TEEQ08

Toyota cuts output target amid chip crunch as profit tumbles 25%

Toyota cuts output target amid chip crunch as profit tumbles 25%

Q2 profit 562.7 billion yen vs. 772.2 billion yen forecast Cuts FY production target to 9.2 million units from 9.7 million Unclear when the chip shortage will end – executive Results ‘very unimpressive’ considering positive factors -analyst Shares end down 1.9%, Nikkei benchmark up 0.3% TOKYO, Nov 1 (Reuters) – Toyota Motor Corp (7203.T) on …

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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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Dollar absorbs suspected yen intervention, China data mixed

Dollar absorbs suspected yen intervention, China data mixed

https://tmsnrt.rs/2zpUAr4 Dollar buffeted vs yen by suspected BOJ intervention Shares pare early gains as China markets ease China GDP beats forecasts but retail sales disappoint Stg flat as Boris Johnson bows out of PM race SYDNEY, Oct 24 (Reuters) – The US dollar weathered another suspected blast of Japanese intervention to push higher on the …

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Goldman plans major overhaul to combine key units - source

Goldman plans major overhaul to combine key units – source

Oct 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters. The plans, which are expected to be announced on Oct. 18 in conjunction …

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Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut

Meta’s new Quest Pro headset, mixing real and virtual worlds, makes debut

Oct 11 (Reuters) – Meta Platforms (META.O) unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg’s break into the higher-end market for extended reality computing devices. The headset, introduced at Meta’s annual Connect conference, will hit shelves on Oct. 25 at a price of $1,500, …

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US aims to hobble China's chip industry with sweeping new export rules

US aims to hobble China’s chip industry with sweeping new export rules

Oct 7 (Reuters) – The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with US tools, vastly expanding its reach in its bid to slow Beijing’s technological and military advances. The rules, some of which go …

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Wall Street ends down as two-day rally fizzles on data, Fed message

Wall Street ends down as two-day rally fizzles on data, Fed message

Stocks rise in late-day surge on oversold conditions US private payrolls increase in September – ADP Twitter eases from one-year high, Tesla falls 6% Energy stocks jump as OPEC+ agrees to oil output cuts Indices fall: Dow down 0.14%, S&P 0.20%, Nasdaq 0.25% Oct 5 (Reuters) – Wall Street stocks closed lower on Wednesday, unable …

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