Digitally Generated ImagesWong Yu Liang | Moment | Getty ImagesThe Biden administration is rolling out new export controls on critical technologies, including quantum computing and semiconductor goods, as China makes advances in the global chips industry.Released by the U.S. Department of Commerce on Friday, the rules cover quantum computers and components; advanced chipmaking tools; some components and software related to metals and metal alloy; as well as high-bandwidth chips, a critical component for AI applications.The department cited “national security and foreign policy reasons” for the move, and said it was the product of extensive discussions with international partners.These restrictions cover…
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This picture taken on May 1, 2024 shows professors and students looking at a Minimal Fab, a small-scale semiconductor factory that does not require a clean room, at Tokyo University in Tokyo. (Photo by Yuichi YAMAZAKI / AFP) (Photo by YUICHI YAMAZAKI/AFP via Getty Images)Yuichi Yamazaki | Afp | Getty ImagesJapanese semiconductor equipment providers have been counting on China as their largest source of revenue, even as they have got caught in the U.S.-China crossfire.Japanese semiconductor equipment powerhouse Tokyo Electron with a market cap of nearly $72 billion, saw its share of China revenue jump to 44% in financial year…
Customers exit a 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kobe, Japan, on Friday, Aug. 30, 2024. Alimentation Couche-Tard Inc. had made a preliminary non-binding proposal to buy Seven & i, which operates more than 85,000 stores across the globe, and the deal would be the biggest-ever foreign takeover of a Japanese company. Photographer: Soichiro Koriyama/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesSeven & i Holdings has rejected the takeover offer from Canadian convenience store operator Alimentation Couche-Tard, saying the offer “is not in the best interest” of its shareholders and stakeholders.In a filing with…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Nemil Dalal, product lead of the Coinbase Developer Platform, discusses Coinbase’s first AI-to-AI crypto transaction. Source link
Once recognized by the world as a picturesque and progressive safe haven, New Zealand’s frail economy has pushed many of its citizens to leave the country.Amid high prices, steep interest rates and elevated unemployment, the government recently estimated that 131,200 people fled the country in the past 12 months through June, a record high. Among those, about 80,200 were citizens, nearly 70% higher compared to the year ended June 2019, before the pandemic.Wilson Ong, 32, who works as a manager and buyer in New Zealand’s fashion retail industry, has seen many of his friends leave, and he’s planning to join them.”For…
This picture taken on Feb. 16, 2024 shows a logo of Nippon Steel Corp. at the company’s Kyushu manufacturing base in Kitakyushu city of Fukuoka Prefecture. U.S. President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of U.S. Steel, a person familiar with the matter said on Wednesday, pushing the U.S. company’s stock nearly 13% lower on bets the deal could face greater political opposition.Philip Fong | Afp | Getty ImagesNippon Steel’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, construction and agriculture projects,…
KANSAS CITY, Mo. — Minutes after celebrating their place in NFL history, they were scrambling in terror.Every prominent member of the Kansas City Chiefs — Andy Reid and his coaching staff, general manager Brett Veach, quarterback Patrick Mahomes, tight end Travis Kelce and their teammates — left the stage in front of Union Station and headed back into the grand hall. It was the city’s parade to honor their Super Bowl LVIII victory, the first NFL team to successfully defend a championship in almost two decades.Minutes later gunshots sounded; the team and the thousands of fans celebrating on an unseasonably…
People walk through a Manhattan mall on July 05, 2024 in New York City. Spencer Platt | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayHiring’s shrinkingPrivate sector companies hired 99,000 workers in August, according to payroll company ADP. That’s the lowest figure in more than three-and-a-half years, and sharply lower than the expected 140,000. Payroll reports by ADP often diverge from…
Instead of high-net-worth individuals, C-suite executives in China are increasingly using business jets, said Paul Desgrosseilliers, general manager at ExecuJet Haite General Aviation Services. The company opened a new service center at Beijing Daxing International Airport on Aug. 27, 2024.ExecuJet HaiteBEIJING — China’s wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants.This year, there’s been a “very significant” trend of requests from Chinese family offices that want to acquire smaller businesses in Japan, said Ryota Kadogaki, co-founder and global CEO of…
Broadcom reported an earnings beat Thursday, driven by strong sales of its AI products and VMware software. But management’s guidance for the current quarter disappointed investors, sending shares of the chipmaker down nearly 7% in the after market. This is too harsh of a reaction to an otherwise solid print. Revenue increased 47% year over year to $13.07 billion, beating analysts’ forecasts of $12.97 billion, according to estimates compiled by LSEG, formerly Refinitiv. Excluding the contribution from VMWare, Broadcom’s sales rose 4% year over year. Adjusted earnings per share (EPS) grew 18% from last year to $1.24, which exceeded expectations…
