Reuters
Apple supplier TSMC posts net income up 80% in Q3 – what the company expects in Q4
- apple inc-Offerer Taiwan Semiconductor Mfg. Co.Ltd. TSM reported an 80% increase in net profit to NT$280.87 billion (US$8.81 billion) in the third quarter.
- This is the company’s strongest growth in two years, helped by strong sales of its advanced chips used in data centers and electric cars.
Toshiba shares gain on reports of a potential $19 billion takeover bid
- A domestic investor-led group is eyeing a $19 billion bid Toshiba Corp TOSYY – a potential deal that would likely result in foreign activist shareholders being bought out after years of tensions.
- Toshiba and activist shareholders have clashed over the company’s direction, with several major overseas funds urging the conglomerate to consider private equity offerings.
More heat in the EV race as Sony and Honda prepare for a premium EV offering
- A joint venture founded by Sony Group Corp SONY and honda motor co ltd HMC aims to deliver and sell its first electric vehicles online by 2026, starting in the US and Japan.
- They will offer the new EV at a premium and offer a new software system developed by Sony that would pave the way to recurring revenue from entertainment and other services for monthly billing.
- Honda will manufacture the electric vehicle at one of its plants in Ohio.
Wall Street Journal
TikTok parent is reportedly trying to expand music service in direct challenge to Spotify, Apple
- tick tock parent ByteDance Ltd is reportedly looking to boost its music streaming business and fight against industry heavyweights such as Spotify Technology SA JOB.
- ByteDance has started reaching out to music labels tune the streaming service’s global expansion plans and intends to integrate it with TikTok.
Samsung gets one year exemption from new US embargo
- Samsung Electronics Co.,Ltd SSNLF a one-year exemption from the new US embargo on the export of advanced chips and related equipment to…
