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| SMIC reports foundry revenue and profit up |
8/31/2020 |
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SMIC disclosed in its mid-year financial report that revenue surged 29.4% on year to CNY13.16 billion (US$1.92 billion) in the first half of 2020, with gross margin climbing 2.5pp from a year earlier to 23.5%. The company generated net profits of CNY1.39 billion, up a robust 329.8% from the same period in 2019.
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| White House is looking for ways to ease airline furloughs |
8/28/2020 |
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President Donald Trump's chief of staff, Mark Meadows, said Wednesday that "if Congress is not going to work, this president is going to get to work and solve some problems. So hopefully we can help out the airlines and keep some of those employees from being furloughed.”
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| Fed to keep interest rate near zero and loosen allowance for inflation |
8/28/2020 |
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The change means the Fed is prepared to tolerate a higher level of inflation than it generally has in the past. And it means that borrowing rates for households and businesses — for everything from auto loans and home mortgages to corporate expansion — will likely remain ultra-low for years to come.
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| U.S. GDP shrank 31.7% in Q2 |
8/28/2020 |
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The U.S. economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest quarterly drop on record.
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| American Airlines to cut 40,000 jobs |
8/27/2020 |
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The airline said 23,500 employees have accepted buyouts, retired early or taken long-term leaves of absence, but that was not enough to avoid involuntary cuts.
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| A secretive data mining company going public |
8/27/2020 |
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It also indicated it is on track to exceed $1 billion in annual revenues. It cited revenues of $481 million for the first half of 2020, up 49% from the year-ago period. Its 2019 revenues of $746 million were up 25% from the previous year
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| U.S. consumer confidence fell |
8/26/2020 |
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The Conference Board, a New York-based research organization, reported Tuesday that its Consumer Confidence Index declined to a reading of 84.8 in August, down from 91.7 in July.
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| Tim cook continue to carry on Steve Jobs visions |
8/25/2020 |
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Initially seen as a mere caretaker for the iconic franchise that Jobs built before his 2011 death, Cook has forged his own distinctive legacy. He will mark his ninth anniversary as Apple’s CEO Monday -- the same day the company will split its stock for the second time during his reign.
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| Oil and Gas companies continue to fall |
8/25/2020 |
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Law firm Haynes and Boone counted nearly 500 bankruptcies among oil and gas companies since 2015, with 60 so far this year, and 18 filings in July alone.
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| There is not enough laptops for back-to-school |
8/25/2020 |
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The world’s three biggest computer companies, Lenovo, HP and Dell, have told school districts they have a shortage of nearly 5 million laptops, in some cases exacerbated by Trump administration sanctions on Chinese suppliers.
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| DRAM Capex fall for being cautious on coming market |
8/24/2020 |
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Samsung, SK Hynix and Micron Technology - are expected to make further cuts in their DRAM capital spending in 2020 as most new facilities and upgrades to current fabs are in place to handle near-term demand, IC Insights indicated. Samsung's DRAM capital expenditure budget will decline 21% to US$4.9 billion this year, while SK Hynix will trim its DRAM capex budget 38% to US$4 billion. Micron is expected to cut its DRAM capex by 16% this year to US$3.6 billion.
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