Finance
TSMC and Samsung Electronics Mull Large-Scale Wafer Fab Construction in UAE
September 23, 2024 – According to a report by the Wall Street Journal yesterday, both Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics have been exploring the possibility of building large-scale wafer fabs in the United Arab Emirates (UAE). The report indicates that the UAE is discussing an advanced semiconductor manufacturing complex, which could potentially…
Qualcomm to Lay Off 226 Employees in San Diego This November
September 21, 2024 – According to the San Diego Union-Tribune, Qualcomm is set to lay off 226 employees in San Diego later this year. The layoffs, effective during the week of November 12th (November 11th to 17th), were announced under the California WARN (Worker Adjustment and Retraining Notification) Act. The job cuts will impact staff…
After CrowdStrike’s ‘Global Thanos Snap,’ 10% of German Firms Opt for New Security Vendors
September 20, 2024 – According to a report published by theregister on September 19th, the German Federal Office for Information Security (BSI) has revealed that one out of every ten organizations in Germany has abandoned their current supplier’s products due to the CrowdStrike incident in July. The BSI released the findings of a survey conducted…
Major Acquisition: Luxshare Precision Pays 4.1 Billion Yuan for Leoni Group, a Top Player in Automotive Wiring Harnesses
September 20, 2024 – On September 17th, Leoni AG, a renowned manufacturer of automotive wire harnesses, signed a share purchase agreement with Chinese company Luxshare Precision. Under the terms of the agreement, Luxshare Precision will acquire 50.1% of Leoni Group’s shares and 100% of its wholly-owned subsidiary, Leoni Kabel (hereinafter referred to as “Leoni K”),…
Amazon Leads the Way: Ends Remote Work with New 5-Day Office Mandate
September 18, 2024 – According to a report by The New York Times, Amazon has informed its corporate employees that, effective January of next year, they will be required to return to the office for five days a week. This new policy marks an increase from the previous requirement of three days per week, which…
Intel to Deliver Custom Xeon 6 Processors for Amazon AWS
September 18, 2024 – According to a press release from both Intel and Amazon Web Services (AWS) on the 16th of this month, Intel will not only manufacture an AI fabric chip for AWS on the Intel 18A node, but will also provide customized server CPUs for the cloud computing giant. The announcement builds upon…
Sony PlayStation CEO Affirms: Game Consoles Stay Central, PC and Mobile Expansion On the Way”
September 18, 2024 – In a recent interview published by Nikkei on September 11th, Sony PlayStation’s Co-CEO Hideaki Nishino emphasized that despite the company’s efforts to expand its audience on PC and mobile devices, game consoles will remain the core of its business in the future. Addressing the value of game consoles, Nishino stated, “Mobile…
Morgan Chase in Advanced Talks to Acquire Apple Card Business from Goldman Sachs”
September 18, 2024 – According to a recent report published by The Wall Street Journal on September 17th, JP Morgan Chase is currently engaged in discussions with Apple, potentially taking over the Apple Card credit card business from Goldman Sachs. The report indicates that both parties are negotiating the specifics of a possible agreement. While…
Boeing Faces Strike as 94.6% of Workers Reject Tentative Labor Deal
September 13, 2024 – Boeing and its largest union, the International Association of Machinists and Aerospace Workers (IAM) 751, announced on September 8th that they had reached a tentative agreement on a new four-year contract, potentially averting a strike that could have significantly impacted the company’s aircraft manufacturing. However, according to a report by CNBC…
Amazon Introduces ‘Refund Only’ Option for US Sellers
September 13, 2024 – Amazon is broadening the options for third-party sellers to manage product returns. The company is now offering more choices to sellers who use its hosted Fulfillment by Amazon (FBA) service, including the option to not require customers to return selected items. Following the expansion of its services, Amazon’s US-based sellers can…