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☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ Sony to lay off 900 at PlayStation as tough times for the games industry persist
▼ + stars: | 2024-02-27 | by ( Michael Nam | ) edition.cnn.com time to read: +2 min

New York CNN —Electronics giant Sony announced on Tuesday that it will be cutting 900 jobs, or 8%, in PlayStation’s global workforce. The layoffs will impact all regions for Sony Interactive Entertainment, according to the PlayStation press release, with its in-house London studio, responsible for the competitive singing video game “Singstar,” closing entirely. “These are incredibly talented people who have been part of our success, and we are very grateful for their contributions,” wrote Jim Ryan, president and CEO of Sony Interactive Entertainment. Ryan had already announced in September plans to retire in March as Sony Group Corporation president. Specifically, the video game industry has been seeing jobs hemorrhage from 2023 into this year as well, with Epic Games cutting 830 jobs last September and Tencent’s Riot Games laying off 11% of its workforce in January.

Persons: ”, Jim Ryan, Naomi Matsuouka, Ryan, Hiroki Totoki Organizations: New, New York CNN — Electronics, Sony, Sony Interactive Entertainment, PlayStation, London, Bloomberg, Sony Group Corporation, Epic Games, Riot Games, SONY Locations: New York

☆ Space photos from 5 recent moon-landing missions show how tiny engineering errors can cause big problems, like crashing or landing sideways
▼ + stars: | 2024-02-27 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

The Houston-based company's uncrewed Odysseus lander was almost lost to one of the tiniest possible mistakes. The view from the Intuitive Machines Odysseus lander as it descended to its landing site. Intuitive MachinesWith less than two hours to go before landing, Intuitive Machines engineers frantically whipped up a new navigation system. Indeed, several robotic moon landing attempts have crashed or otherwise malfunctioned in the last few years. Similarly, Intuitive Machines' success on Thursday shows that small errors don't necessarily have to spell the end of a mission.

Persons: Steve Altemus, Trent Martin, Odysseus, Astrobotic —, Peregrine, Astrobotic Astrobotic, Astrobotic, Vikram, SpaceNews, Robert Braun, Kailasavadivoo Sivan, ispace, NASA's, Braun, Japan's Smart Lander, SLIM, LEV, Takara Tomy Organizations: US, Business, NASA, Reconnaissance, Goddard, Arizona State University, Johns Hopkins Applied Physics Laboratory, NASA's Goddard Space Flight, freefall, JAXA, Takara, Sony Group Corporation, Doshisha Locations: India, Japan, Houston

☆ Zee founder family to eventually lift stake to 26%, according to reports
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +1 min

Logos of Zee Entertainment Enterprises Ltd. displayed on computer screens arranged in Mumbai, India, on Tuesday, Jan. 9, 2024. Zee Entertainment founder Subhash Chandra's family will eventually lift their stake in the media house to 26% from 4% currently, Mint reported on Monday, days after a merger with Sony 's India unit collapsed. "I have advised my immediate and extended family to increase their shareholding in Zee... We eventually want to go back to 26%, but it will take time," Chandra told Mint, a business daily, in an interview. Chandra, who set up Zee in 1992 and is often dubbed the "Father of Indian Television", is now chairman emeritus at Zee. Chandra, who is Goenka's father, told Mint "Punit is the right person to run the company and there is no problem with Zee."

Persons: Subhash Chandra's, Zee, Chandra, Punit Goenka, Goenka, Mukesh Ambani's Organizations: Zee Entertainment Enterprises, Zee, Sony Group Corp, Zee Entertainment, Mint, Sony, Indian, Walt Disney, India Locations: Mumbai, India, Zee .

☆ Sony facing $7.9 bln mass lawsuit over PlayStation Store prices
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsCompanies Sony Group Corp FollowLONDON, Nov 21 (Reuters) - Sony (6758.T) must face a mass lawsuit worth up to 6.3 billion pounds ($7.9 billion) over claims the PlayStation maker abused its dominant position leading to unfair prices for customers, a London tribunal ruled on Tuesday. Sony Interactive Entertainment (SIE) was sued last year on behalf of nearly nine million people in the United Kingdom who had bought digital games or add-on content through Sony's PlayStation Store. Alex Neill, a consumer advocate who has worked on previous campaigns, is bringing the case against Sony. She says the company abused its dominant position by requiring digital games and add-ons to be bought and sold only via the PlayStation Store, which charges a 30% commission to developers and publishers. The claim alleges customers have therefore paid higher prices for games and add-on content than they would have done.

Persons: Issei Kato, Alex Neill, Neill, they're, Sam Tobin, Aurora Ellis Organizations: Sony, REUTERS, Sony Group, Sony Interactive Entertainment, PlayStation, Thomson Locations: Tokyo, Japan, London, United Kingdom

☆ Goldman Sachs says this global tech stock will soar as 'gaming-as-a-service' takes off
▼ + stars: | 2023-10-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors seeking exposure to Japan's growing gaming industry should look at technology and entertainment behemoth Sony , according to Goldman Sachs. Goldman expects shares of Sony Group Corporation to rise by 25% to 16,000 yen ($107) over the next 12 months. In addition, Goldman Sachs said there was significant growth potential for Crunchyroll, Sony's anime streaming service based in California, which it acquired in 2017. "Our team estimates that overseas markets will account for 80% of Japanese anime sales by 2036," the bank's report said. As earnings contributions from Crunchyroll and GaaS titles become more apparent starting in fiscal year 2025, Goldman Sachs sees an increase in consensus earnings estimates and valuation multiples.

Persons: Goldman Sachs, FactSet Organizations: Sony, Bungie, Goldman, Sony Group Corporation, New York Stock Exchange, SONY, Microsoft, Activision Blizzard Locations: Tokyo, California

☆ Japan's Sony says Zee merger to be delayed by a few months
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Zee Entertainment and SONY logos are displayed in this illustration taken, September 1, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 29 (Reuters) - Japan's Sony Group Corp (6758.T) said on Friday a merger of its Indian unit with Zee Entertainment Enterprises (ZEE.NS), which had an initial deadline of September, would take a few more months to complete. "Based on the current state of preparation, we expect completion within the next few months," Sony said in a statement, without elaborating further. It was delayed due to issues including a legal battle with lenders over loan defaults by a Zee group entity. Zee shares, which have lost about a quarter of their value since the merger was announced in 2021, were up 2.7% on Friday.

Persons: Dado Ruvic, Punit Goenka, Zee, Ashna Teresa Britto, Chris Thomas, Dhanya Ann Thoppil, Sohini Organizations: Zee Entertainment, SONY, REUTERS, Sony Group Corp, Zee Entertainment Enterprises, Sony, Zee, Securities and Exchange Board, India, Finance, Thomson

☆ Sony gaming chief Jim Ryan to retire, group president to be interim head
▼ + stars: | 2023-09-27 | by ( Sam Nussey | ) www.reuters.com time to read: +1 min

Inside a GameStop store Sony PS5 gaming consoles are pictured in the Manhattan borough of New York City, New York, U.S., November 12, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsCompanies Sony Group Corp FollowTOKYO, Sept 28 (Reuters) - Sony Group (6758.T) said on Thursday its gaming chief Jim Ryan would retire next March, with group President Hiroki Totoki to become interim CEO during the search for a successor. Ryan, who is British, become CEO of Sony Interactive Entertainment (SIE) in 2019 and oversaw initiatives including the launch of the PlayStation 5 console the following year. "Jim no longer wants to manage the tradeoff between having a job in the U.S. and a home in the UK," SIE said in a statement. Reporting by Sam Nussey; Editing by Jamie Freed and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Jim Ryan, Hiroki Totoki, Ryan, Jim, SIE, Sam Nussey, Jamie Freed, Aurora Ellis Organizations: GameStop, Sony, REUTERS, Sony Group Corp, Sony Group, Sony Interactive Entertainment, PlayStation, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Sony PlayStation 5 console sales pass 40 million
▼ + stars: | 2023-07-27 | by ( Sam Nussey | ) www.reuters.com time to read: 1 min

TOKYO, July 27 (Reuters) - Sony Group Corp (6758.T) has sold more than 40 million PlayStation 5 consoles, its gaming division said on Thursday, citing the easing of supply chain problems. "It took months for supply chains to normalise so we could have the inventory to keep up with demand," Sony Interactive CEO Jim Ryan wrote in a blog post. "Now PS5 supply is well-stocked and we are seeing that pent up demand finally being met." The Japanese tech and entertainment conglomerate has said it expects to sell 25 million PS5 units this year, which would be a record for any PlayStation device. Sony's latest console is closing the gap with the PS4 console, said Piers Harding-Rolls, analyst at Ampere Analysis.

Persons: Jim Ryan, Piers Harding, Sam Nussey, David Goodman Organizations: Sony Group Corp, Sony Interactive, Ampere Analysis, Thomson Locations: TOKYO

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. Nonetheless, Microsoft, which makes the Xbox gaming console, has been seeking the contract extension to ensure that Activision is not wooed by another potential acquirer or has a change of heart, the source said. The terms of the extension under negotiation and whether it would come with more financially advantageous terms for Activision could not immediately be learned. Microsoft and Activision did not immediately respond to requests for comment. Microsoft and Activision are negotiating potential remedies with the Competition and Markets Authority (CMA) which they hope will appease its antitrust concerns.

Persons: Dado Ruvic, Anirban Sen, Matthew Lewis, Stephen Coates Organizations: Microsoft, Activision, REUTERS, Microsoft Corp, Competition, Markets Authority, CMA, Sony Group, Sony, U.S . Federal, Thomson Locations: Britain, U.S, New York

☆ FTC to argue Microsoft's deal to buy Activision should be paused
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 22 (Reuters) - The U.S. Federal Trade Commission on Thursday will argue in federal court for a preliminary injunction to temporarily block Microsoft's acquisition of videogame maker Activision Blizzard, stopping the deal from closing before the government's case against the deal is heard. But if the court pauses the deal, Microsoft and Activision will have to agree to extend it past a July 18 termination date built into their original agreement. The FTC fears that without action by the federal court, the combined firm "could alter Activision's operations and business plans" and could allow Microsoft to access sensitive business information. Resolving the U.S. lawsuit is one of several key antitrust battles Microsoft and Activision have fought around the world to get the deal finalized. Microsoft CEO Satya Nadella and Activision CEO Bobby Kotick are among the witnesses planned for a five-day evidentiary hearing.

Persons: Satya Nadella, Bobby Kotick, Chris Sanders, Leslie Adler Organizations: U.S . Federal Trade Commission, Activision, Microsoft, Microsoft Corp, Activision Blizzard Inc, FTC, EU, Nintendo, Sony Group, Sony, Thomson Locations: San Francisco

☆ Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger
▼ + stars: | 2023-06-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The FTC is seeking a preliminary injunction to block Microsoft from completing its $69 billion acquisition of Activision Blizzard. The FTC has argued the transaction would give Microsoft's video game console Xbox exclusive access to Activision games, leaving Nintendo (7974.T) consoles and Sony Group Corp's (6758.T) PlayStation out in the cold. Microsoft's bid to acquire the "Call of Duty" video game maker was approved by the EU in May, but British competition authorities blocked the takeover in April. The FTC is calling Nadella to testify about the video game industry, Microsoft Gaming’s strategy and business and the planned Activision acquisition, while Microsoft is calling him to testify about similar topics. Also testifying are two executives from Nvidia Corp.Microsoft Chief Financial Officer Amy Hood, Microsoft Gaming CEO Phil Spencer and Microsoft Gaming CFO Tim Stuart are also scheduled to testify, as are a number of expert witnesses.

Persons: Satya Nadella, Bobby Kotick, Nadella, James Ryan, Dov Zimring, Amy Hood, Phil Spencer, Tim Stuart, David Shepardson, Chris Reese Organizations: Microsoft, Activision Blizzard, Federal Trade, FTC, Activision, Nintendo, Sony Group, EU, Sony Interactive Entertainment, Google, Nvidia Corp, Thomson

☆ US FTC asks court to block Microsoft acquisition of Activision
▼ + stars: | 2023-06-12 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

June 12 (Reuters) - The Federal Trade Commission asked a court to temporarily block Microsoft Corp's (MSFT.O) acquisition of Activision Blizzard (ATVI.O) on Monday, seeking to halt the deal from closing before the government's case against the $69 billion deal is heard. The FTC said Microsoft and Activision had signaled the deal could close as soon as Friday and asked a federal judge to block any final agreement before 11:59 p.m ET June 15. Shares in Microsoft closed up 1.5% Monday, while Activision fell 0.8%. "We welcome the opportunity to present our case in federal court," said Microsoft president Brad Smith in a statement. When announcing the deal in January 2022, Microsoft said they expected it would close in their 2023 fiscal year, which ends in June.

Persons: Brad Smith, Joe Biden, Rami Ayyub, David Shepardson, Doina Chiacu, Nick Zieminski, Conor Humphries, Anna Driver Organizations: Federal Trade Commission, Microsoft, Activision Blizzard, FTC, Activision, Nintendo, Sony Group, EU, Sony, U.S, Thomson Locations: Washington

☆ US FTC seeks court order to block Microsoft acquisition of Activision -source
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - The U.S. Federal Trade Commission will seek a court order to block Microsoft Corp's (MSFT.O) acquisition of Activision Blizzard (ATVI.O), a source familiar with a planned court filing said on Monday. Shares in Microsoft rose 0.8% Monday, while Activision fell 0.5%. The FTC plans to make the filing seeking the order in the Northern District of California, the source said. "We welcome the opportunity to present our case in federal court," said Microsoft president Brad Smith in a statement. But antitrust experts say the FTC faces an uphill battle to convince a judge to block the deal because of the voluntary concessions offered by Microsoft to allay fears it could dominate the gaming market.

Persons: Brad Smith, Joe Biden, Rami Ayyub, David Shepardson, Doina Chiacu, Nick Zieminski, Conor Humphries Organizations: U.S . Federal Trade Commission, Microsoft, Activision Blizzard, FTC, Activision, Nintendo, Sony Group, EU, Northern District of, Sony, U.S, Thomson Locations: Northern District, Northern District of California, Washington

☆ Apple to sell Vision Pro AR headset for triple Meta's top-line price
▼ + stars: | 2023-06-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +6 min

[1/4] People use cameras as Apple's Vision Pro headsets are on display at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. Apple's headset will be available early next year in the U.S. with more countries coming later in 2024. The Vision Pro has two hours of use with an external battery, which Apple said would reduce the weight on the user's head. Investors and tech fans alike are focused on how much Apple's view of the virtual reality market overlaps with Meta's. In addition to Meta, Sony Group Corp (6758.T) and ByteDance-owned Pico both recently released virtual reality devices.

Persons: Loren Elliott CUPERTINO, Apple, Alan Dye, Tim Cook, Walt Disney's, Mark Zuckerberg, there's, John Ternus, Apple's, Craig Federighi, Stephen Nellis, Yuvraj Malik, Dawn Chmielewski, Katie Paul, Peter Henderson, Aditya Soni, Lisa Shumaker Organizations: Developers, REUTERS, Apple Inc, Pro, Apple, Vision, Reuters, Adobe, Microsoft, Unity, Meta, Sony Group Corp, Pico, Research, IDC, Mac Pro, Mac, Intel, Thomson Locations: Cupertino , California, U.S, Loren Elliott CUPERTINO , California, Bengaluru, Dawn, Los Angeles, New York

☆ Apple expected to reveal mixed-reality headset at developer conference
▼ + stars: | 2023-06-05 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

CUPERTINO, California, June 5 (Reuters) - Apple Inc (AAPL.O) is expected to unveil a mixed-reality headset at its annual software developer conference on Monday, its first big move into a new product category since the introduction of the Apple Watch nine years ago. Like Meta's Quest Pro from last year and Quest 3 announced last week, Apple's device is likely to blend a video feed from the outside world with a virtual world displayed on screens inside the headset. Investors and tech fans alike will be focusing on how much Apple's view of the virtual reality market overlaps with Meta's. In addition to Meta, Sony Group Corp (6758.T) and ByteDance-owned Pico both recently released virtual reality devices. Investors will also look for updates on CarPlay, Apple's software for vehicles, which the company said last year would start to power more dashboard functions.

Persons: It's, Mark Zuckerberg, Stephen Nellis, Edwina Gibbs Organizations: Apple Inc, Apple Watch, Apple, Facebook, Meta, Meta's, Quest, Sony Group Corp, Pico, Research, IDC, Apple Park, Thomson Locations: CUPERTINO , California, San Francisco

☆ In challenge to Meta, Apple expected to unveil mixed-reality headset
▼ + stars: | 2023-06-02 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

"Meta and Apple are competing with each other. The difference is that Meta is doing it publicly, while Apple is doing it privately," said Anshel Sag, principal analyst at Moor Insights & Strategy. Analysts say that the Apple device, which Bloomberg has reported could cost near $3,000 and look like a pair of ski goggles, is a place holder of sorts. While Meta has products on the market, Apple has major advantages in defining the emerging field among software developers, said Jitesh Ubrani, a research manager who tracks the XR market at IDC. "And Apple is in a much better position to give you an experience that works across devices than Meta is."

Persons: Tim Cook, Mark Zuckerberg, Zuckerberg, Greg Joswiak, iPhones, Sag, Ben Bajarin, Meta, Jitesh Ubrani, Ubrani, Stephen Nellis, Peter Henderson, Matthew Lewis Organizations: FRANCISCO, Apple Inc, Apple, Worldwide Developers, Meta, Moor, Strategy, Analysts, Bloomberg, Sony Group Corp, Quest, Creative, IDC, San, Thomson Locations: California, Cupertino , California, Silicon Valley, San Francisco

☆ Sony eyes finance unit listing, doubles down on entertainment
▼ + stars: | 2023-05-18 | by ( Sam Nussey | ) www.reuters.com time to read: +3 min

Sony said it is considering a time frame of two to three years to spin off Sony Financial Group - whose operations include life insurance and banking - with an eye to listing the business and retaining a stake of slightly under 20%. The conglomerate is pursuing synergies between its business lines, which include video games, music and movies. A partial spin-off of Sony Financial, which the group said was made possible by changes in tax rules, would allow the newly listed business to retain Sony branding. The finance business reported a 5% fall in revenue to 1.45 trillion yen ($10.74 billion) in the year ended March. Sony CEO Kenichiro Yoshida said he recently watched the movie in Tokyo and used to play "Super Mario" too.

☆ Sony eyes listing for heavyweight finance unit
▼ + stars: | 2023-05-18 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

Sony said at a strategy briefing it is looking at listing Sony Financial Group, whose operations include life insurance and banking, and retaining a stake of slightly less than 20%. The announcement comes just three years after Sony took full control of the business in a $3.7 billion transaction. The financial unit reported a 5% decline in revenue to 1.45 trillion yen ($10.74 billion) in the year ended March. Operating profit rose 49% to 223.9 billion yen following one-off gains from a real estate sale. Sony shares were up 6% in Tokyo morning trade, a day after the group announced a buyback of up to 2.03% of its shares.

☆ Sony shares tumble on weaker-than-expected annual outlook
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 1 (Reuters) - Sony Group Corp's (6758.T) shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate's annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and microchip units. For the current business year, however, it projected a 3.2% profit decline to 1.17 trillion yen ($8.55 billion), missing an analysts average estimate of a 1.275 trillion yen profit, as it expects slow recovery in profitability in the videogame unit. Jefferies analyst Atul Goyal said in a note to clients Sony's outlook "is overly conservative," and that its PlayStation 5 (PS5) game consoles and game software are likely to benefit from pent-up demand. The conglomerate aims to sell a record 25 million units of the PS5 in the year to next March.

The Japanese company said it expects operating profit in the year to March 31 to fall 3.2% to 1.17 trillion yen ($8.65 billion), lower than an analysts' average estimate of a 1.275 trillion yen profit, according to Refinitiv data. For this business year, the company forecast profit at its gaming and network unit to rise by 8% to 270 billion yen. Software sales ought to have grown in tandem with hardware," Yasuda said. Sony also predicted that image sensor operating profit will dip by 5.8% to 200 billion yen. The firm said overall operating profit for the three months that ended March 31 fell 7.3% to 128.5 billion yen, with full year profit nudging up to a record 1.21 trillion yen.

[1/6] Takeshi Hakamada, "ispace" 's founder and chief executive, is pictured at a venue to watch landing of the lander in HAKUTO-R lunar exploration program on the Moon, in Tokyo, Japan, April 26, 2023. But a lunar landing would be an ambitious feat for a private firm. The Japanese firm "determined that there is a high probability that the lander eventually made a hard landing." In disclosure to the Tokyo Stock Exchange, ispace said it did not expect an immediate impact on its earnings forecast. The lander completed eight out of 10 mission objectives in space that will provide valuable data for the next landing attempt in 2024, Hakamada said.

OAKLAND, California, April 19 (Reuters) - Chip manufacturer GlobalFoundries Inc (GFS.O) said on Wednesday it had filed a lawsuit against International Business Machines Corp (IBM.N), accusing it of unlawfully sharing confidential intellectual property and trade secrets. New York-based GlobalFoundries said in its complaint that IBM had shared IP and trade secrets with Rapidus, a new state-backed Japanese consortium that IBM is working with to develop and produce cutting-edge two-nanometre chips. It also asserted that IBM had unlawfully disclosed and misused its IP with Intel Corp (INTC.O), noting that IBM had announced in 2021 it would collaborate with Intel on next-generation chip technology. "IBM is unjustly receiving potentially hundreds of millions of dollars in licensing income and other benefits," GlobalFoundries said in a statement. GlobalFoundries is seeking compensatory and punitive damages as well as an injunction against IBM to stop using the trade secrets.

☆ Japan to add $2.3 billion subsidy to Rapidus for Chitose chip plant, media report
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 10 (Reuters) - Japan's industry ministry is finalising a plan to provide state-backed chip maker Rapidus an additional 300 billion yen ($2.27 billion) in funding to build a semiconductor plant in the northern island of Hokkaido, a local paper reported on Saturday. Rapidus, which in February picked Chitose, near Sapporo, as the site for a cutting-edge two-nanometre chip factory, previously secured an initial 70 billion yen funding from the government. The additional grant will be used to help Rapidus build a prototype line scheduled to launch in 2025, the Hokkaido Shimbun paper said, citing multiple unidentified sources. The Japanese government is also offering up to 476 billion yen in subsidies to a Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) plant in Kyushu, in which Sony Group Corp (6758.T) and Denso Corp (6902.T) each have a minority stake. ($1 = 132.3100 yen)Reporting by Kantaro Komiya; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Want Better Customer Service? Join the (Membership) Club
▼ + stars: | 2023-03-01 | by ( Katie Deighton | ) www.wsj.com time to read: +7 min

Others such as online travel agent Booking.com and Sony Group Corp.’s PlayStation provide priority customer service for high-ranking members of their loyalty programs. Other companies that offer premium customer support also say the perk is often a small part of more comprehensive packages, and that its introduction doesn’t mean their standard customer service is lacking. “We’ve always provided fantastic customer service, but what we added was another layer on top of that,” said Genaro Perez, senior vice president of marketing for P.F. Other companies offer priority customer service to customers who have ascended to the upper tiers of loyalty programs that do not cost extra to join. The strategy may help profits, but could create the perception that “free” customer service is low-quality and amplify inequality by deprioritizing lower-income customers, she said.

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