Tech News

STMicro and GlobalFoundries plan 5.7 bn euro French factory

French-Italian chipmaker STMicroelectronics and US-based GlobalFoundries will plough 5.7 billion euros ($5.8 billion) into a new semiconductor factory in France, the firms and President Emmanuel Macron's office said Monday.. - Push for European supply - President Macron plans to visit the existing factory on Tuesday to outline government plans to support chip manufacturing with "more than five billion euros" as part of an industrial programme dubbed "France 2030", his office said.

Mon, Jul 11, 2022 2 mins read

Tech News

China detains alleged bank fraud 'gang' after rare mass protests

Members of a "criminal gang" accused of taking control of local banks have been arrested in central China after rare protests over alleged financial corruption sparked violent clashes between customers and authorities.. - Deepening crisis -  Local authorities did not immediately comment on the unrest, but police in neighbouring Xuchang city said they had arrested members of an alleged "criminal gang" for their suspected involvement in a scheme to gain control of local banks.

Mon, Jul 11, 2022 3 mins read

Tech News

Europe frets over reduced Russia gas supplies

Russian gaz giant Gazprom begins 10 days of routine maintenance on its Nord Stream 1 pipeline on Monday -- with Germany and other European countries watching anxiously to see if the gas comes back on.. Nord Stream 1 is the longest subsea pipeline in the world, running under the Baltic Sea from Russia to Germany and has been in operation for a decade.

Mon, Jul 11, 2022 3 mins read

Tech News

China detains alleged bank fraud 'gang' after rare mass protests

Members of a "criminal gang" accused of taking control of local banks have been arrested in central China after rare protests over alleged financial corruption sparked violent clashes between customers and authorities.. Local authorities did not immediately comment on the protests, but police in nearby Xuchang city said late Sunday that they had arrested members of an alleged "criminal gang" for their suspected involvement in a scheme to gain control of local banks.

Mon, Jul 11, 2022 2 mins read

Tech News

Macau lockdown begins, Hong Kong mulls health code app

Macau casino shares plunged on Monday as the Chinese city embarked on a week-long lockdown to curb its worst coronavirus outbreak while neighbouring Hong Kong said it was mulling a mainland-style health code system.. China uses mandatory health code apps to trace people's movements and coronavirus outbreaks.

Mon, Jul 11, 2022 2 mins read

Tech News

China lockdown worries hit Asian equity, crude markets

Asian markets and oil prices mostly fell Monday with a fresh Covid flare-up in Shanghai fanning fears of another economically painful lockdown in China's biggest city.. With China fixated on its zero-Covid strategy of wiping out the disease, there is increasing concern that authorities will revert to another painful lockdown, with Shanghai residents having only emerged from a two-month confinement in June.

Sun, Jul 10, 2022 3 mins read

Tech News

James Webb Space Telescope opens its eyes on the Universe

Space enthusiasts are holding their breath.. Carina Nebula is famous for its towering pillars that include "Mystic Mountain," a three-light-year-tall cosmic pinnacle captured in an iconic image by the Hubble Space Telescope, until now humanity's premier space observatory.

Sun, Jul 10, 2022 3 mins read

Tech News

French opposition denounces Uber-Macron 'secret deal'

Opposition deputies on Sunday denounced reports of a secret deal between French President Emmanuel Macron -- when he was a minister under a socialist government -- and online transport giant Uber.. Opposition deputies have denounced what they say appears to have been close collaboration between Macron and Uber at a time when the company was trying to get around tight government regulation of their sector.

Sun, Jul 10, 2022 2 mins read

Tech News

Leaked Uber docs reveal bare-knuckle expansion tactics: investigation

A leaked cache of confidential files from ride-sharing app Uber illustrates ethically dubious and potentially illegal tactics the company used to fuel its frenetic global expansion beginning nearly a decade ago, a joint media investigation showed Sunday.. Dubbed "the Uber files," the investigation based on 124,000 records and involving dozens of news organizations, found that early in the San Francisco start-up's history as it looked to conquer new markets, company officials leveraged sometimes violent backlash from the taxi industry against drivers to garner support and evaded regulatory authorities.

Sun, Jul 10, 2022 2 mins read

Tech News

Levelling up the UK: 'I'll believe it when I see it'

In Redcar, northeast England, the remnants of the nearby Teesside Steelworks are an enduring sign of the town's proud former place at the heart of industrial Britain.. Neither neighbour was convinced that places like Redcar can bounce back under Johnson's plans.

Sun, Jul 10, 2022 3 mins read