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Southeast Asia Internet Economy Forecast Cut on Economic Headwinds

Southeast Asia’s internet economy is expected to be worth $330 billion by 2025, though this a downgrade from a previous forecast due to economic uncertainty and more pressure on tech companies to make a profit, an industry report said on Thursday. The annual report, by Alphabet’s Google, Singapore state investor Temasek Holdings and global business […]

Exclusive-Tesla Faces U.S. Criminal Probe Over Self-Driving Claims-Sources

Tesla Inc is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s driver assistance system Autopilot, […]

Samsung Defies Chip Downturn With Aggressive Supply and Capex Plans

Samsung Electronics said on Thursday its supply of memory chips will grow faster than its peers and its investments will proceed as planned, bucking the broader industry move to scale back output and spending amid growing recession fears. Samsung’s apparent confidence indicates it intends to use a sharp and sudden downturn in worldwide tech demand […]

China’s Huawei Slows Its Long Decline Under U.S. Sanctions as Revenues Improve

China’s Huawei Technologies reported modest revenue growth for a second quarter on Thursday, citing steady growth in its ICT infrastructure business as it finds its footing after U.S. sanctions knocked its once mighty handset business. Huawei posted revenue of 445.8 billion yuan ($62.03 billion)for the first three quarters, 10 billion yuan less than it saw […]

China Chip Imports Drop 12.4% Year-On-Year in September - Govt Data

China’s chip imports fell 12.4 percent in September, according to official customs data published on Monday, continuing a decline amid tensions with the United States and an ongoing chip shortage. The country imported 47.6 billion chip units during the month, compared with 54.3 billion units in September 2021, according to the data, which had been […]

Archer Aviation Plans to Build 250 Air Taxis in 2025

Archer Aviation Inc said it aims to make about 250 battery-electric air taxis in 2025 and scale up production in the following years, after setting a goal of getting its aircraft certified by the end of 2024. “In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third […]

Exclusive-China’s Catl Slows Battery Investment Plan for U.S., Mexico-Sources

Chinese battery giant CATL has slowed its planning for investment in battery plants in North America on concern that new U.S. rules on sourcing battery materials will drive costs higher, two people with knowledge of the matter sa The world’s largest battery maker, which supplies one of every three electric vehicles, has been considering opening […]

Meta Refuses to Give Up on Campaign to Disqualify FTC Chair

Meta Platforms Inc has almost no chance of barring the chair of the U.S. Federal Trade Commission, Lina Khan, from participation in the FTC’s challenge to Meta’s planned acquisition of virtual reality content developer Within Unlimited Inc. But that has not stopped Meta from continuing to wage a campaign for Khan’s disqualification, as evidenced most […]

Digital Ad Market Shows ‘Signs of Life’ but Economy Clouds 2023 Outlook

When Snap Inc kicks off the third-quarter earnings season for tech and social media companies on Thursday, investors are expecting modest revenue growth across most of the sector as results will be compared with a difficult 2021 when Apple Inc privacy changes began to upend the advertising industry. But a possible recession next year makes […]

Snap’s Slowing Ad Growth Sends Inflation Fears Through Tech Sector

Snap Inc on Thursday forecast no revenue growth in the typically busy holiday quarter, sending a warning signal that rising inflation and the war in Ukraine could hurt other tech companies dependent on advertising revenue. Shares of Snap dropped 27 percent in after-hours trading. The owner of photo messaging app Snapchat is the first of […]