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Taiwan's Foxconn says global manufacturing footprint to shield it from Trump's tariffs

TAIPEI (Reuters) -Taiwan’s Foxconn said on Wednesday it expects any impact of new tariffs from U.S. President-elect Donald Trump to hit it less than its rivals, citing its global manufacturing footprint. Young Liu, chairman of the contract manufacturer and key Apple supplier, told reporters after a forum in Taipei that it saw the primary impact of any fresh tariffs falling on its clients because its business model was based on contract manufacturing.

Reuters 57 minutes ago

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Lidar Maker Hesai Sees Technology Becoming as Common as Airbags

(Bloomberg) -- China’s Hesai Group, the world’s largest maker of lidar sensors used in driver assistance systems, is on a growth trajectory that won’t be stopped by geopolitics, according to Chief Executive Officer David Li. The Nasdaq-listed company’s shares surged a record 44% in New York trading on Tuesday after it reported a 21% jump in third-quarter revenue to $76.9 million and forecast further growth to $100 million this quarter. Shipments more than doubled from a year earlier, and Li said

Oil prices steady amid focus on Israel-Hezbollah ceasefire, OPEC+ policy

Brent crude futures fell 2 cents to $72.79 a barrel by 0114 GMT, while U.S. West Texas Intermediate crude futures were at $68.73 a barrel, down 4 cents, or 0.1%. Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire deal with Lebanon's Hezbollah. A ceasefire between Israel and Hezbollah will take effect on Wednesday after both sides accepted an agreement brokered by the United States and France, U.S. President Joe Biden said on Tuesday.

Factbox-How Trump's proposed tariffs might affect commodities and energy

The proposed tariffs would affect a wide range of industries, including oil, natural gas, agriculture and manufacturing, potentially altering long-established trade patterns and supply chains. Canada exported some $177.19 billion in energy products to the United States in 2023, according to government data. Crude imports from Canada make up more than a fifth of all the oil that U.S. refineries process.

Korea Eyes $10 Billion in Support for Chipmakers in 2025

(Bloomberg) -- South Korea plans to bolster its fiscal support for domestic chipmakers next year, shoring up an industry that may face unfavorable policies from the incoming Trump administration and more intense challenges from Chinese rivals.Financial support made up of loans, insurances and guarantees from state-affiliated organizations is set to amount to 14.3 trillion won ($10.2 billion) next year in an elevation of continued policy stimulus, the Finance Ministry said Wednesday. Separately,

Dell, HP Inc. Report Disappointing Sales on Slower PC Market

(Bloomberg) -- Dell Technologies Inc. and HP Inc. reported quarterly financial results that suggest a long-awaited recovery of the personal computer market is stalling. The shares of each company dropped in extended trading.Revenue generated by Dell’s PC business declined 1% to $12.1 billion in the fiscal third quarter, falling short of estimates. While sales in HP’s PC unit rose 2% to $9.59 billion in the similar three-month period, that too missed the average analyst estimate. “The PC refresh

CrowdStrike Falls After Disappointing Earnings Outlook

(Bloomberg) -- CrowdStrike Holdings Inc. issued a weaker-than-expected earnings forecast, disappointing investors who have been watching for signs that the cybersecurity company has recovered from a flawed update that crashed computers around the world.Adjusted earnings will be 84 cents to 86 cents per share in the fiscal fourth quarter, CrowdStrike said Tuesday in a statement. Analysts were expecting 87 cents, according to Bloomberg-compiled estimates. Shares of CrowdStrike fell about 5% in ext

HP earnings in line with expectations, CEO says tariffs would hit the consumer

HP CEO Enrique Lores weighs in on potential tariffs from the Trump administration.

Australia Social Media Ban Nears Vote Despite Lawmaker Concerns

(Bloomberg) -- Australia’s plan to ban social media for children under the age of 16 is expected to pass parliament within days after it was signed off in a truncated Senate inquiry, even as lawmakers from across the political divide expressed discomfort at the “rushed” nature of the bills.The Senate’s Committee on Environment and Communications said in a report released late Tuesday that the legislation should be passed, with amendments to prohibit tech giants from requesting government-issued

HP Gives Lackluster Profit Outlook on Slow PC Market Recovery

(Bloomberg) -- HP Inc. gave an outlook for profit in the current quarter that fell short of estimates, suggesting a setback in the personal computer market’s recovery from a yearslong slump.Earnings, excluding some items, will be 70 cents to 76 cents a share in the fiscal first quarter, the company said Tuesday in a statement. Analysts, on average, projected 86 cents in the period ending in January, according to data compiled by Bloomberg. For the fiscal year, profit will be $3.45 to $3.75 a sha

Japan’s Top Chip Distributor Eyes Acquisitions in China, India

(Bloomberg) -- Japanese chip distributor Macnica Holdings Inc. is seeking possible acquisition targets in other parts of Asia, a sign of industry pressures to consolidate.Macnica, which sells chips made by the likes of Intel Corp.’s Altera, is eyeing an overseas acquisition to better hold its own against bigger competitors. Scale is becoming important even for distributors, who need to navigate the technological rivalry between the US and China and the resulting export controls and supply chain