World News

GlobalFoundries, STMicro to build new US$5.7 Bn French chip factory

 GlobalFoundries, STMicro to build new US$5.7 Bn French chip factory

Chipmakers GlobalFoundries (Nasdaq: GFS) and STMicroelectronics announce a new factory in France.

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Global chip stocks plunge after Micron’s (MU) poor forecast, waning demand

Global chip stocks plunge after Micron’s (MU) poor forecast, waning demand

Micron Technology announces a worse than expected forecast for this quarter. It sends global chips stocks plunging on Friday.

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US first-quarter GDP revised down to 1.6%

US first-quarter GDP revised down to 1.6%

According to government data published on Wednesday, the US economy contracted more than estimated.

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South Korea's LGES reconsiders US$1.3 bn Arizona plant investment

South Korea's LGES reconsiders US$1.3 bn Arizona plant investment

LGES, a S. Korean company backtracks its investment plan for plant in Arizona.

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Siemens to acquire US software firm Brightly for US$1.58 billion

Siemens to acquire US software firm Brightly for US$1.58 billion

Siemens to buy US tech company Brightly Software to expand its SAAS initiative.

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Taiwan’s GlobalWafers to build US$5-billion silicon factory in Texas

Taiwan’s GlobalWafers to build US$5-billion silicon factory in Texas

Taiwan-based company GlobalWafers to set up new factory in US.

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Global food transportation linked to high greenhouse gas emissions

Global food transportation linked to high greenhouse gas emissions

Greenhouse gas emissions while transporting fruits and vegetables are higher than in raising livestock for meat.

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Senate passes gun bill; to provide US$15 bn funding to states

Senate passes gun bill; to provide US$15 bn funding to states

US Senate passes new gun legislation to curb rising mass shootings in the US

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Strong US dollar spurs global currency war to curb inflation

Strong US dollar spurs global currency war to curb inflation

Global race to boost individual currencies to combat inflation will unleash a mayhem in world economy.

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Powell hints at possible recession as soft landing is 'challenging'

Powell hints at possible recession as soft landing is 'challenging'

Highlights,:,Fed Reserve chair Jerome Powell said a recession is a probability as a soft landing is difficult.,The Central Bank chair said steep rate hikes are justified to rein in inflation.,Similar rate hikes of up to 75 basis points likely in July.,In ...

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Australia provides monetary support to crisis-hit Sri Lanka

Australia provides monetary support to crisis-hit Sri Lanka

Sri Lanka's economic crisis is turning worse day by day with a shortage of food, health, fuel and power supply. Recently, Australia has pledged to provide AU$50 million in Official Development Assistance to Sri Lanka to meet its urgent food and healthcare

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