Advertisement
Canada markets close in 3 hours 3 minutes

  • S&P/TSX

    21,845.77
    -27.95 (-0.13%)
     

  • S&P 500

    5,034.74
    -36.89 (-0.73%)
     

  • DOW

    38,006.76
    -454.16 (-1.18%)
     

  • CAD/USD

    0.7313
    +0.0015 (+0.21%)
     

  • CRUDE OIL

    82.57
    -0.24 (-0.29%)
     

  • Bitcoin CAD

    88,022.12
    -514.36 (-0.58%)
     

  • CMC Crypto 200

    1,385.98
    +3.40 (+0.25%)
     

  • GOLD FUTURES

    2,341.80
    +3.40 (+0.15%)
     

  • RUSSELL 2000

    1,971.23
    -24.19 (-1.21%)
     

  • 10-Yr Bond

    4.6960
    +0.0440 (+0.95%)
     

  • NASDAQ

    15,550.66
    -162.09 (-1.03%)
     

  • VOLATILITY

    16.54
    +0.57 (+3.57%)
     

  • FTSE

    8,078.86
    +38.48 (+0.48%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6808
    -0.0011 (-0.16%)
     
MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Britain and India's Bharti win auction for OneWeb satellite company

Reuters
Updated ·1 min read

LONDON, July 3 (Reuters) - Britain has joined forces with India's Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging $1 billion between them to develop a fleet of low earth orbit satellites to boost broadband and other services.

Under the deal announced on Friday, Britain will invest $500 million and take a significant equity share in OneWeb while Bharti will invest the same amount and provide commercial and operational leadership.

The deal is subject to a U.S. court approval and regulatory clearances, and is expected to close before the end of the year, the government said in a statement.

(Reporting by Kate Holton; editing by Guy Faulconbridge)