Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation, cooling demand and escalating supply chain issues partly due to lockdowns in China. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a severe shortage of chips like other global manufacturers, […]
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Blue tungsten winking from the walls of abandoned mine shafts, in a town that’s seen better days, could be a catalyst for South Korea’s bid to break China’s dominance of critical minerals and stake its claim to the raw materials of the future. The mine in Sangdong, 180 km southeast of Seoul, is being brought […]
European shares hit two-month lows on Monday, led by miners as investors fretted over a sharp economic slowdown in China due to prolonged COVID-19 curbs, while surging bond yields kept technology stocks under pressure. The pan-European STOXX 600 index dropped 1.2 percent to touch its lowest since March 10. Miners fell 2.8 percent as Chinese […]
The shift to electric cars may pose an existential threat to suppliers of combustion engines but for auto parts firms such as TE Connectivity the challenge is keeping up with demand. It makes the connectors that link miles of cables in cars to all things electrical, from sensors to fuel injection systems to infotainment – […]
Major global stock indexes fell on Thursday under pressure from crucial U.S. inflation data, falling technology shares and rising benchmark bond yields. U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial market speculation for a 50 basis points interest rate hike from […]
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 […]
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 […]
To help make China a self-reliant “technology superpower,” the ruling Communist Party is pushing the world’s biggest e-commerce company to take on the tricky, expensive business of designing its own processor chips — a business unlike anything Alibaba Group has done before. Its 3-year-old chip unit, T-Head, unveiled its third processor in October, the Yitian […]
India on Wednesday announced a $10.2 billion plan to try to attract global chipmakers to set up shop in the country and transform it into a production hub of semiconductors. The plan unveiled by Information Technology and Telecom Minister Ashwini Vaishnaw comes amid a severe shortage of semiconductors caused by the COVID-19 pandemic, which has […]
Carmaker Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands, hoping the tech upgrade will help it bring in 20 billion euros ($22.6 billion) in annual revenue by 2030. CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into […]