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As nuclear loss grows, Toshiba needs chip investors, soon
FILE PHOTO - Workers prepare the new year's eve numerals above a Toshiba sign in Times Square in Manhattan, New York City, U.S.By Makiko Yamazaki and Kentaro Hamada TOKYO (Reuters) - With mounting writedowns from its nuclear business, Japan's Toshiba Corp is looking to sell part of its core semiconductors business, a world No.2 in the flash memory chips used in smartphones. Toshiba, which warned last month of multi-billion dollar charges for U.S. nuclear project cost overruns, wants to boost its capital base by the end of the financial year in March. Failure to offset the nuclear hit could wipe out already thin shareholder equity and push the company into negative net worth - jeopardizing its role in public infrastructure projects and its place on the Tokyo Stock Exchange's 'first section', for larger companies.
Sat, 21 Jan 2017 19:18:53 -0500
Foxconn CEO says investment for display plant in U.S. would exceed $7 billion
FILE PHOTO Founder and chairman of Taiwan's Foxconn Technology Terry Gou is shown on a screen during the third annual World Internet Conference in Wuzhen town of JiaxingFoxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, company chairman and chief executive Terry Gou said on Sunday. The plans come after U.S. President Donald Trump pledged to put "America First" in his inauguration speech on Friday, prompting Gou to warn about the rise of protectionism and a trend for politics to underpin economic development. Foxconn's proposal to build a display plant, which would be planned with its Sharp Corp unit, depend on many factors, such as investment conditions, that would have to be negotiated at the U.S. state and federal levels, Gou told reporters on the sidelines of a company event.
Sun, 22 Jan 2017 08:46:23 -0500
China sets up $14.6 billion internet investment fund: Xinhua
Customers use computers at an internet cafe in HefeiBy Dominique Patton BEIJING (Reuters) - China has set up a 100 billion yuan ($14.55 billion) fund to support investment in the internet sector, said official news agency Xinhua on Sunday. The fund, backed by China's cabinet, is designed to help turn China into a major player in internet technology, said the report. An initial 30 billion yuan has already been raised from major banks and telecoms firms including ICBC, China Mobile and China Unicom.
Sun, 22 Jan 2017 02:20:23 -0500
UK's May looks to boost technology industry as she eyes life after Brexit
Britain's Prime Minister Theresa May leaves the BBC's Broadcasting House in LondonThe government's plan to reshape Britain's economy to adapt to Brexit will be announced next week, Prime Minister Theresa May said on Sunday, highlighting technology as one growth sector and setting out a new technical education strategy. May has made rebalancing the heavily services-based economy one of her top priorities since coming to office last July, as a way to deal with the economic impact of Britain's exit from the European Union and re-engage with disillusioned working class voters. On Monday ,she is due to publish an outline of the government's plans for a "modern industrial strategy" in a consultation document which will seek the views of industry.
Sun, 22 Jan 2017 06:41:56 -0500
Apple files $1 billion lawsuit against chip supplier Qualcomm
People line up at an Apple store shortly before it opens in BeijingQualcomm is a major supplier to both Apple and Samsung Electronics Co Ltd for "modem" chips that connect phones to wireless networks. The two companies together accounted for 40 percent of Qualcomm's $23.5 billion in revenue in its most recent fiscal year. In the lawsuit filed in U.S. District Court for the Southern District of California, Apple accused Qualcomm of overcharging for chips and refusing to pay some $1 billion in promised rebates.
Fri, 20 Jan 2017 20:10:54 -0500
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