Technology

Intel

Intel Expects Chip Shortages on China’s COVID Curbs

Intel Corporation issued a lower-than-expected forecast for its fiscal second quarter, citing further chip shortages due to the widening COVID-19 curbs in China. The chipmaker projects a current-quarter adjusted profit of $0.70 per share, below analysts’ average estimate of $0.83. Eventually, its forecasted revenue was $18.00 billion, missing the market consensus of $18.38 billion. As …

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TMN - Tesla

Tesla surges past mounting costs with EV price hikes

Tesla Inc’s first-quarter earnings results raced past market expectations on Wednesday as higher vehicle prices helped insulate the firm from rising material costs. The leading electric vehicle maker reported quarterly revenue of $18.76 billion, compared with the forecasted $17.80 billion. Subsequently, automotive revenue reached $16.86 billion, representing an 87.00% increase from last year. Regulatory credits …

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TMN - Stripe

Stripe works with major tech toward carbon capture

  Stripe will partner with major companies, including Alphabet and Meta, to fund $952.00 million in spurring the carbon-capture market. The online payments provider announced the creation of Frontier. It is an advanced commitment to permanent carbon removal from firms that develop the technology. Accordingly, the initiative will be a wholly-owned subsidiary of Stripe. Meanwhile, …

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samsung

Samsung Electronics forecasts 50% jump in Q1 profit

On Thursday, Samsung Electronics anticipated a 50.00% jump in the first-quarter operating earnings as solid demand underpinned prices for memory chips. The world’s largest memory chip and smartphone maker expected a Q1 profit of $11.66 billion. This estimate came in higher than the market consensus of $10.90 billion. At the same time, it edged up …

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TMN - google

Google suspends ads that exploit Russia-Ukraine war

On Thursday, Alphabet-owned Google announced to halt advertisements that exploit, dismiss, or condone the ongoing crisis between Russia and Ukraine. The American internet giant emphasized that it will not help websites, apps, and YouTube channels that will not comply. The company operates through advertising software that helps publishers generate revenue. Correspondingly, it cited that it …

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TMN - Meta

Australia sues Meta over scam advertisements

On Friday, Australia sued Meta Platforms over scam advertisements on Facebook that falsely include prominent figures. Accordingly, the country’s consumer protection agency stated that the adverts endorsed investment in cryptocurrency or money-making schemes. The fraud also featured well-known Australians, including former New South Wales premier Mike Baird and businessman Dick Smith. Subsequently, scammers convince users …

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TMN - FOXCONN

Foxconn resumes production in Shenzhen

Foxconn, a major Apple Inc. supplier, announced on late Wednesday that it would partially resume production in Shenzhen, China. Accordingly, the Taiwanese company would use a bubble arrangement to resume production until Sunday. The campuses will operate through a closed-loop management system, a setting requested by the local government. Accordingly, this protocol, used during the …

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