How ASML sparked a global chip stock sell off Tech Chip equipment maker ASML warned of a slower than expected recovery in the semiconductor market on Tuesday, triggering panic among investors who quickly offloaded stocks across the sector. The company’s quarterly results, accidentally published a day early, revealed orders that were half of what investors had expected. The company also cut its forecast for next [...]
Microsoft: Tech giant announces mammoth buyback and hikes dividend Tech Tech giant Microsoft has announced a new $60bn share buyback programme and hiked its quarterly dividend by 10 per cent. This new shareholder cash return replaces Microsoft’s previous $60bn programme, which was launched in 2021, and has no set expiration date. According to data from Birinyi Associates, the cash return is the third-largest repurchase scheme [...]
Nvidia shares slump despite company’s record-breaking revenue Tech Nvidia shares are down over eight per cent in after hours trading even after it smashed its forecasts and posted record revenue. Revenue for the second quarter hit a new record of $30bn (£22.7bn), up 15 per cent from the first quarter and up 122 per cent from the previous year ago. Nvidia also posted [...]
Intel shares tank after chipmaker announces over 15,000 job cuts August 2, 2024 Intel has said it would cut more than 15 per cent of its workforce as the chipmaker pursues a major turnaround effort.
Intel: £4.2bn deal to buy Israeli chipmaker Tower Semiconductor lapses on China stall August 16, 2023 Intel and Israeli chipmaker Tower Semiconductor have “mutually agreed” to call off their $5.4bn (£4.2bn) deal due to regulatory hurdles from China. In a statement on Wednesday, leading semiconductor manufacturer Intel said it will pay a termination fee of $353m to Tower after the merger failed to get approval from regulators by its 15 August deadline. [...]
UK government’s letter to Visa, Deloitte and Allianz prompts rebuke from Olympic chiefs March 14, 2023 Olympic chiefs have issued a rebuke to the UK government over its lobbying of sponsors including Visa, Deloitte and Allianz for Russia to remain banned from sport. The UK has been among the most vocal and active opponents of the International Olympic Committee’s plan to lift the suspension of Russia and its ally Belarus. Culture [...]
Intel to cull thousands of jobs amid sales slowdown October 12, 2022 Intel is set to cull thousands of staff as the chipmaker attempts to fight off a sales slowdown. According to initial reports from Bloomberg, the layoffs will be announced as early as this month, slimming back its 113,700 global headcount. Sources told the publication that the sales and marketing teams could see as many as [...]
Mobileye gears up for Nasdaq return after Intel files for US float March 7, 2022 Chipmaker Intel said its self-driving car unit, Mobileye, has confidentially filed paperwork for an initial public offering in the US. As first reported by Reuters, US technology giant Intel did not give further details about the potential float of Mobileye, but did state that there was an increasing pressure on Intel chief exec Pat Gelsinger to spin [...]
Samsung and Intel weather chip shortages hitting record sales January 27, 2022 Samsung and Intel recorded another quarter of record sales in the final three months of 2021, as both companies weather the supply chain storm. South Korean giant Samsung’s profit climbed 65.13 per cent from the previous year, reflecting the expanded sales of premium smartphones, including foldable phones, as well as TVs and home appliances. Operating [...]
12 years later: EU court annuls Intel’s £886m antitrust fine January 26, 2022 Intel has won an appeal against a €1.06bn (£886m) EU antitrust fine that was handed to the company 12 years ago in a momentous win for tech firms.