Wall Street experienced a rocky Wednesday morning as losses in Big Tech stocks countered broader market gains as a key inflation gauge ticked higher. What Are the Big Tech Losses? Ahead of the inflation report, despite a largely positive performance across most sectors, heavyweight technology companies like Nvidia and Microsoft dragged the S&P 500 down…
Millions of people are at risk after downloading dangerous applications onto their smartphones. Cybersecurity company McAfee has identified 15 malicious apps that have been downloaded onto at least 8 million Android phones, and warned about the “significant global increase of … predatory loan apps.” The apps, which McAfee called “a global threat,” have since been reported to Google’s moderators….
TOKYO/SEOUL — When Japan decided to get back into the chipmaking game, trading house Sojitz saw a chance to grab a piece of the action. The Tokyo-based company is looking to build a plant in Kyushu, the same region where chip titan Taiwan Semiconductor Manufacturing Co. is building its first Japanese factory, to process fluorspar…
CLN KraneShares Week in Review Asian equities were mixed for the week as Korea and Pakistan outperformed while Hong Kong and Mainland China underperformed. It was a busy week for internet earnings, as we had Q3 earnings releases from Trip.com, which beat expectations, Kuaishou, which beat expectations, fintech Qifu Technology, which beat, and PDD, which…
Topline Amazon founder Jeff Bezos and Oracle co-founder Larry Ellison have traded off the No. 2 spot on Forbes’ billionaire list Thursday, marking the latest exchange of the title between the two tech billionaires since September. Bezos net worth is down more than $2 billion Thursday. (Photo by Cooper Neill/Getty Images) Getty Images Key Facts…
Policymakers have long said they were doing what they could to ease the pocketbook pain of average Americans. Now, a new administration has the chance to take real action that will help prevent higher cell phone bills while also connecting more Americans and keeping our communications infrastructure competitive with China. The good news? Policymakers and…
Washington lawmakers are going after firms that make equipment for semiconductor manufacturing as the Joe Biden administration mulls more export controls to restrict China’s hi-tech advances. On Thursday, the Democratic and Republican leaders of the House select committee on China sent letters to five American, Dutch and Japanese companies, requesting detailed information about the companies’…
The federal government is ordering TikTok to end its business interests in Canada following a national security review, but will still allow Canadians to use the popular social media app. The decision announced by Innovation and Science Minister Francois-Philippe Champagne on Wednesday comes after a lengthy review into security concerns over the app and its…
Berkshire Hathaway’s cash reserves are at an all-time high of $325.2 billion as Warren Buffett quickly exits what has been one of his most profitable trades of the past decade. The Oracle of Omaha and his conglomerate holding company Berkshire started to offload shares of Apple late last year, paring down a major bet on…
A Chinese woman has emerged as one of the youngest and richest individuals in the country, having been listed on the “Hurun China Rich List 2024” with a net worth of 8.5 billion yuan (US$1.2 billion). Following the release of the mainland rich list on October 29, 35-year-old Wang Shuo quickly became the focus of…