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Samsung Q3 profit beats expectations, raising hopes of chip recovery

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Samsung Q3 profit beats expectations, raising hopes of chip recovery

Best quarterly profit so far this year Shares open 3.3% higher Memory chip prices likely hit bottom in Q3-analysts SEOUL, Oct 11 (Reuters) – Samsung Electronics (005930.KS) on Wednesday said its preliminary third-quarter profit dropped by a smaller-than-expected 78%, as the battered memory chip market shows early signs of recovering from a severe downturn. Samsung … Read more

SPAC shell games will keep hiding the ball

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SPAC shell games will keep hiding the ball

NEW YORK, Oct 5 (Reuters Breakingviews) – As blank-check deals go, it hardly could have been much worse than Better. The online mortgage lender led by Vishal Garg unveiled plans in May 2021 to go public at a nearly $8 billion valuation by way of a special-purpose acquisition company, exuberantly telling investors it expected to … Read more

Apple identifies issues causing overheating in the iPhone 15

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Apple identifies issues causing overheating in the iPhone 15

[1/5]People look at the new iPhone 15 Pro as Apple’s new iPhone 15 officially goes on sale across China at an Apple store in Shanghai, China September 22, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights Sept 30 (Reuters) – Apple (AAPL.O) on Saturday said it has identified a few issues which can cause new iPhones … Read more

Wall St Week Ahead US stock market’s powerhouses tested by soaring bond yields

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Wall St Week Ahead US stock market’s powerhouses tested by soaring bond yields

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing Rights NEW YORK, Sept 29 (Reuters) – Surging bond yields are rattling U.S. stocks, and some investors worry the richly valued shares of … Read more

Hopes rise for IPO recovery after September deal rush

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Hopes rise for IPO recovery after September deal rush

NEW YORK/LONDON, Sept 29 (Reuters) – Bankers and investors are embracing a degree of optimism for the IPO market following a slew of major market debuts in September that made for one of the busiest months since the start of 2022. So far this year there have been $423 billion worth of equity capital markets … Read more

Sony doubles down on virtual production business using its hardware muscle

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Sony doubles down on virtual production business using its hardware muscle

[1/5]Sony’s virtual production facility is pictured in Tokyo, Japan September 20, 2023. REUTERS/Sam Nussey Acquire Licensing Rights TOKYO, Sept 29 (Reuters) – Sony Group (6758.T) is increasing its focus on the virtual production business where it is seeing market-beating growth, a company executive said, riding on the strength of the Japanese entertainment conglomerate’s technology. The … Read more

Meta’s new AI assistant trained on public Facebook and Instagram posts

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Meta’s new AI assistant trained on public Facebook and Instagram posts

[1/4]Meta CEO Mark Zuckerberg delivers a speech, as the letters AI for artificial intelligence appear on screen, at the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., September 27, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing Rights MENLO PARK, California, Sept 28 (Reuters) – Meta Platforms (META.O) used public Facebook and Instagram … Read more

Meta unveils AI assistant, Facebook-streaming glasses

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Meta unveils AI assistant, Facebook-streaming glasses

[1/9]A guest attends a presentation of the updated virtual reality headset during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., September 27, 2023. REUTERS/Carlos Barria Acquire Licensing Rights MENLO PARK, California, Sept 27 (Reuters) – Meta Platforms (META.O) Chief Executive Mark Zuckerberg on Wednesday rolled out new AI products for … Read more

Apple supplier Pegatron to halt ops at India plant for second day after fire

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Apple supplier Pegatron to halt ops at India plant for second day after fire

Employee buses enter the Pegatron facility near Chennai, India, March 7, 2023. REUTERS/Praveen Paramasivam/File Photo Acquire Licensing Rights CHENNAI, Sept 25 (Reuters) – Apple (AAPL.O) supplier Pegatron has told its factory workers not to report for work on Tuesday, halting the assembly of iPhones for a second straight day at its south India factory where … Read more

US stocks end sharply lower, Treasury yields spike on hawkish Fed outlook

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US stocks end sharply lower, Treasury yields spike on hawkish Fed outlook

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights Weekly jobless claims drop 9% FedEx gains on surprise profit beat Broadcom down on report Google to replace co as AI chip supplier NEW YORK, Sept 21 (Reuters) – Wall … Read more