Finance
Intel CEO Expresses Frustration Over Delayed Chip Act Funding
October 28, 2024 – According to a report by The New York Times, Intel CEO Pat Gelsinger has expressed “frustration” over the delay in disbursement of funds from the U.S. government under the Chips and Science Act. Gelsinger and U.S. Commerce Secretary Gina Raimondo recently sat for an interview to discuss issues related to the…
Elon Musk Rebuts Allegations of Illegal Work Status in Initial US Startup
October 28, 2024 – Elon Musk has refuted reports that he worked illegally in the United States during the early stages of his entrepreneurial career. These allegations, which circulated widely over the weekend, contradicted Musk’s recent political statements regarding illegal immigration. According to a Saturday report by The Washington Post, Musk did not have a…
Intel Taps Navid Shahriari as New Head of Process Technology Development
October 26, 2024 – According to a report by Oregon Live, Intel has notified its employees on Wednesday local time that Navid Shahriari has been selected to succeed Ann Kelleher as the head of the Technology Development (TD) department. In a statement, Intel clarified, “Ann is not leaving. Given the significance of Technology Development, we…
NVIDIA CEO Jensen Huang to Visit Thailand in December, Investment Plans to be Announced
October 24, 2024 – Pichai Naripthaphan, the Thai Minister of Commerce, revealed to Bloomberg on the 21st of this month that Jensen Huang, CEO of NVIDIA, is scheduled to visit Bangkok, the capital of Thailand, in December. During this visit, Huang is expected to announce the company’s investment plans in the country. While Pichai Naripthaphan…
Boeing Strike Persists as Workers Decline Latest Contract
October 24, 2024 – Following a rejection of a new labor contract proposal by Boeing machinists on Wednesday, the costly strike, which has halted the production of some of the troubled company’s best-selling aircraft and led to the layoff of thousands of workers, is set to continue for several more weeks. The International Association of…
Western Digital Faces $315.7M Penalty for Data Encryption Patent Infringement
October 20, 2024 – According to a report by Reuters, a jury in a California federal court has ordered Western Digital to pay $315.7 million in damages for infringing on a data encryption patent held by SPEX Technologies. The patent, originally developed by Spyrus Inc., pertains to data encryption technology for PCMCIA and Compact Flash…
ASML’s Shares Tumble as Third-Quarter Results Disappoint, Losing Top European Tech Valuation
October 18, 2024 – Dutch lithography giant ASML has experienced a significant drop in its share price following the premature leakage of its financial report, which indicated a substantial decline in performance. The company’s stock plummeted by 15.6% on October 15th and further fell by 5.1% on the 16th, closing at 633.9 euros. Consequently, ASML…
German States Pledge to Avert Volkswagen Factory Closures and Layoffs
October 17, 2024 – In a significant development on Tuesday, four German federal states – Lower Saxony, Saxony, Hesse, and Berlin – have vociferously opposed the closure of Volkswagen factories and layoffs within their jurisdictions, according to Eurasia Daily. A jointly signed document by the states’ economic ministers stated, “All factories must remain fully intact.”…
Negotiation Stalemate: Boeing Rescinds 30% Wage Hike Offer to Strikers
October 10, 2024 – In a move that has escalated tensions, aerospace giant Boeing has withdrawn its wage increase proposal to striking workers, citing a breakdown in negotiations with union representatives. The company has placed blame on the union for not giving due consideration to its offer. The International Association of Machinists and Aerospace Workers…
Apple Veteran Dan Riccio Bows Out, Leaving Vision Pro as His Swan Song
October 10, 2024 – Bloomberg reports that Dan Riccio, a longtime Apple employee, is set to retire from the company later this month, marking the end of a 26-year career. Riccio, who most recently served as the Vice President of Engineering overseeing the development of Vision Pro, reported directly to Apple CEO Tim Cook. His…