financial times

Germany's Finance Minister Christian Lindner is refusing Intel's demands for higher subsidies for a 17-billion-euro ($18-billion) chip plant, saying the country could not afford it, the Financial Times reported on Sunday."There is no more money available in the budget," the newspaper quoted Lindner as saying in an interview. "We are trying to consolidate the budget right now, not expand it." The company was due to receive 6.8 billion euros in government support for its fabrication plant in Germany. However, due to higher…

British chipmaker Arm Ltd is building its own semiconductor to showcase the capabilities of its products, as it seeks to attract new customers and fuel growth following its Initial Public Offering (IPO) later this year, the Financial Times reported on Sunday.Arm will team up with manufacturing partners to develop the new semiconductor, FT said, citing people briefed on the move, adding that the company has built a new "solutions engineering" team that will lead the development of these prototype chips for mobile devices,…

China stocks fell, dragged down by a slump in Chatbot-related companies that had surged amid speculative bets and despite data showing China's exports posted a surprise surge in March. China's blue-chip index CSI 300 closed down 0.7%, while the Hang Seng Index edged up 0.2%. Chinese outbound shipments rose 14.8% in March, snapping five months of declines, while imports fell a smaller-than-expected 1.4%, customs data showed on Thursday. However, analysts cautioned the improvement partly reflected suppliers catching up with…

Twitter chief executive Elon Musk said that the company had "a shot" at being cash flow-positive next quarter, as the social media platform has been aggressively cutting costs. Musk, speaking at a Morgan Stanley investor conference that was webcast, said it was "startling" how poorly Twitter managed to make money off its messaging service. The company has reduced its non-debt expenditures to $1.5 billion from a projected $4.5 billion in 2023, helped by cutting its cloud services bill by 40% and closing one data center,…

Elon Musk on Monday told jurors that his 2018 tweet about taking Tesla private at $420 a share was no joke and that Saudi Arabia's sovereign wealth fund was serious about helping him do it.The Tesla chief returned to the witness stand to answer questions from lawyers for angry investors who accuse him of costing them millions of dollars with a pair of allegedly false tweets about having the funding secured to buy them out.A lawyer for the plaintiffs focused on Musk's buyout figure of 420, a number that is also a popular…

Image Source : INDIA TV Vodafone Vodafone Idea (Vi), a telecommunication player has been reportedly planning to slash hundreds of jobs, mostly at its London-based headquarters, to cut costs in the global economic slowdown. The Financial Times reported that this will be the company's "biggest round of job cuts in five years". ALSO READ: Airtel 5G Plus reaches Jammu and…

China is moving to take minority stakes with special rights in the local units of Alibaba Group Holding Ltd and Tencent Holdings Ltd, the Financial Times reported. Seeking influence, Beijing began taking these stakes, called "golden shares," in private online media companies - usually about 1% of a firm - more than five years ago. These golden stakes are bought by government-backed funds or companies which gain a board seat and/or veto rights for key business decisions.Read Also An entity under the state investment fund…

Image Source : PIXABAY Twitter Twitter has been pressured by the US government to elevate certain Covid-19 information to the public. The government has been suppressing other content on the platform, while it suspended reputed medical professionals who disagreed with establishment views during the peak of the pandemic, new 'Twitter Files' have alleged. Independent…

Chip-maker Intel has begun layoffs and is also offering thousands of manufacturing employees globally three months of unpaid leave as it aims to weather the poor sales amid global macroeconomic conditions.The company started its expected layoffs in California with at least 201 employees as "part of a broader cost cutting effort," according to reports.The layoffs are scheduled to begin from January 31, the report said, adding that according to the "Worker Adjustment and Retraining Notifications", 111 employees will be…

Image Source : FREEPIK TikTok TikTok, a leading Chinese short-form video app has been reportedly planning to launch a new feature on the platform, for the USA market where the users could get a live shopping feature in the market.  Asper the report in the Financial Times, the short format video platform has been looking to join TalkShopLive for launching the live…