After a persistent excess resulted in sustained losses in the technology giant’s core business in the June quarter, despite a reduction in production, Samsung Electronics signalled on Thursday a modest worldwide chip demand recovery. “Looking to the second half of the year, the (memory chip) market is expected to gradually move toward stability considering increasing…
On Tuesday, Alphabet said that its second-quarter profit had above Wall Street estimates and that Ruth Porat, the company’s longtime CFO, would take on a new job while it searched for a new finance head. The consistent demand for Alphabet’s cloud services and an uptick in advertising contributed to its success. After-hours trading saw an…
Despite an increase in revenue and per-vehicle transaction prices, General Motors said on Tuesday that adjusted pre-tax profit and margins in its important North American market decreased from the first quarter. The company is also having difficulty producing more electrified vehicles. In midday trade, shares were down 4.4% at $37.58. The automaker increased its full-year…
A person with firsthand knowledge of the situation told Reuters that Tesla executives are scheduled to meet with India’s commerce minister this month to discuss plans to create a factory to make what the company has billed as an all-new $24,000 automobile. According to the source, Tesla has expressed interest in developing a plant in…
The “Basel III endgame,” a comprehensive plan for stronger bank capital requirements aimed at ensuring the viability of large banks, will be unveiled by US banking regulators later this week. Regulators have stated that the rules will apply to banks with $100 billion or more in assets, though specifics are still unknown. They are anticipated…
After recognising that advertisers have been hesitant to return, Twitter Inc. owner Elon Musk gave a signal on Sunday that he would do more to steer the social media firm in a new direction with a makeover that would replace its well-known blue bird logo with an X. The adjustment was made as a result…
The number two U.S. oil major, Chevron Corp, reported second-quarter earnings that above Wall Street expectations on Sunday. Chief Executive Michael Wirth also indicated that the company is still open to new acquisitions and raising shareholder payments this year. Chevron revealed a $6 billion net profit for the three months ended June 30 in a…
The World Health Organisation issued a warning on Friday that dengue fever infections might nearly reach record levels this year, in part because climate change is helping the mosquitoes that carry the disease. According to WHO, dengue rates are rising globally, with recorded cases increasing eight-fold since 2000 to 4.2 million in 2022. According to…
Late on Thursday, India prohibited the exports of non-basmati white rice, the latest step in the country’s fight against skyrocketing food costs. According to the Ministry of Consumer Affairs, the prohibition will “allay the rise in prices in the domestic market” and ensure “adequate availability” of non-basmati white rice in India. More than 40% of…
The world’s largest contract chipmaker, TSMC, warned of a 10% decline in 2023 sales and delayed the start of production at its first plant in Arizona, sending its stock down more than 3% on Friday. Taiwan Semiconductor Manufacturing Co. Ltd.’s shares outperformed a 1.65% decline in the larger index in early trade. As the effects…
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