Taiwanese electronics giant Foxconn will invest $19.4 billion to make semiconductors in India with local conglomerate Vedanta, backed by New Delhi's push to boost tech self-reliance after a global chip shortage.. The government's semiconductor incentive scheme has already successfully wooed several investors, with Singapore's IGSS Ventures announcing $3.2 billion in July to make chips in Tamil Nadu state.
Club Med owner Fosun, one of China's largest private-sector conglomerates, saw billions wiped off its value on Wednesday as jittery investors reacted to a media report that the group was under regulatory scrutiny.. A prolific buyer of global assets, Fosun owns French brand Club Med and has a controlling stake in the fashion house Lanvin.
South Korea has fined Google and Meta more than $71 million collectively for gathering users' personal information without consent for tailored ads, regulators said Wednesday, the country's highest-ever data protection fines.. Regulators said the majority of the users in South Korea -- 82 percent for Google and 98 percent for Meta -- had unknowingly allowed them to collect data on their online use.
Japan's central bank on Wednesday conducted an operation often seen as a precursor to currency intervention, local media said, as the yen continues to crater against a strengthening dollar.. The financial daily Nikkei and other local media said the Bank of Japan (BoJ) carried out a "rate check".
Fresh off of recent legislative triumphs aimed at supporting US manufacturing, President Joe Biden is set for an upbeat appearance Wednesday at the first Detroit Auto Show since the pandemic.. Biden's appearance Wednesday at the Detroit Auto Show lends some shine to the revived event following a three-year pandemic hiatus.
France's favourite condiment, Dijon mustard, is hard to find these days, with signs on supermarket shelves warning the lucky few who spot jars that they can only take one home.. Canada supplies around 80 percent of the mustard seeds used by French makers of the spicy condiment, the rest coming mostly from Burgundy, the region that surrounds Dijon.
Every time we make a call on Zoom, upload a document to the cloud or stream a video, our computers connect to vast warehouses filled with servers to store or access data.. "There's a complete lack of transparency... about what data is actually being stored in these data centres," he said, calling it a "veil of shadow".
Asian markets opened lower on Wednesday, tracking losses in the United States and Europe after traders responded negatively to higher-than-expected US inflation data, raising fears of a prolonged period of interest rate hikes.. "Core inflation was scorching hot, coming in double expectations," said senior market analyst Edward Moya at OANDA. "The Fed will likely have to be even more aggressive with raising rates and that is bad news for risky assets."
The European Union's second-highest court will rule Wednesday whether Brussels went too far in handing Google a 4.3-billion-euro fine over its Android operating system for mobile phones.. Both sides can turn to the EU's highest court, the European Court of Justice, for a final say on the 4.3-billion-euro fine, which was the equivalent of $5 billion when levied.
Europe's fears of a long winter with scarce energy supplies because of Russia's war in Ukraine are expected to top an annual speech by EU chief Ursula von der Leyen on Wednesday.. That meeting could also sign off on the proposals made by von der Leyen in her speech on Wednesday, some of which were to be negotiated further over the rest of this month. rmb/arp/rox/smw
