Economists fear that the coronavirus pandemic has ushered in a new era of inflation disparity, with poor people bearing the brunt of growing prices. This is because a larger amount of their budget is allocated to cost-increasing areas. Food, for… Read More ›
Day: December 30, 2021
Covid Lockdown In China’s Xian May Interrupt Memory Chip Production, Warns Samsung, Micron
Two of the world’s leading memory chip manufacturers, Samsung Electronics and Micron Technology, have cautioned that tight Covid-19 restrictions in the Chinese city of Xian may interrupt their chip production operations. The city’s closure adds to an already difficult year… Read More ›
Global chip shortage should end by 2022: BMW CEO
In an interview to German daily Muenchner Merkur, BMW’s CEO Oliver Zipse said, the carmaker plans on creating up to 6,000 new jobs in 2022 as it prepares to meet heightened demand for its electric vehicles. “BMW is on a… Read More ›
Sk Hynix completes 1st phase of acquisition of Intel’s NAND flash memory chip business
In a statement South Korean chipmaker SK Hynix Inc said, it had completed the first phase of its acquisition of Intel Corp’s NAND flash memory chip business, having received regulatory nods from eight countries. The acquisition, which was signed in 2020, will… Read More ›
SpaceX raises $337.4M in new equity financing
In a regulatory filing SpaceX reported that it had raised $337.4 million in equity financing. Earlier this year in October, SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, touched $100 billion in valuation following a secondary sale of… Read More ›
China Evergrande Group’s shares fall after it fails to pay offshore coupons
China Evergrande Group’s shares tumbled on Thursday after the crisis-hit real estate developer failed to pay offshore coupons due earlier this week. Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier… Read More ›