MACH08

In 'unprecedented' global chip slump, SK Hynix to halve investment as recession looms

In ‘unprecedented’ global chip slump, SK Hynix to halve investment as recession looms

Investment cut comparable to 2008-09 financial crisis Q3 profit plunges 60%, misses estimates Inflation, gloomy economic outlook weigh on demand SEOUL, Oct 26 (Reuters) – South Korea’s SK Hynix Inc (000660.KS) warned on Wednesday of an “unprecedented deterioration” in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly …

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Biden awards $2.8 billion to boost US minerals output for EV batteries

Biden awards $2.8 billion to boost US minerals output for EV batteries

WASHINGTON, Oct 19 (Reuters) – The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost US production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China. Albemarle Corp (ALB.N) is among the 20 manufacturing and processing …

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Biden hops into Corvette, declares Detroit 'back' at EV-focused auto show

Biden hops into Corvette, declares Detroit ‘back’ at EV-focused auto show

Register now for FREE unlimited access to Reuters.com Register DETROIT, Sept 14 (Reuters) – President Joe Biden took a victory lap on Wednesday at the Detroit auto show as he highlighted automakers’ electric-vehicle push, including billions of dollars in investments in battery plants, on the back of new government support. Self-declared “car guy” Biden climbed …

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Oil rises 4% on supply threats, still set for weekly drop

Oil rises 4% on supply threats, still set for weekly drop

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann Register now for FREE unlimited access to Reuters.com Register Oil benchmarks heading for second weekly decline Putin threatens to cut off all energy supplies Fed’s Waller: need aggressive rate hikes now while the …

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Arm sues Qualcomm, aiming to unwind Qualcomm's $1.4 billion Nuvia purchase

Arm sues Qualcomm, aiming to unwind Qualcomm’s $1.4 billion Nuvia purchase

Qualcomm logo is during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay Register now for FREE unlimited access to Reuters.com Register SAN FRANCISCO, Aug 31 (Reuters) – Chip technology firm Arm Ltd, which is owned by Softbank Group Corp ( 9984.T ), on Wednesday said it had sued …

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Europe braces for more cuts in Russian oil and gas exports

Europe braces for more cuts in Russian oil and gas exports

An interior view shows a new pumping station of the Caspian Pipeline Consortium (CPC) near the city of Atyrau, Kazakhstan October 12, 2017. REUTERS/Maria Gordeyeva Register now for FREE unlimited access to Reuters.com Register CPC says two of three mooring points (SPM) suspended One SPM can handle less than 70% of terminal capacity – sources …

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As Japanese manufacturing fades, a factory town fights to stay alive

As Japanese manufacturing fades, a factory town fights to stay alive

HIGASHIOSAKA, Japan Aug 22 (Reuters) – The small factories in the western Japanese city of Higashiosaka for decades fueled the thundering rise of the country’s biggest brands – but a weak yen and rising costs have accelerated a slow decline, and are reshaping the industrial heartland . Home to about 6,000 firms, 87% of which …

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Toyota unit falsified emissions data from at least 2003, probe finds

Toyota unit falsified emissions data from at least 2003, probe finds

Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Center at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File Photo Register now for FREE unlimited access to Reuters.com Register Committee publishes report on false data scandal at Hino Says engineers did not feel …

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US considers crackdown on memory chip makers in China

US considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protects US companies. If President Joe Biden’s …

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