up as guests.

Many in the industry are bracing for an anticipated onslaught in weddings later this year and through 2022. The reason is — you guessed it — because of the wedding postponements that occurred in 2020 and most of 2021 due to the pandemic.

The combination of readily available vaccines in many places, as well as cheap rapid COVID-19 tests and loosened travel restrictions, have made in-person weddings a safer option again. According to Tinder, it has seen the number of users adding “plus one” to their profiles increase 45-percent since the start of 2021.

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Steam Blockchain games ban: Good news for NFT and crypto alike

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An update to Valve’s rules for games on Steam effectively bans all Blockchain games that use cryptocurrencies or NFTs. This is GOOD news if you’re a cryptocurrency or NFT holder, at the moment, as it represents another public acknowledgement of the real-world value of cryptocurrencies and NFTs alike.

It’s not clear yet if this means that any sort of game using ANY sort of blockchain tech will be removed – but it DOES stop all blockchain-based digital tokens from playing a part in games on Steam. Information was shared by the folks behind the game Age of Rust, a game that’s built with blockchain tech that allows the exchange of NFT in accordance with puzzle solving gameplay.

SEE TOO: What is NFT? (for the crypto-newb)

If we’re looking at the situation from the perspective of the developers of a game like Age of Rust, this is certainly a setback. It might just be a temporary setback, but it IS a setback. These developers will need to find a new way to distribute their games – which might mean they need to work with less well-known game hosting platforms.

The developers of Age of Rust suggested that Valve told them that “Steam’s point of view is that items have value and they don’t allow items that can have real-world value on their platform.” So if you were wondering if a company as big as Valve considered those bits of code you were earning in your games to have any value outside of the games you’ve been playing… there’s your answer.

Now it’ll be interesting to see the point at which Valve must acknowledge the difference between in-game cryptocurrency and NFT exchange and in-game purchases, and whether there’ll be any further distinction between the two in future updates to Steam’s set of rules for hosted games. Given Steam’s use of tradeable achievement cards, tokens, and the like, it would not be shocking to find Valve incorporating non-fungible tokens (NFTs) into their platform at a higher level in the near future.

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