By Jonathan Stempel (Reuters) -Berkshire Hathaway Inc said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing, a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC soaring, closing up 7.9% in Taiwan on Tuesday, as it boosted investor sentiment for the world’s …
Buffett’s Berkshire discloses $4.1 billion TSMC stake Read More »
By John McCrank and Alun John NEW YORK (Reuters) -Regulators opened probes following last week’s spectacular collapse of crypto exchange FTX and rival exchanges sought to reassure jittery investors of their own stability, weighing on cryptocurrencies on Monday. The implosion of FTX, once a darling of the crypto industry with a $32 billion valuation as …
Regulators circle FTX as rival exchanges try to calm investors Read More »
LONDON (Reuters) – After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout. Some of FTX’s investors have said they are writing their investment down to zero. Other crypto firms may be exposed to FTX by having held tokens on the exchange or by owning …
Factbox-From Binance to Voyager, crypto firms’ exposure to FTX is coming to light Read More »
SEOUL (Reuters) – South Korea’s export and import prices rose at slower paces in October, with the latter softening to a 15-month low, central bank data showed on Tuesday. The country’s export prices, in terms of the won currency, rose 13.7% in October from a year earlier, according to the Bank of Korea’s provisional data, …
South Korea’s Oct import prices rise at slowest pace in 15 months Read More »
By Laura Sanicola (Reuters) -Oil prices settled around $3 lower on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures settled down $2.85, or 3%, at $93.14 a barrel after gaining 1.1% …
Oil settles $3 lower on China COVID surge and firmer dollar Read More »
By Akash Sriram (Reuters) – Every time Lucid Group Inc or Rivian Automotive Inc sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed. Quarterly reports from electric vehicle (EV) makers from the past two weeks show them struggling to …
Electric vehicle makers burning cash, slammed by sky-high costs Read More »
(Reuters) – Investment firm Tiger Global Management has raised its stake in tech giant Microsoft Corp and Jack Dorsey’s payments firm Block Inc, a regulatory filing released on Monday showed. The tech focused investor had logged losses earlier this year as the Federal Reserve’s fast-monetary policy tightening and surging inflation weighed on the capital markets, …
Tiger Global raises stake in Microsoft, Jack Dorsey’s Block Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks erased early losses and turned higher on Monday to build on its biggest weekly percentage gain in two years and U.S. bond yields rose as investors digested comments from Fed officials to try and determine the central bank’s path of rate hikes. Equities …
Stocks, U.S. yields up as investors digest Fed comments Read More »
By Jane Lanhee Lee (Reuters) -Tensions between China and the United States are pushing some manufacturing companies to talk about expanding some of their supply chain beyond Taiwan, although it’s “incremental,” the head of Taiwan’s most important smartphone chip design firm told Reuters over the weekend. Some of the “very large (equipment manufacturers) will require their …
Chip firm MediaTek CEO sees manufacturers expanding supply chain beyond Taiwan Read More »
By Karen Freifeld WASHINGTON (Reuters) -Chinese memory chip maker YMTC and dozens of other Chinese entities are “at risk” of being added to a trade blacklist as soon as Dec. 6, a U.S. Commerce Department official said in prepared remarks seen by Reuters. Last month, 31 entities including YMTC were added to a list of …
YMTC could be added to U.S. trade blacklist next month: U.S. official Read More »
