Chipmaker titan Intel has recently removed from an annual letter directed to suppliers information referenced to China’s Xinjiang region following criticism for demanding suppliers to steer clear from the region. Only last month, the U.S.-based company was criticized on social media platforms in China for the letter sent to suppliers – published on the company’s […]
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Wall Street’s main indexes tumbled on Monday with Nasdaq leading the declines as technology stocks dropped on expectations of a sooner-than-expected rate hike that pushed U.S. Treasury yields to fresh two-year highs. While the Nasdaq pared its losses in the afternoon session it had earlier fallen as much as 10.37 percent below its intraday record […]
Foxconn, Apple Inc’s supplier, announced it would reopen its iPhone facility on January 12, in Southern India, according to Reuters. Late Friday, Tamil Nadu Chief Minister M K Stalin informed the state assembly for the area that the plant will resume work on Wednesday of this week, according to K Selvaperunthagai, a member of the assembly. […]
The European Union plans to legislate in the coming months to require technology companies to do more to tackle child sexual abuse, beefing up current voluntary arrangements, a top official said in a newspaper interview. EU Home Affairs Commissioner Ylva Johansson told Germany’s Welt am Sonntag that internet service providers and social media firms had […]
Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday. Reddit had confidentially filed for an IPO in December and is aiming […]
The United States and Japan on Friday voiced strong concern about China’s growing might and pledged to work together to push back against attempts to destabilize the region, including against emerging defense threats. The comments from the two allies, in a joint statement that followed a virtual “two-plus-two” meeting of their foreign and defence ministers, […]
U.S. stock index futures were mixed on Thursday, with economy-linked banking and energy shares leading gains, while interest rate-sensitive growth names remained under pressure from the Federal Reserve’s hawkish signals. The tech-heavy Nasdaq plunged more than three percent on Wednesday, its biggest one-day percentage drop since February, while the Dow slipped from an intra-day record […]
Facebook’s parent company, Meta, submitted an appeal to the UK competition watchdog ruling forcing the tech giant to sell the recently acquired company, Giphy, under the pretense that it removed a potential advertising rival. In December 2020, the Big Tech giant appealed against the Competition and Markets Authority (CMA) for prohibiting the acquisition, after it […]
In a region fraught with controversy, Tesla has opened a new dealership in China, Xinjiang, the same area where the Chinese government was accused of human rights violations against the Uyghur Muslim minority. This move strangely comes just after U.S president Joe Biden signed the Uyghur Forced Labor Prevention Act to protect said minority from […]
Samsung Electronics Co Ltd is likely to post a record fourth-quarter profit thanks to solid demand for server memory chips and higher margins in contract manufacturing, analysts’ estimates showed. Operating profit for the world’s biggest memory chip and smartphone maker likely hit 15.2 trillion won ($12.7 billion) in the quarter ended December, according to a […]