Founder of Taiwan’s chip revolution to retire from TSMC
Although a succession plan is ready and analysts no change in the company’s profitability, however, new emerging technologies could potentially see a spike in TSMC’s costs, said analysts.
South Korea bans Initial Coin Offerings
The move mirrors similar announcements made by the U.S. and China where increased trading volumes of cryptocurrencies have sparked concerns. On Friday, South Korea’s financial regulator has stated it will ban the raising of funds through all forms of virtual currencies, including Initial Coin Offering, (ICO), in a move that mirrors China’s restriction on initial…
Tesla’s wind powered battery solution for South Australia on track for deployment by Dec. 1
South Australia’s power blackout could be history thanks to Tesla’s “Hollywood solution”. Almost a year after South Australia suffered a major blackout, it has started building the world’s biggest battery to help keep its electricity grid on and humming in what is being slated as Australia’s most wind-dependent state. With Tesla winning the bid to…
To Counter China’s CRRC, Alstom, Siemens To Merge Rail Businesses
Creating a European champion to better withstand the international advance of China’s state-owned CRRC, German industrial group Siemens and French rival Alstom agreed to merge their rail operations. While Alstom will supply Henri Poupart-Lafarge as chief executive, helping to counter criticism that France is giving up control of another national industrial icon, Siemens will own 50 percent plus a…
Apple’s devices to have Alphabet Inc’s Google has Siri’s default search engine
Google’s gain is Microsoft’s loss. Microsoft will now focus on increasing Bing’s footprint in the PC market. Satya Nadella, Microsoft Corp’s CEO, said Bing, the company’s search engine, will focus on expanding its footprint in the PC market as opposed to the mobile market. The announcement comes in the wake of Microsoft losing its deal…
Bipartisan deal paves legislation for self-driving vehicles for U.S. roads
The upcoming legislation is part of a bipartisan deal that is aimed at easing the entry of self-driving vehicles on U.S. roads. Late on Wednesday, two U.S. senators disclosed that a bipartisan deal had been hammered out on legislation aimed at easing out the hurdles for getting self-driving vehicles to the market. As per Senator…
Fines on global banks are likely to touch $400 billion by 2020
Financial misconduct by global banks, since the 2008 financial crisis, has led to the writing-off of $850 billion in profits for the world’s top 50 banks. As per a research report released on Wednesday, since the 2007-2009 financial crisis, European and U.S. regulators have imposed $342 billion in fines on banks, resulting from violations of…
Toshiba under heightened pressure to find a closure of its sale of NAND chip business
Toshiba is now facing pressures from Apple Inc, which is demanding new terms on supply of chips in return for funding. On Wednesday, SK Hynix Inc stated its board had approved its participation in a Bain Capital-led consortium that plans to purchase Toshiba Corp’s memory chip unit for $17.7 billion (2 trillion yen) . As…
Uber Says It Can Improve, Even While It Fights For Survival In London,
In a desperate bid to retain its license od operating in London, Uber has pledged to make improvements in the way it reports serious incidents and called for holding talks with London’s transport regulator. Deeming Uber to be unfit to run a taxi service in the mega city, the British capital’s transport regulator decided not…
The EU surges ahead in its bid to find a common tax base across its member states
With the world’s richest nations dragging their feet on ways to find a common solutions on how to tax digital companies, including Facebook and Google, the European Commission has surged ahead in a bid to block some of the world’s wealthiest companies to exploit existing tax regulations to their favor. On Tuesday, U.S. companies operating…
