By Svea Herbst-Bayliss NEW YORK (Reuters) – An investor group is urging Toyo Suisan Kaisha to consider exiting its legacy business plus raise its dividend and buy back shares, arguing these steps could roughly double the Japanese ramen noodle maker’s share price, a report seen by Reuters says. The group, led by private equity firm …
By Foo Yun Chee BRUSSELS (Reuters) -TikTok will voluntarily suspend its new app TikTok Lite’s reward programme while it tries to resolve EU concerns, the company said on X social media platform on Wednesday. The European Commission is using its Digital Services Act (DSA) rules to force major online companies to do more to tackle …
TikTok suspends new app’s reward programme amid EU concerns Read More »
By Chris Prentice and Jonathan Stempel NEW YORK (Reuters) -U.S. prosecutors want Changpeng Zhao, the founder and former chief executive of Binance, the world’s largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering. Prosecutors made the request in a Tuesday night filing in Seattle federal …
US seeks 3 years prison for Binance founder Zhao Read More »
KINSHASA (Reuters) – Kazakh miner Eurasian Resources Group (ERG) has denied accusations it tried to bypass Democratic Republic of Congo’s subcontracting laws designed to boost local ownership in the mining sector, job creation, and benefits to the country’s economy. In a statement published last week, Congo’s government accused ERG of passing off nine subcontracting companies …
Kazakh miner ERG denies circumventing Congo subcontracting laws Read More »
SANTA CLARA, California (Reuters) – Taiwan Semiconductor Manufacturing Co said on Wednesday that a new chip manufacturing technology called “A16” will enter production in the second half of 2026. At a conference in Santa Clara, California, TSMC’s co-Chief Operating Officer Y.J. Mii said the technology will also allow for the delivery of power to computing …
TSMC says ‘A16’ chipmaking technology will start production in late 2026 Read More »
By Norihiko Shirouzu and Chris Kirkham (Reuters) – A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world’s best-selling EV, but for about $8,000 less. The EX30 from Volvo Cars, the Swedish luxury brand owned by China’s Geely , foreshadows the fierce competitive …
How Volvo landed a cheap Chinese EV on U.S. shores in a trade war Read More »
By David Shepardson WASHINGTON (Reuters) – The U.S. Senate voted by a wide margin late Tuesday in favor of legislation that would ban TikTok in the United States if its owner, the Chinese tech firm ByteDance, fails to divest the popular short video app over the next nine months to a year. Driven by widespread …
US Senate passes TikTok divestment-or-ban bill, Biden set to make it law Read More »
By Nathan Vifflin (Reuters) -Wafer processing equipment supplier ASM International (ASMI) raised its revenue forecast for the second quarter, citing stronger-than-expected Chinese demand and higher sales in advanced logic and memory, sending its shares up as much as 12%. ASMI said after market close on Tuesday that it now expected revenue in the quarter between …
ASMI ups revenue forecast, cites strong Chinese bookings, shares jump Read More »
TAIPEI (Reuters) – Taiwanese chipmaker UMC said on Wednesday it expected a rise in wafer shipments in the second quarter as inventory levels for computing, consumer and communications segments improved, but warned of muted auto and industrial demand. WHY IT’S IMPORTANT Investors have been on edge about chip demand after UMC’s much larger peer TSMC …
Taiwan chipmaker UMC warns of muted auto, industrial demand Read More »
By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) -Indonesia’s central bank delivered a surprise rate hike on Wednesday, stepping up efforts to support the rupiah currency which has fallen to four-year lows on rising risk aversion and a delay in the expected timing of any U.S. policy easing. Bank Indonesia (BI) raised the 7-day reverse …
Indonesia’s central bank delivers surprise rate hike to anchor rupiah Read More »
