Intel Corp on Wednesday said its chip contract manufacturing division will work with U.K.-based chip designer Arm Ltd to ensure that mobile phone chips and other products that use Arm’s technology can be made in Intel’s factories. Once the biggest name in chips known as central processing units (CPUs), Intel has seen long seen its […]
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Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion) in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, cannot be overturned. Although parliament’s upper house earlier on Wednesday retrospectively approved the measures, the lower house rejected them for the […]
Major global currencies including the U.S. dollar were steady on Wednesday ahead of U.S. inflation data which investors will scrutinise for clues as to when the Federal Reserve could end its rate hiking cycle. The March inflation reading, due at 1230 GMT, is forecast to come in at 5.2% year on year, down from 6.0% […]
Deutsche Bank is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany’s biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations in […]
Twitter Inc CEO Elon Musk said on Wednesday the social media company is “roughly breaking even,” as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs. Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp […]
The U.S. arm of cryptocurrency exchange Binance said it will remove digital asset tokens TRON and Spell from its trading platform, sending the prices of both down sharply on Wednesday. Binance.US said the move was the result of a periodic review and that factors it regularly considers can include trading volume and liquidity, changes in […]
A former Deutsche Bank AG investment banker has been charged in an indictment unsealed on Tuesday with misappropriating funds from investors whom he wooed with promises of big returns from cryptocurrency trading. Rashawn Russell, 27, of Brooklyn, solicited investments from friends and colleagues but used the funds for gambling and other personal expenses, federal prosecutors […]
Group of Seven (G7) advanced economies will consider how best to help developing countries introduce central bank digital currencies (CBDC) consistent with appropriate international standards, Japan’s top currency diplomat Masato Kanda said on Tuesday. The move will be among key themes of G7 discussions that Japan chairs this year, as part of efforts to address […]
The House of Representatives is set to vote next week on a bill to crack down on Chinese telecommunications companies Huawei and ZTE Corp that have been deemed security threats by the U.S. government. The House said on Tuesday it will take up a bipartisan bill called the Countering Untrusted Telecommunications Abroad Act that would […]
Apple Inc said on Tuesday it doubled its financial commitment to a fund it had established two years ago to invest in projects that remove carbon from the atmosphere. The iPhone-maker said it will invest up to an additional $200 million in its Restore Fund, which was created in 2021 with an initial $200 million […]