BUSINESS
Samsung's Q3 earnings outlook grim amid poor global chip demand
According to the analysis by Yonhap Infomax of earnings outlooks for the two companies by securities companies within the past month, Samsung and SK hynix were expected to record operating profits of 12.8 trillion won ($9.07 billion) and 2.59 trillion won on a consolidated basis during the June-September period, respectively.
Elon Musk allowed to make a case regarding Twitter's payment to Zatko
Judge Kathleen McCormick of the Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, ruled in a latest filing that Musk can amend his counterclaims to include the payment to Zatko. The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
US pension funds brace for grim results from investments in private equity
"You should expect sometime over the next three to four quarters to see write-downs in the illiquid part of the portfolio," Allan Emkin, a consultant to large pension funds with Meketa Investment Group, told the board of the $300 billion California State Teachers' Retirement System last month, the report said.
Mobile app soon to provide real time data on charging stations
According to sources privy to developments, the app and web portal will provide real time information to motorists on the move, about the nearest active charging stations available on their route. BEE is the central nodal agency for developing these softwares and work on this is expected to be completed soon, sources informed further. Power Ministry had issued guidelines for developing these softwares in January this year.
At 264%, India logs fastest growth in global IoT module market
Although growing on a lower base, the growth in IoT modules in India was driven by smart meters, telematics, point of sale (POS) and automotive applications, according to Counterpoint Research. Global cellular IoT module shipments grew 20 per cent (year-over-year) in Q2 2022. "The IoT module market is going through a critical phase where the Chinese brands have become bigger, making it very difficult for international brands to grow in silos," said senior research analyst Soumen Mandal.
DRAM chip prices forecast to drop 13-18% in Q4 2022
Research firm TrendForce said rising inflation has significantly weakened the appetite for consumer products, likely to put cold water on the year-end holiday shopping demand. Lower demand, it said, would lead to DRAM's bigger price drops from the 10-15 per cent it had forecast for the third quarter, reports Yonhap news agency. DRAM is a type of volatile semiconductor memory that retains data as long as power is supplied. It is commonly used in personal computers, workstations and servers.
Global investors view Shehbaz's appeal as sign of imminent default on foreign debt
The global bond investors interpreted the prime minister's appeal as an indicator that the country was going to default on foreign debt repayments. Islamabad is scheduled to repay $1 billion against a maturing Sukuk on December 5, 2022, The , Express Tribune reported. The prices of any country's bonds plunge and their yields - the rate of return - soar while they are facing a financial crisis and vice versa.
Will PM Modi launch 5G services in India on Oct 1?
However, the tweet disappeared within no time from the NBM handle on the micro-blogging platform. "Taking India's digital transformation & connectivity to new heights, Hon'ble PM, @narendramodi, will roll out 5G services in India; at India Mobile Congress; Asia's largest technology exhibition," read the screenshot of the tweet.
UK pound falls to 37-yr low against US dollar
On Friday, the pound tumbled more than 3 per cent and traded below $1.10, reaching its lowest level since 1985, reports Xinhua news agency. The big sell-off came after Chancellor Kwasi Kwarteng had earlier in the day unveiled his ambitious plan to cut taxes and boost economic growth.
Dow plunges to its lowest level since 2020
The Dow closed 483 points, or 1.6 per cent, lower during Friday's trading, marking its lowest level since November 2020, CNN reported. The S&P 500 and the Nasdaq Composite were down 1.7 per cent and 1.8 per cent, respectively.
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