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October 22, 2021

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Nasdaq set for lower open after Intel’s margin warning

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2021. REUTERS/Brendan McDermid Snap tumbles on Apple tweak, drags social media giants AmEx rises on profit beat Futures: Nasdaq down 0.19%, Dow up 0.17%, S&P up 0.07%, Oct 22 (Reuters) –......

Stellantis powers up electric plans with Samsung SDI U.S. deal

Reuters
A Stellantis sign is seen outside the company’s headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo Follows similar deal with battery maker LGES JVs to provide up to 80 GWh annual battery capacity Stellantis aims for over 40% of U.S. sales from EVs Group targets global......

Intel shares sink as chipmaker predicts lower margins in years ahead

Reuters
Visitors are seen at the Intel booth during the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. Picture taken July 30, 2021. REUTERS/Aly Song/Files Oct 21 (Reuters) – Intel Corp (INTC.O) on Thursday forecast lower profit margins for years to come as......

Western Digital talks to merge with Kioxia stall – sources

Reuters
A Western Digital office building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake/File Photo Oct 21 (Reuters) – Western Digital Corp’s (WDC.O) talks to merge with Japanese chipmaker and partner Kioxia Holdings Corp have stalled over the last few weeks, two people familiar with the matter told......

EXCLUSIVE Huawei, SMIC suppliers received billions worth of licenses for U.S. tech

Reuters
WASHINGTON, Oct 21 (Reuters) – Suppliers to Chinese telecoms giant Huawei and China’s top chipmaker SMIC got billions of dollars worth of licenses from November through April to sell the firms goods and technology despite being on a U.S. trade blacklist, documents released by Congress and seen by Reuters showed......

EV truck maker Rivian plans in-house battery cell manufacturing

Reuters
The Rivian R1T all-electric truck is pictured at an event, held by the electric vehicle startup, for customers who preordered the truck, in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino/File Photo/File Photo SAN FRANCISCO, Oct 1 (Reuters) – Electric truck maker Rivian Automotive, which currently sources batteries from......

Malaysia’s help needed to ease global chip shortage, Taiwan says

Reuters
A 12-inch wafer is seen at Taiwan Semiconductor Manufacturing Co. (TSMC) in Hsinchu June 15, 2010. REUTERS/Pichi Chuang TAIPEI, Oct 1 (Reuters) – Malaysia’s help is needed to resolve the global shortage of auto semiconductors, especially when it comes to packaging, a sector affected by the country’s COVID-19 curbs, Taiwan......

Foxconn strikes deal to acquire former Lordstown Ohio plant

Reuters
A Lordstown Motors beta version of its all electric pickup truck, the Endurance, is seen at the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File Photo WASHINGTON/DETROIT, Sept 30 (Reuters) – Global technology firm Foxconn will buy an assembly plant owned by U.S. electric vehicle startup......

U.S. trade officials delay decision on new solar tariffs

Reuters
Solar panels are seen at the Desert Stateline project near Nipton, California, U.S. August 16, 2021. Picture taken August 16, 2021. REUTERS/Bridget Bennett/File Photo Sept 29 (Reuters) – The U.S. Commerce Department on Wednesday asked a group of anonymous domestic solar manufacturers for additional information before it would consider a......

Samsung Electronics close to finalising $17 bln Texas chip plant -sources

Reuters
SEOUL/SAN FRANCISCO, Sept 29 (Reuters) – Samsung Electronics Co Ltd (005930.KS) is close to finalising the construction of a $17 billion semiconductor factory in Williamson County in the U.S. state of Texas, three people with knowledge of the matter said. Samsung told Reuters that it is continuing due diligence in......

ASML hikes financial forecasts, sees sales of $28-35 bln by 2025

Reuters
AMSTERDAM, Sept 29 (Reuters) – ASML Holding NV (ASML.AS), one of the key suppliers to computer chip makers, increased its financial forecasts on Wednesday and said it would have revenue growth of around 11% annually through 2030 amid booming demand for its products. In a pre-market statement, the company estimated......

Amplitude valued at $5 bln after shares jump in Nasdaq debut

Reuters
Sept 28 (Reuters) – Shares of Amplitude Inc (AMPL.O) opened nearly 43% above their reference price in their Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the Benchmark-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at......

Netflix buys first video game studio, rolls out mobile games

Reuters
The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson Sept 28 (Reuters) – Netflix has bought video game creator Night School Studio and rolled out five mobile gaming titles in select European markets, the company said on Tuesday, as it......

ASMI plans expansion as it sees more interest in chips

Reuters
To expand sites in Finland, United States, South Korea Sees annual revenue of 2.8-3.4 bln euros by 2025 Lifts Q3 order intake guidance to over 600 mln euros Sept 28 (Reuters) – Dutch semiconductor equipment maker ASM International (ASMI.AS) plans to step up innovation and production, it said on Tuesday,......

Analysis: Huawei CFO’s admissions won’t help U.S. in its case against the company -legal experts

Reuters
Sept 28 (Reuters) – The admission by Huawei’s chief financial officer that she misled a bank about the company’s business dealings in Iran likely won’t help the United States as it continues to prosecute Huawei for the same charges. While Meng Wanzhou’s admissions last week go to the heart of......

U.S. citizens blocked from leaving China return home after three years

Reuters
Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang/File Photo WASHINGTON, Sept 27 (Reuters) – Two American siblings prevented from leaving China since 2018 returned to the United States over the weekend, according to a U.S. official, their release......

U.S. citizens blocked from leaving China return home after three years

Reuters
Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang/File Photo WASHINGTON, Sept 27 (Reuters) – Two American siblings prevented from leaving China since 2018 returned to the United States over the weekend, according to a U.S. official, their release......

U.S. to open program to replace Huawei equipment in U.S networks

Reuters
A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai, China February 23, 2021. REUTERS/Aly Song/File Photo WASHINGTON, Sept 27 (Reuters) – The U.S. Federal Communications Commission (FCC) on Monday said it would open a $1.9 billion program to reimburse mostly rural U.S. telecom carriers for removing......

Some Apple, Tesla suppliers suspend production in China amid power pinch

Reuters
Sept 27 (Reuters) – Several Apple Inc (AAPL.O) and Tesla Inc (TSLA.O) suppliers have suspended production at some Chinese factories for a number of days to comply with tighter energy consumption policies, putting supply chains at risk in the peak season for electronics goods. Two major Taiwanese chipmakers, however, said......

China welcomes Huawei executive home, Trudeau hugs Canadians freed by Beijing

Reuters
SHENZHEN, China/TORONTO, Sept 25 (Reuters) – Huawei Chief Financial Officer Meng Wanzhou arrived in China on Saturday, ending her near three-year U.S. extradition fight, the same day two Canadians detained by Beijing for more than 1,000 days returned home, potentially paving the way for improved ties between China and the......

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