European shares fell as much as 2 percent on Friday, dragged down by auto and technology stocks, amid prospects of higher interest rates and geopolitical tensions in Ukraine. The pan-European STOXX 600 was down 1.4 percent, paring some losses after falling as much as 2 percent earlier in the day, and on track for its […]
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Samsung, the South Korean electronics giant, revealed a new record in its 2021 fourth quarter (Q4), marking an annual operating profit of $42.9 billion and $232.4 billion in revenue. Compared to its third-quarter (Q3) revenue, Samsung hit a whopping $11.5 billion in operating profit and $63.6 billion in revenues. The heightened capital for the electronics […]
In September 2021, the U.S. Department of Commerce (DOC) issued a Request for Information (RFI) to collect data concerning the intensively heightened chip shortage following the Covid-19 pandemic. In its findings, the DOC revealed that it is expecting the chip shortage to last another six months, well into mid-2022. The RFI’s report evidenced that the […]
Market research and consulting firm, iko Partners, publicized a new report unveiling that the Kingdom of Saudi Arabia’s (KSA), the United Arab Emirates (UAE), and Egypt’s gaming market valuation will reach $3.14 billion by 2025. Specializing in video games, esports, and streaming, iko presented data around the Middle East’s gaming sector state is typically confined […]
The U.S. House of Representatives will soon introduce a bill to increase U.S. competitiveness with China and boost federal spending on semiconductors, Speaker Nancy Pelosi said on Friday as the Biden administration seeks to boost domestic chip production. “The House will soon introduce its competitiveness bill,” she said in a note to Democratic colleagues. The […]
Intel Corp. announced on Friday plans to pump at least $20 billion in what could be its latest chip-manufacturing facility in Ohio to increase its chip-making production to accommodate the heightened semiconductor demand for digital units. The Santa-Clara-based company will invest in two semiconductor-making plants outside Columbus, Ohio. This will place the company in the […]
Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20 percent and wiping away most of its remaining pandemic-fueled gains from 2020. Netflix projected it would add 2.5 million customers from January through March, less than half of the 5.9 million analysts had forecast. […]
The Nasdaq’s loss on Wednesday left it down nearly 11 percent from its November record high close, marking the fourth time in the nearly two years since the coronavirus pandemic shook global markets that the tech-heavy index has found itself in a correction. The index of over 3,600 stocks traded on the Nasdaq exchange has […]
Wall Street’s main indexes were set to open lower on Tuesday as technology stocks were slammed by rising Treasury yields, while Goldman Sachs led declines among big banks after posting its quarterly profit below expectations. Two-year Treasury yields, which track short-term rate expectations, crossed 1 percent for the first time since February 2020 amid traders […]
Orange and Engie said they have teamed up to convert Groupement Orange Services (GOS), Orange’s primary data center in Africa, to solar power, helping to cut the carbon footprint in Cote d’Ivoire. As such, the GOS will provide the eighteen Orange Middle East and Africa (OMEA) subsidiaries with combined hosting and infrastructure operation services, platforms, and IT. […]