In a statement U.S. Commerce Secretary Gina Raimondo said, the Biden Administration plans on spending $52 billion to mitigate issues revolving around the supply of semiconductors subject to the U.S Congress passing a bill funding such efforts.
A shortage of auto parts, including that of semiconductor chips for cars, has forced the Japanese automaker Toyota Motor Corp to stop production of vehicles since earlier this week at three of its manufacturing plants in Thailand, said the Japanese auto major Thursday. The auto company said in a statement that vehicle production at its…
There was a surge in demand from customer primarily in the United States as people took top the new menu items of the company, including cheeseburger and chicken taco pizzas, which helped Domino’s Pizza Inc to comfortable beat analysts’ estimates for revenue and profit for the second quarter. The strong performance of the company…
British payments start-up Currencycloud is to be acquired by Visa, the payments company said Thursday. This is the second major fintech firm acquisition this year by Visa. Visa said that the acquisition had valued Currencycloud at £700 million ($962 million). At the beginning of 2020, an $80 million investment in Currencycloud had been led by…
The maker of Mercedes-Benz vehicles Daimler AG expects the global shortage of semiconductor chips to hit the car sales of the company till the second half of the current year and even into the next year. However the auto company did not change its outlook for its profit margins for the current year. A global…
In a joint statement Amadeus and IBM said, the former will integrate IBM’s digital health pass into its Traveler ID platform. The move will simplify the verification of passengers’ health credentials during the boarding process, said the companies on Thursday. Ever since the pandemic began, the tourism industry, along with the aviation and tech sectors…
According to a report from Nikkei on Wednesday, Apple Inc will come out with its 5G-enabled iPhones in the first half of 2022. Cupertino will also revamp its budget handset after for the first time in two years. Apple will start selling a 5G version of iPhone SE in the first half of 2022, said the…
In a report the Telegraph said, British ministers have cut off funding to Britain’s biggest microchip factory following its sale to a Chinese-owned technology company. UK Research and Investment (UKRI) has suspended funding to Newport Wafer Fab following government instructions after it was sold to China’s Nexperia. Earlier this month, when asked whether the sale…
The Swiss multinational investment bank and financial services company UBS reported a 63 per cent surge in its net profits for the second quarter as it comfortably beat analysts’ expectations with buoyant markets continued to aid the company to generate higher earnings from managing money for the super wealthy, said the largest wealth manager of…
The global shortage of auto chips prevented Sweden’s truck maker AB Volvo from fully capitalising by producing more truck to cater to the strong demand for its vehicles during the second quarter and consequently the truck maker warned of further production disruptions and stoppages for the rest of this year because of the chip shortage.…
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