Reported 16 days ago
The Dutch government has taken control of Nexperia, a Chinese-owned chip company, following pressure from the US amid escalating US-China tech tensions. This intervention arose after American officials indicated that Nexperia's CEO, Zhang Xuezheng, would need to be replaced for the company to escape restrictions imposed by the US entity list, which targets firms deemed threats to national security. The move reflects broader geopolitical issues impacting the semiconductor industry, with both the US and China implementing export controls that complicate international operations for Nexperia.
Source: YAHOO
Reported 16 days ago
Source: YAHOO
Reported 16 days ago
Source: WSJ
Reported 16 days ago
In response to the damaging effects of Trump's trade wars, Brazil's President Lula da Silva and India's Prime Minister Modi are strengthening ties and exploring new markets to mitigate U.S. tariffs. Their partnership, aimed at tripling trade from $12 billion, focuses on sectors like agribusiness and defense, as both leaders navigate economic challenges posed by the U.S. Additionally, this alliance reflects broader global trade realignments as they seek to reduce dependency on the U.S. while enhancing collaboration with other nations.
Source: YAHOO
Reported 16 days ago
Apple is lobbying the Indian government to amend its income tax laws, which currently impose taxes on the company's ownership of high-end iPhone manufacturing machinery. This issue is seen as a barrier to Apple's growth in India, where it is investing heavily and increasing market share. The company's representatives are in discussions with officials to address these tax concerns while India remains cautious about potentially altering its tax regulations.
Source: YAHOO
Reported 16 days ago
UK-based Nscale has entered into a significant agreement with Microsoft to supply 200,000 Nvidia AI chips for its data centers in Europe and the U.S. This partnership, conducted in conjunction with Dell Technologies, could potentially generate up to $14 billion in revenue. Additionally, Nscale will collaborate with Norway's Aker to provide around 52,000 Nvidia GPUs from its AI campus in Narvik. The company plans to start supplying these chips beginning next year and is set to expand its operations in Texas.
Source: YAHOO
Reported 16 days ago
Capita, a UK outsourcing firm, has been fined £14 million ($18.7 million) due to a 2023 cyber attack that compromised the personal data of 6.7 million individuals. The breach revealed the company's inadequate cybersecurity measures, prompting serious scrutiny from regulatory bodies. With rising pressures on UK firms following several high-profile breaches, Capita has improved its security protocols and anticipates a significant cash outflow for 2025.
Source: YAHOO
Reported 16 days ago
ASML's CFO, Roger Dassen, clarified that the expected drop in sales from China is not related to previous stockpiling of chip machines, emphasizing that the machines are actively used in chip manufacturing. The company anticipates a significant decrease in demand from China in the upcoming year, despite Chinese orders accounting for 42% of ASML's sales in the third quarter. Additionally, Dassen discussed ASML's preparedness for potential restrictions on imports of rare earth materials from China, highlighting the importance of trade continuity over the next few years.
Source: YAHOO
Reported 16 days ago
Source: WSJ
Reported 16 days ago
China's SiCarrier unit has introduced two new domestically developed electronic design automation (EDA) software products aimed at bolstering its semiconductor design capabilities. This move comes as part of China's ongoing effort to reduce reliance on foreign technology, particularly in the wake of U.S. export restrictions on chip design software. SiCarrier, closely linked to Huawei and backed by the Shenzhen government, aims to enhance China's self-sufficiency in critical technologies.
Source: YAHOO
Reported 16 days ago
President Trump has laid out key demands for China, focusing on rare earths, fentanyl, and soybeans, as he signed a deal with Australia to secure critical minerals amid ongoing trade tensions. The US is poised to impose an additional 100% tariff on Chinese goods as negotiations with China are set to resume, amidst widespread implications for both economies. This deal signals a strategic move ahead of upcoming talks with Chinese President Xi Jinping, while concerns remain over the fragile US-China trade relationship.
Source: YAHOO
Reported 16 days ago
Source: YAHOO
Reported 16 days ago
Japan's recent government bond auction demonstrated solid demand, with higher yields attracting investors despite the ruling coalition's political instability. The 20-year bond sale's bidding showed vitality, exceeding previous averages, signaling a potentially easing funding climate. Meanwhile, market participants remain cautious about the political landscape, which could impact future bond yields and central bank policies.
Source: YAHOO
Reported 16 days ago
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement to release $1.2 billion from a previously approved $7 billion bailout package aimed at preventing debt default. The agreement follows discussions in Islamabad and comes amidst the aftermath of devastating floods in Pakistan, which have emphasized the country's vulnerability to climate-related risks.
Source: YAHOO
Reported 16 days ago
US stocks saw a slight uptick on Wednesday as traders remained cautious amidst ongoing US-China trade tensions, buoyed by strong earnings reports from major banks. The Dow stayed nearly flat, while the S&P 500 increased by 0.4% and the Nasdaq Composite rose by 0.7%. Bank of America and Morgan Stanley reported significant profit increases, enhancing optimism for possible interest rate cuts following remarks from Federal Reserve Chair Jerome Powell. Despite market gains, concerns over trade conflicts and a looming government shutdown lingered.
Source: YAHOO
Reported 16 days ago
Source: BARRONS
Reported 16 days ago
Japanese e-commerce giant Rakuten is exploring an initial public offering (IPO) for its credit card division in the United States. This decision comes in light of the competitive landscape, particularly with rival SoftBank planning to list its app-based payment service. While Rakuten Card's considerations are still in the early stages, the company aims to capitalize on the thriving U.S. IPO market, which has seen increased activity recently.
Source: YAHOO
Reported 16 days ago
Lendable, a British consumer credit firm, has introduced a monthly mobile plan for £20, marking the UK's first foray into mobile services by a fintech. Founded in 2014, Lendable aims to create a 'super-app' ecosystem by moving into telecommunications, joining other fintechs like Revolut and Klarna. The plan offers unlimited 5G data, calls, and texts on Vodafone's network and is managed through their Zable app, which has 2 million users.
Source: YAHOO
Reported 16 days ago
OpenAI, currently generating $13 billion in annual revenue largely from ChatGPT subscriptions, faces a significant challenge to spend over $1 trillion in the upcoming decade. With recent deals for extensive computing capacity, the company is exploring diverse avenues including government contracts and consumer hardware to bridge the financial gap. The pressure mounts as major American companies rely on OpenAI for crucial contracts, which could have wider implications for the U.S. market if the company does not succeed.
Source: YAHOO
Reported 16 days ago
ASML, the leading supplier of chip-making equipment, announced that while strong investment in AI has boosted its orders to 5.40 billion euros in the third quarter, it anticipates a significant drop in demand from China next year due to U.S.-led export restrictions and a normalization after years of growth. Despite this, CEO Christophe Fouquet noted ongoing positive momentum around AI investments, which are expected to drive demand for both logic and memory chips.
Source: YAHOO
Reported 16 days ago
The U.S. government shutdown has halted the flow of crucial economic data, raising concerns among global policymakers who rely on this information for decisions impacting their currencies and trade. With the U.S. accounting for a significant portion of the world economy, the lack of reliable statistics is exacerbating uncertainties and increasing the risk of economic missteps. This situation is particularly critical as international finance leaders gather to address ongoing global challenges, highlighting the broader implications of data reliability and governance in the U.S.
Source: YAHOO
Reported 16 days ago
India's Bharti Airtel has partnered with IBM to integrate the tech giant's services into its new cloud platform, addressing the rising demand for computing power amidst advancements in AI and data storage regulations. The collaboration will enable Airtel Cloud users to access IBM's AI-ready servers for critical sectors like banking and healthcare, while also planning to establish new cloud facilities in Mumbai and Chennai to support localized data residency needs.
Source: YAHOO
Reported 16 days ago
Source: YAHOO
Reported 16 days ago
Most US stocks experienced an upward trend after navigating through another unpredictable trading day.
Source: YAHOO
Reported 16 days ago
Most U.S. stocks experienced an uptick following a tumultuous trading session on Wall Street, as reported in the latest financial headlines by the Associated Press.
Source: YAHOO