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Wednesday, January 27, 2021

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Stanley Black & Decker permanently closed its factory in Shenzhen 11/6/2020
The business unit is listed by Stanley Black & Decker as a subsidiary, one of 22 in China as of April 2018.
The economy has only regained half the jobs lost at the beginning of the pandemic 11/6/2020
The job market has been under pressure since the virus paralyzed the economy and has regained barely half the 22 million jobs that were lost to the pandemic in early spring. The pace of rehiring has steadily weakened — from 4.8 million added jobs in June to 661,000 in September.
Britain to release coronavirus vaccine early next month 11/5/2020
Final data on the two vaccine candidates — developed by Oxford University and AstraZeneca and Pfizer and BioNTech — should be available by then.
U.S. to sell military drones to Taiwan 11/5/2020
The State Department said Tuesday it had Ok'd Taiwan’s purchase of four “weapons ready" remotely piloted aircraft and related equipment. The move is likely to infuriate China, which regards Taiwan as a renegade province and has reacted angrily to previous weapons sales' announcements to the island.
Amazon officially put its "Dash Smart" scale pallet for sale 11/5/2020
A year ago, Amazon Business had begun testing a new smart shelf concept — a connected smart scale aimed for keeping office supplies in stock. Testing is now complete, and the B2B e-commerce giant's new Dash Smart Shelf is now available to purchase for Amazon Business customers and consumers.
U.S. one moth trade deficit dipped $63.9 billion 11/5/2020
The gap between what the U.S. sells and what it buys abroad fell to $63.9 billion in September, a decline of 4.7%, from a $67 billion deficit in August, the Commerce Department reported Wednesday. September exports rose 2.6% to $176.4 billion, while imports ticked up 0.5% to $240.2 billion.
Construction and auto sales fuel manufacturing output 11/4/2020
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose by 3.9 percentage-points to a reading of 59.3% last month, up from 55.4% in September.
A federal judge postponed TikTok ban again 11/4/2020
U.S. District Judge Wendy Beetlestone on Friday blocked an upcoming Commerce Department action that would have effectively banned TikTok in the U.S. by cutting it off from vital technical services.
World's largest IPO postponed 11/4/2020
The Shanghai stock exchange cited regulatory changes in Ant's industry and a possible failure to meet disclosure requirements but gave no details.
Mercedes Benz to increase investment in Aston Martin 11/4/2020
Mercedes already owns a tiny chunk of Aston Martin -- about 2.6 percent as it stands -- but the automaker says it plans to increase that stake over the next three years, potentially to as much as 20 percent.
STMicroelectronics to setup MEM R&D fab lines in Singapore 11/3/2020
The 1,300 sq m cleanroom, which will focus on piezoelectric micro-electromechanical system (piezo Mems) technology, is expected to produce its first wafers in the second quarter of next year, and scale up to higher-volume production by end-2022.
Fabless chipmaker MediaTek to spend US$35 million worth of fab tools 11/3/2020
MediaTek plans to spend a total of NT$1.62 billion on machinery equipment, which will be rented to foundry Powerchip Semiconductor Manufacturing.
Pandemic changes this Holiday hiring scheme 11/3/2020
As more shoppers shy away from stores and shift their purchases online during the pandemic, retailers have stepped up the pace of hiring at warehouses. At the same time, they are looking for workers who can handle new tasks like checking temperatures and booking store appointments for shoppers who still want the in-store experience but are jittery about exposure to the coronavirus.
Foxconn appeals the Wisconsin state's denial of job-creation tax credits. 11/3/2020
The Wisconsin Economic Development Corp. earlier this month said Foxconn did not qualify for tax breaks based on capital investments and hiring done in 2019. The state economic development agency determined that Foxconn, the world's leading electronics manufacturer, only hired 281 full-time employees who are eligible to count toward tax credits at its facility in southeastern Wisconsin and made just $300 million in capital expenditures.
U.S. consumers spending rises 11/2/2020
The September gain marked the fifth straight monthly increase in consumer spending, the primary driver of the U.S. economy, since the virus erupted in early spring and flattened the economy. But the recent slight increases reflect an economy weakened by the virus and by the failure of Congress to provide another stimulus package to struggling individuals and businesses.
UMC profit surged 36.4% 11/2/2020
UMC saw its revenue hit a record high of NT$44.87 billion in the third quarter of 2020, when operating profits climbed 22% on quarter to NT$7.13 billion. The foundry utilized 97% of production capacity during the quarter. Gross margin and operating margin arrived at 21.8% and 15.9%, respectively.
Wages and benefits for U.S. workers slows during pandemic 11/2/2020
U.S. workers’ total compensation rose 0.5% in the July-September quarter, the second straight quarter of slower growth in wages, the Labor Department said Friday. Growth was the same as in the April-June quarter. That’s down from 0.8% in the first three months of the year.
Japan's Mitsubishi Heavy Industries to develope stealth fighter 11/2/2020
Japan’s Air Self-Defense Force has a fleet of about 290 fighter jets and is also replacing its F-4 fighters with dozens of F-35s to strengthen its missile deterrence out of concern over North Korea's missiles and nuclear program.
DRAM price erosion starts again 10/30/2020
Samsung Electronics, SK Hynix and Micron Technology all anticipate softer DRAM sales in calendar fourth-quarter 2020 and first-quarter 2021. In Micron's case, it is banned from selling DRAM to Huawei in China due to trade restrictions that went into effect on September 15.
Corporate heir, Lee Jae-yong face tremendous pressure to transform Samsung 10/30/2020
He now faces immense pressure to navigate Samsung's transition beyond its core hardware business into increasingly diverse technologies and services.
Marvell to pay $10.63 billion for Inphi 10/30/2020
Marvell shareholders will own about 83% of the company, with Inphi shareholders owning the remaining 17%. The deal has been approved by both boards and is expected to close by the second half of 2021.
Purina to build new factory in the U.S. 10/30/2020
Purina has announced it will soon begin construction on a $550 million plant in Williamsburg Township, Ohio. Parent company Nestle employs around 3,300 people in Ohio, and this will add another 300 jobs.
U.S. consumer confidence dipped on a new wave of coronavirus cases 10/29/2020
The Conference Board reported Tuesday that its consumer confidence index fell to a reading of 100.9, from 101.8 in September, but still remains well below pre-pandemic levels.
Sony profit double as people play more games during pandemic 10/29/2020
Sony anticipates strong performance for its game division, which has the PlayStation 5 set to go on sale soon. But even its current model and its game software are doing well as the coronavirus pandemic has people around the world staying home. Sony sold 1.5 million PlayStation 4 machines in July-September.
General Electric turns to a surprise profit 10/29/2020
Earnings, adjusted for one-time costs and asset impairment costs, were 6 cents per share. That beat the expectations of analysts surveyed by Zacks Investment Research, who were calling for a loss of 6 cents per share.
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