Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, December 11th. I'm Julie Morgan.

GM is shifting focus. Bosch and Lome may not have a buyer, and Microsoft shareholders say no to Bitcoin.

General Motors is realigning the development of Robotaxies and will pivot to focus on autonomous driving for personal vehicles only. As a result of the realignment, the automaker will halt funding of its Cruise Robotaxy Division,

combining the teams and technology associated with crews into a

single effort with GM technical teams. GM CEO said in a statement that GM is committed to delivering

the best driving experiences to their customers in a disciplined and capital-efficient manner.

The restructuring is expected to save the company

$1 billion annually after the proposed plan is completed, which is expected to occur in the first

half of 2025. The decision to end funding into the majority-owned cruise division was due to the

considerable time and resources necessary to scale the

business along with an increasingly competitive robotaxy market. If you remember, last

week Google announced plans to expand its autonomous vehicle unit Waymo into the Miami metropolitan

area through a new fleet partnership with Move.

As part of the decision surrounding Cruise, GM will raise its ownership in the company to 97%

from its current 90% by acquiring remaining shares.

Contingent upon the repurchase of these shares in Cruz's board approval, GM will work with the

cruise leadership team to restructure and refocus operations. Bosch and Lome is down 9%

pre-market after a report that private equity firm Blackstone may drop out of a group bidding

for the I-Care company. According to a Financial Times report on Tuesday,

which cited people familiar with the matter, Blackstone may no longer be interested in being

part of a joint bid with PE firm TPG for Bosch and Loam, due to the seller's high price expectations.

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