In its plan to pump investments into the Middle East, Chinese telecommunications giant Huawei revealed Tuesday plans to create a cloud region in the Kingdom of Saudi Arabia (KSA). The move, which will play a fundamental role in expanding the company’s influence in the Middle East, will bring forth more support to local businesses and […]
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Automakers, including General Motors, Ford Motor and Hyundai Motor, predict a near two-year chip constraint will ease in the second half of 2022, but automotive chipmakers, on the other hand, expect a recovery to take longer. During their quarterly results reporting over the past two weeks, GM CEO Mary Barra projected the semiconductor shortage would […]
The U.S. House of Representatives was expected to pass on Friday a multibillion-dollar bill aimed at increasing American competitiveness with China and boosting U.S. semiconductor manufacturing, despite Republican opposition. The Democratic-majority House is expected to back the “Competes Act” largely along party lines. Passage would send the measure for negotiations with the Senate on a […]
Semiconductor company Qualcomm Inc. revealed one of its most robust quarterly earnings for 2022’s first quarter (Q1), showing high demand for smartphones and cars chips. “Demand remains strong across all of our technologies and continues to exceed supply,” Cristiano Amon, Qualcomm Chief Executive Officer (CEO), said during an analysts call, adding that supply shortages are […]
Toshiba Corp said on Friday it will invest about 125 billion yen ($1.09 billion) to more than double production of power management semiconductors, aiming to catch up with power chip giants such as Infineon Technologies AG. The Japanese industrial conglomerate will build a cutting-edge 300-millimeter fabrication plant in central Japan for power management chips, which […]
Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings. Meta’s stock fell 26 percent, erasing more than $200 billion in the biggest ever single-day market […]
Following Washington’s decision to ban China Unicom from providing service in the U.S., Beijing has condemned the move as baseless, vowing to protect its operations’ “legitimate rights and interests” in the U.S. market. The U.S. Federal Communications Commission (FCC) made a bold move to revoke the Chinese-backed telco’s license, prohibiting it from delivering further services […]
Shares in Facebook owner Meta fell 20 percent in U.S. premarket trade on Thursday after the social media giant issued a dismal forecast, blaming Apple’s privacy changes and increased competition. The shock drop, which comes before Amazon earnings later in the day, spilled over to Europe where technology led sectoral fallers with a decline of […]
Global stocks rallied on Wednesday to close higher as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over weak economic reports. Investors also shrugged off the pace of central banks’ interest rate hikes. The STOXX index of 600 European companies rose 0.45 percent, up for a […]
ABB expects supply chain shortages to remain a drag on growth at the start of 2022, the Swiss engineering group said on Thursday, after posting fourth-quarter earnings that were better than expected. The maker of fast chargers for electric vehicles and industrial drives for factories reported a jump of 18 percent in orders as demand […]