Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers, the carmaker’s board member in charge of technology said. Its strategy aligns with a wider trend of carmakers seeking greater control over parts of the supply chain traditionally left to […]
Search results for "big tech"
Business leaders from Japan and South Korea pledged on Friday to work more closely on chips and technology, seeking to put behind years of acrimony over wartime history that have stoked South Korean public anger. South Korean President Yoon Suk Yeol met executives from both countries in Tokyo as he makes the first visit there […]
Hong Kong-listed shares in China’s Baidu rebounded 15.7% on Friday as users told of their experiences with the Ernie bot, recouping losses from a day earlier prompted by the chatbot’s launch, which failed to impress. On Thursday, viewers of the Chinese search engine giant’s presentation panned the company’s lack of a live demonstration and a […]
Canada’s main stock index closed higher on Thursday, rebounding from initial losses on news that First Republic Bank received $30 billion in deposits from several big banks as part of a rescue package. Shares of First Republic and other banks have slumped on fears of a contagion after the collapse of SVB Financial Group and […]
Microsoft Corp on Thursday trumpeted its latest plans to put artificial intelligence into the hands of more users, answering a spate of unveilings this week by its rival Google with upgrades to its own widely used office software. The technology company previewed a new AI “Copilot” for Microsoft 365, its product suite that includes Word […]
Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said on Wednesday. The new auctions show how the FDIC is making a concerted effort to return the lenders to the […]
ABB is expanding its main US robot factory as its customers there in the automotive, packaging and machinery industries confront a tight labour market as they bring production back home. The Swiss engineering company, which competes with Japan’s FANUC and Germany’s Kuka, is spending $20 million boosting capacity at its Auburn Hills site in Michigan […]
Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have tapped investment bank Piper Sandler Companies to relaunch the auction of failed lender Silicon Valley Bank, people familiar with the matter said on Wednesday. The development shows how the FDIC is preparing a concerted effort to sell Silicon Valley Bank (SVB) after regulators took it […]
Apple Inc supplier Foxconn on Wednesday said it plans to ramp up investment outside of China and efforts to attract automakers to its contract manufacturing business, as the company reported weaker demand for consumer electronics. Foxconn, which assembles around 70% of iPhones, has been diversifying production away from China, whose strict COVID restrictions disrupted its […]
South Korea’s willingness to resolve historical disputes in the name of improving relations with Japan is largely driven by concerns over North Korea’s growing capabilities, and managing any rivalry with China, officials and analysts say. South Korean President Yoon Suk Yeol will visit Tokyo on Thursday for a summit with Prime Minister Fumio Kishida, the […]