TAIPEI (Reuters) -Taiwanese chipmaker TSMC posted an 80% surge in third-quarter net profit on Thursday, boosted by strong sales of its advanced chips used in data centres and electric cars, despite a slowdown in the global chip industry due to economic headwinds. This is the company’s strongest quarterly net profit growth in two years. Taiwan…
BRUSSELS (AP) — Cutting off natural gas to Poland and Bulgaria cost Russian President Vladimir Putin very little — but it is adding stress on European countries wrestling with how to reduce the energy imports feeding the Kremlin’s war chest and how to keep a united front on the war in Ukraine. European Union officials…
By Chavi Mehta, Jane Lanhee Lee and Stephen Nellis (Reuters) -Qualcomm Inc on Wednesday forecast third-quarter revenue and profit below Wall Street estimates, saying the smartphone industry would take longer to use up excess chips before fresh orders flow in. Shares of the chip designer fell nearly 7% in extended trading after it said its…
By Wayne Cole SYDNEY (Reuters) – With a July policy meeting done and dusted, the head of Australia’s central bank is waiting to hear if he will remain at the helm or take an early exit as past policy missteps come back to haunt him. Markets are still in the dark whether Treasurer Jim Chalmers…
By Kanishka Singh and Susan Heavey WASHINGTON (Reuters) -The U.S. government on Thursday called on companies to ensure they comply with Russia-related sanctions imposed after Moscow’s invasion of Ukraine, warning that a failure to do so could lead to potential prosecution or enforcement actions. Businesses should be aware of tactics being used to skirt restrictions…
KYIV (Reuters) – The Ukrainian government is to build new fortifications and military infrastructure in northeast regions that border Russia and Belarus at a cost of nearly $35 million, Prime Minister Denys Shmyhal said on Tuesday. “At the request of Kharkiv and Chernihiv…we are allocating 911.5 million hryvnias ($24.7 million) for Kharkiv and 363 million…
(Reuters) – U.S. Treasury officials on Wednesday unveiled rules for how non-profits, tribes and governments can take advantage of subsidies in President Joe Biden’s new climate change law, expanding the incentives beyond big corporations. The Inflation Reduction Act (IRA) offers billions of dollars in tax credits to speed decarbonization of the U.S. economy. To encourage…
(Reuters) – U.S. stock index futures crawled higher on Thursday, adding to strong gains from the previous session on first signs of cooling inflation, with investors looking for more evidence from data on producer prices and the labor market. Following a softer-than-expected rise in consumer prices on Wednesday, investors slashed their bets of another super-sized…
(Reuters) – Myanmar’s military government may move ousted leader Aung San Suu Kyi from prison to house arrest in the capital, Naypyitaw, two media outlets reported on Wednesday. The 78-year-old Nobel laureate has been in detention since her arrest in early 2021 when the military overthrew her elected government in a coup and unleashed a…
BANGKOK (AP) — Asian shares were mixed on Wednesday as investors awaited the outcome of the U.S. midterm elections and a major inflation update due later in the week. Tokyo’s Nikkei 225 index slipped 0.2% and the Hang Seng in Hong Kong also shed 0.2%, to 16,517.04. The Shanghai Composite index edged 0.1% higher to…
