Intel has postponed a planned investment in Vietnam that could have roughly doubled the U.S. chipmaker’s facility there, dealing a blow to the nation’s expanding aspirations in the semiconductors industry, according to reports based on information from sources briefed on the plans. The centre of Southeast Asian electronics manufacturing, which houses Intel’s largest chip assembly, packaging,…
The Milan prosecutors’ office announced on Monday that an Italian judge had ordered the seizure of 779.5 million euros, or $836.40 million, from the European headquarters of the short-term rental website Airbnb, which is located in Ireland, due to suspected tax evasion. Prosecutors in the northern Italian city stated in a statement that the investigation…
Beijing will welcome the American semiconductor company expanding its market share in China, the Chinese minister of commerce informed the president of Micron Technology Inc., signalling a further warming of ties between the two largest economies in the world. According to a brief statement posted on the commerce ministry’s website on Friday, Commerce Minister Wang…
This week, BMW executives predicted solid sales for the fourth quarter and stated that their order book was full through the first few months of the following year. They added that they did not see the need to lower pricing, unlike some of its competitors. As supply chain bottlenecks lessened, vehicle availability improved, but higher…
Apple’s shares fell almost 3% in after-hours trading after the company released a Christmas quarter sales estimate that fell short of Wall Street’s projections due to the lacklustre demand for iPads and wearables. Tim Cook, the company’s CEO, emphasised that the new iPhone 15 models were performing well in China in an effort to allay…
The largest apparel retailer in the world, Inditex, which owns Zara, announced on Friday that its suppliers would purchase 2,000 metric tonnes of a raw material produced by Swedish business Renewcell from waste cotton textile. One of the first textile-to-textile recycling companies on a commercial scale in the world, Renewcell assists apparel merchants in substituting…
In the first three quarters of 2023, revenue at China’s Huawei Technologies increased somewhat. The firm attributed this increase to development in its cloud and digital power businesses as well as the increasing competitiveness of its vehicle components division. For the first three quarters of the year, Huawei reported revenues of 456.6 billion yuan ($62.4…
Ahead of government price talks for its best-selling cancer treatment Imbruvica, AbbVie announced on Friday a $2.1 billion charge associated with anticipated revenue declines following the implementation of the new price for Medicare patients in the United States. With a declared government objective of saving $25 billion annually on drug costs by 2031, the Illinois-based…
Boeing’s defence division is more difficult to turn around than management had thought. This year, the company lost $1.7 billion on projects including NASA’s Starliner capsule and the future Air Force One, mostly due to supplier failures and excessive manufacturing costs. Executives said that by taking on $4.4 billion in losses in 2022, the company…
Chip maker Intel exceeded Wall Street projections for its fourth-quarter revenue and margins, citing a robust resurgence in personal computer sales, progress in its data centre division, and an expanding clientele interested in its manufacturing capabilities. Although Nvidia continues to put intense pressure on Intel in the data centre processor market, the company’s server chip…
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