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Credit Suisse plans $3 billion debt buyback
- Credit Suisse Group AG CS has offered to buy back around $3 billion of its debt amid concerns over the financial health of the Swiss bank, which had depressed its share price and led to an increase in bets against its debt.
- Credit Suisse shares briefly hit an all-time low on Monday, while its credit default swaps hit a record high amid market concerns about the bank’s future.
Apple’s key supplier posts 48% revenue growth in Q3
- Taiwan Semiconductor Manufacturing Company Ltd TSM reported revenue growth of 36.4% yoy to NT$208.25 billion in September.
- Revenue for January-September 2022 totaled NT$1.64 trillion, up 42.6% year-on-year.
- Revenue for the third quarter rose 48% year-on-year to NT$613 billion (US$19.4 billion), beating the consensus of NT$603 billion.
- Apple Inc AAPL The top chipmaker is signaling that the most prominent players in the $550 billion semiconductor industry are weathering the downturn, which is being helped by robust demand for electronic products.
Samsung shares slip as much as 2% on bleak Q3 earnings outlook
- samsung electronics co ltd SSLNF released earnings guidance for the third quarter, with consolidated operating profit expected to fall nearly 32% year-on-year to 10.8 trillion won.
- This is the first profit decline the company has reported since 2019.
- Consolidated sales are estimated at about 76 trillion won, slightly higher than the 73.98 trillion won registered a year earlier.
Google opens data center in Japan
- alphabet inc WELL Google Google will open its first data center in Japan next year.
- Based in Inzai City, Chiba, the new facility will accelerate the operation of Google tools and services and support economic activities and jobs.
- The Chiba data center is part of a $730 million infrastructure investment that began in 2021 and will continue through 2024. This includes the Topaz submarine cable, which is expected to be operational…
