(Reuters) – U.S. chipmaker Maxlinear said on Wednesday it has scrapped a near $4 billion deal to acquire Taiwan-based Silicon Motion. Its shares fell about 12% in late afternoon trading, while the U.S.-listed shares of the Taiwanese company surged 25%. MaxLinear had agreed to buy the memory controller-maker Silicon Motion in May last year in …
Maxlinear scraps nearly $4 billion deal for Taiwan’s Silicon Motion Read More »
By Daniel Leussink and Gilles Guillaume TOKYO/PARIS (Reuters) -Nissan will invest up to $663 million in Renault’s new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their restructured partnership after months of negotiation clouded by tension. Sealing the deal is likely to be seen as a positive. Talks between the …
Nissan seals Renault deal, now faces hard yards in China Read More »
By Praveen Paramasivam and Munsif Vengattil CHENNAI, India (Reuters) – A Foxconn subsidiary is in talks with India’s Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Brand Cheng, CEO of Foxconn Industrial Internet …
Foxconn unit in talks for $200 million components plant in India’s Tamil Nadu -sources Read More »
By Victoria Waldersee BERLIN (Reuters) -Volkswagen is partnering with Chinese EV startup Xpeng and joint venture partner SAIC to build new models and potentially co-create platforms, it said on Wednesday, as it attempts to use local expertise to protect market share. The Volkswagen brand will partner with Xpeng Inc to produce two models targeting the …
Volkswagen buys Xpeng stake, partners with SAIC to boost China EV lineup Read More »
MILAN (Reuters) – Italian leather goods group Tod’s on Wednesday expressed confidence in its first-half profits as it reported a 23% yearly rise in revenues net of currency swings, driven by a strong performance its main market Greater China. Tod’s said sales totalled 574 million euros ($636 million) in January-June with crown jewel Roger Vivien …
HONG KONG (Reuters) – Alibaba’s cloud computing division said it has become the first Chinese enterprise to support Meta’s open-source artificial intelligence (AI) model Llama, allowing its Chinese business users to develop programs off the model. Meta released Llama2, a commercial version of Llama, this month to provide businesses a powerful free-of-charge alternative to pricey …
Alibaba’s cloud unit brings Meta’s AI model Llama to its clients Read More »
By Sergio Goncalves LISBON (Reuters) – Portugal will not compensate telecoms operators for any Huawei or other equipment they may have to swap as a result of a recent decision barring suppliers representing high-security risk from their 5G mobile networks, a top official told Reuters. Mario Campolargo, the secretary of state for digitalisation, said the …
Portugal won’t compensate telcos for replacing “high-risk” equipment Read More »
By Josh Ye (Reuters) -TikTok plans to launch a program in August to help Chinese merchants sell goods globally, and will officially roll it out first to consumers in the United States, a person familiar with the matter said. Seeking to replicate the success shopping platforms like Shein and PDD Holdings’ Temu have had in …
TikTok to launch e-commerce program to bring Chinese goods to the US – source Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thai exports shrank for a ninth consecutive month in June, albeit at a smaller rate than expected, as global demand remains sluggish, but the commerce ministry said on Wednesday it still expects some growth for the full year. Customs-based exports, a key driver of Thailand’s economy, …
Thai exports fall less than forecast in June, seen improving Read More »
(Reuters) -India is open to Chinese investment despite border clashes between the two countries, the Deputy Minister for Information Technology Rajeev Chandrasekhar told the Financial Times in a report published on Wednesday. “We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully and are …
India open to Chinese investment, deputy IT minister says – FT Read More »
