TSMC starts volume production of most advanced chips in Taiwan

TSMC starts volume production of most advanced chips in Taiwan

TAINAN, Taiwan, Dec 29 (Reuters) – Chipmaker Taiwan Semiconductor Manufacturing Company Ltd (TSMC)(2330.TW), began mass production of its most advanced chips in southern Taiwan on Thursday and the company’s chairman said it would continue to expand capacity on the island. The long-awaited mass production of chips with 3-nanometre technology comes as attention focuses on the … Read more

Bankman-Fried’s criminal case assigned to judge in Trump, Prince Andrew cases

Bankman-Fried’s criminal case assigned to judge in Trump, Prince Andrew cases

Dec 27 (Reuters) – Sam Bankman-Fried’s criminal case over the collapse of his FTX cryptocurrency exchange has been reassigned to a judge recently known for handling defamation lawsuits against former U.S. President Donald Trump and a sexual abuse lawsuit against Britain’s Prince Andrew. U.S. District Judge Lewis Kaplan replaces his colleague Ronnie Abrams, who recused … Read more

Apple Japan hit with $98 mln in back taxes- Nikkei

Apple Japan hit with $98 mln in back taxes- Nikkei

TOKYO, Dec 27 (Reuters) – Apple Inc’s (AAPL.O) Japan unit is being charged 13 billion yen ($98 million) in additional taxes for bulk sales of iPhones and other Apple devices to foreign tourists that were incorrectly exempted from the consumption tax, the Nikkei newspaper said. Citing unidentified sources, the Nikkei reported on Tuesday that bulk … Read more

Elon Musk’s vow to not sell more Tesla stock fails to calm investors

Elon Musk’s vow to not sell more Tesla stock fails to calm investors

Dec 23 (Reuters) – Tesla Inc shares (TSLA.O) hit a fresh two-year low in volatile trading on Friday as top boss Elon Musk’s promise to not sell his shares in the electric-car company for at least two years did little to reassure investors. Musk has offloaded shares worth $40 billion in the world’s most valuable … Read more

Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says

Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says

NEW YORK, Dec 23 (Reuters) – Sam Bankman-Fried and other FTX executives received billions of dollars in secret loans from the crypto mogul’s Alameda Research, the hedge fund’s former chief told a judge when she pleaded guilty to her role in the exchange’s collapse. Caroline Ellison, former chief executive of Alameda Research, said she agreed … Read more

Facebook parent Meta to settle Cambridge Analytica case for $725 million

Facebook parent Meta to settle Cambridge Analytica case for $725 million

Dec 23 (Reuters) – Facebook owner Meta Platforms Inc (META.O) has agreed to pay $725 million to resolve a class-action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information. The proposed settlement, which was disclosed in a court filing late on Thursday, would resolve a long-running … Read more

Russia explores buying stranded jets from Western leasing firms

Russia explores buying stranded jets from Western leasing firms

Some 400 jets worth $10 billion stranded by war $644 mln offered for 17 Aeroflot aircraft -letter Russian plan would use its National Wealth Fund Required EU approval not yet forthcoming -sources DUBLIN/LONDON, Dec 22 (Reuters) – Russian airlines have held exploratory talks with at least one major Western leasing firm about using state funds … Read more

Elon Musk says he will not sell more Tesla stock for about two years

Elon Musk says he will not sell more Tesla stock for about two years

Dec 22 (Reuters) – Tesla (TSLA.O) Chief Executive Officer Elon Musk said on Thursday he will not sell any more Tesla stock for about two years. While speaking in a Twitter Spaces audio chat, Musk said he foresees the economy will be in a “serious recession” in 2023 and demand for big-ticket items will be … Read more

CarMax results hit by ‘used-vehicle recession’; buyback paused

CarMax results hit by ‘used-vehicle recession’; buyback paused

Dec 22 (Reuters) – Used-car retailer CarMax Inc (KMX.N) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more … Read more

Rainwater Tech to list in New York via SPAC merger

Rainwater Tech to list in New York via SPAC merger

NEW YORK, Dec 22 (Reuters) – Rain Enhancement Technologies Inc, a developer of systems that boost rainfall in arid regions, has agreed to combine with special purpose acquisition company (SPAC) dMY Technology Group VI (DMYS.N), the companies told Reuters. Led by Mike Nefkens, the former president of Hewlett Packard Enterprise Services, Rain Enhancement Technologies – … Read more