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TSMC cuts investment in 2023 after record fourth quarter as chip demand weakens

Q4 profit of T$295.9 billion vs. T$289.44 billion, analysts say Fourth-quarter revenue up 26.7% year-on-year to $19.93 billion Sees 2023 investments at $32-36 billion from $36.3 billion the previous year The company plans to increase its production abroad TAIPEI, Jan 12 (Reuters) – Taiwanese chipmaker TSMC (2330.TW) warned on Thursday that first-quarter revenue would fall …

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Goldman job cuts hit investment banking and global markets hard

Massive layoffs and spending review for the Wall Street giant Cups in all major divisions expected, globally Asian wealth unit restructuring kicks off Wednesday layoffs NEW YORK/LONDON/HONG KONG, Jan 12 (Reuters) – Goldman Sachs (GS.N) began laying off staff on Wednesday as part of a sweeping cost-cutting campaign, with around a third of those affected …

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Wall St ends sharply higher on optimism ahead of key inflation report

CPI report expected on Thursday before the bell Bed, Bath & Beyond Extends Recent Gains Indices: Dow up 0.8%, S&P 500 up 1.3%, Nasdaq up 1.8% NEW YORK, Jan 11 (Reuters) – U.S. stocks ended sharply higher on Wednesday, with the S&P 500 and Nasdaq each gaining more than 1% as investors were bullish ahead …

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Biden’s climate agenda has a problem: Not enough workers

Jan 11 (Reuters) – U.S. clean energy companies are offering better wages and benefits, bringing in trainers from abroad and considering ideas such as buying roofs and electrical repair shops just to hire their workers as companies try to overcome a labor shortage that threatens to derail President Joe Biden’s climate change agenda. The Cut …

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Microsoft in talks to invest $10 billion in ChatGPT owner -Semafor

Jan 9 (Reuters) – Microsoft Corp (MSFT.O) is in talks to invest $10 billion in OpenAI, the owner of ChatGPT, which will value the San Francisco-based company at $29 billion, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture capitalists and deal documents have been sent to potential investors …

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US FTC investigates Pepsi and Coca-Cola for price discrimination – Reuters

Jan 9 (Reuters) – Beverage giants Coca-Cola Co (KO.N) and PepsiCo Inc (PEP.O) are under preliminary investigation by the U.S. Federal Trade Commission (FTC) over a possible price discrimination in the soft drink market, Politico reported Monday citing sources. Both companies’ pricing strategies are being reviewed under the Robinson-Patman Act, according to the report. US …

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Wait times for some Tesla models in China increase after automaker rebates

SHANGHAI, Jan 9 (Reuters) – Potential buyers of Tesla Inc (TSLA.O) in China are waiting longer for some versions of its Model Y car, suggesting the electric vehicle maker’s decision to cut prices is fueling demand on its second largest market. Tesla slashed prices by 6% to 13.5% on Friday, bringing some of its auto …

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US questions Tesla over Musk tweet about driver monitoring feature

WASHINGTON, Jan 9 (Reuters) – The National Highway Traffic Safety Administration (NHTSA) said on Monday it was in contact with Tesla (TSLA.O) over a tweet Chief Executive Elon Musk wrote about the car. a driver monitoring function. A Dec. The 31st tweet suggested that drivers driving more than 10,000 miles using Tesla’s “Full Self-Driving” (FSD) …

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Shares of ant-related companies rise after news of Jack Mac’s divestment; Alibaba jumps

Jan 9 (Reuters) – Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after news broke that Ant founder Jack Ma was relinquishing control of the fintech giant following a an overhaul. Hong Kong-listed shares of Ma’s Alibaba (9988.HK) jumped 7%. Shares of Longshine Technology Group Co Ltd …

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