The German government on Wednesday blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing. The government said it had vetoed the takeover of the chip factory of the Dortmund-based company Elmos by Silex, a Swedish company that is […]
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Indonesia plans to move the regulation, supervision and oversight of cryptocurrency investments to the Financial Service Authority (OJK) to better protect investors, its finance minister said on Thursday. Currently, the Trade Ministry and the Commodity Futures Trading Regulatory Agency jointly oversee cryptocurrency in Southeast Asia’s largest economy, where there has been a boom in such […]
Meta Platforms Inc on Wednesday became the latest U.S. company to cut jobs to rein in costs amid tightening monetary policy and growing fears of a recession. Job cuts announced by U.S.-based employers jumped 13 percent to 33,843 in October, the highest since February 2021, a report said. Here are some of the major job […]
Crypto giant Binance signed a nonbinding agreement on Tuesday to buy FTX’s non-U.S. unit to help cover a “liquidity crunch” at the rival exchange, in a stunning bailout that raised fresh concerns among investors about cryptocurrencies. The deal between high-profile rivals Sam Bankman-Fried, FTX’s CEO, and Binance CEO Changpeng Zhao came as speculation about FTX’s […]
Taiwan Semiconductor Manufacturing Co Ltd is preparing for another multibillion-dollar factory investment in Arizona in the United States, the Wall Street Journal reported on Wednesday, citing sources. TSMC, a major Apple Inc supplier and the world’s largest contract chipmaker, plans to announce in the coming months that it will build a cutting-edge semiconductor plant north […]
The cryptocurrency industry has spent millions of dollars on U.S. midterm election races during a year of heavy losses and upheaval in the sector, which hopes to gain sway among legislators as Congress debates tighter regulation of digital assets. Crypto evangelists view 2023 as a critical year for regulation, with Congress expected to make progress […]
Walt Disney Co missed Wall Street earnings forecasts on Tuesday as the entertainment giant racked up more losses from its push into streaming video, sending its shares tumbling 9 percent. The company gained more streaming customers than analysts had expected from July through September, but media investors have increasingly focused on profits over streaming subscription […]
As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. A Tesla shareholder is seeking to rescind Musk’s 2018 pay deal, claiming the board set […]
The dollar steadied during Asia trade on Tuesday after some of the momentum ebbed out of bets on China’s reopening, and as traders looked ahead to U.S. midterm elections. The yuan had its best day in two years on Friday, and has held most of those gains since, but gave back a little bit through […]
It’s no joke. Elon Musk’s acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame. Dogecoin’s price doubled after the Tesla tycoon completed the $44 billion deal. It was trading at about $0.07 on Oct. 27 before Musk tweeted “the bird is freed” to announce his […]