The global semiconductor chip shortage will cost automakers $110 billion in revenue this year, according to consulting firm AlixPartners. Auto parts supplier Aptiv Plc said the previous day it expects higher costs due to pandemic-related supply chain problems to spill into the next year. Chipmaker Qualcomm Inc said on Thursday it had offered to buy Veoneer Inc for $4.6 billion, an 18.4% premium to a bid in July by Canada's Magna International Inc that was accepted by Veoneer's board. Veoneer has said its board would evaluate the proposal from Qualcomm and the terms of the Magna merger agreement. Magna's revenue for the year is now expected to be between $38 billion and $39.5 billion, compared with a previous forecast of $40.2 billion to $41.8 billion. Magna reported net income attributable of $424 million, or $1.40 per share, in the quarter ended June 30, compared to a loss of $647 million, or $2.17 per share, a year earlier.