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☆ Nvidia remains a little-known brand despite briefly passing Apple, Microsoft in market cap
▼ + stars: | 2024-06-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

The other is Nvidia , which for a time this week, surpassed Microsoft to become the largest company in the world by market cap. Nvidia has over 80% of the market for chips used to train and deploy AI software like ChatGPT. 100 on Interbrand's list for 2023 is Japanese camera maker Canon, with Dutch brewer Heineken at No. The risk for Nvidia, Silverman added, is that its "weak brand strength will limit how valuable it will be, despite its market cap heights." Gamers love itHowever, a competing survey shows that Nvidia's brand value is catching up to that of its peers.

Persons: Jensen Huang, Ann Wang, —, Greg Silverman, Interbrand's, Silverman, Interbrand, Kantar BrandZ, Marc Glovsky, Philip Fong Organizations: Reuters Apple, Microsoft, Google, Nvidia, Disney, Netflix, Heineken, Apple, Windows, Samsung, Toyota, Mercedes, Benz, BMW, Nike, Intel, Hewlett Packard Enterprise, CNBC, Nintendo, AFP, Getty, chipmaker, Dell, Vanda Research Locations: Taipei, Taiwan, Korean

☆ Cramer: The 'proximate cause' of Super Micro's 23% drop Friday? Go back to March 8
▼ + stars: | 2024-04-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

At law school, we learned about "proximate cause," one of the few valuable concepts you can take from three years of drudgery. But was that the proximate cause? No, the real proximate cause, the one that's really at fault, was the February unemployment report, which came out on March 8. At the time, many thought the proximate cause of Nvidia's pirouette was the performance of two chipmaker peers. Surely those two updates couldn't be the proximate cause of the peak of Nvidia, right?

Persons: It's, Let's, pirouette, Matt Murphy, Jay Powell, Powell, Zeus, Biden, Jim Umpleby, ferociously, Jeff Marks, Morgan Stanley, haven't, Mills, Jim Cramer's, Jim Cramer, Jim, Ann Wang Organizations: Nvidia, hasn't, Marvell Technology, Club, Broadcom, Marvell, Federal, Caterpillar, Microsoft, Nasdaq, Apple, Procter, Gamble, Jim Cramer's Charitable, CNBC, Micro Locations: It's, what's, Wells Fargo, Taipei, Taiwan

☆ Nymphia Wind: Taiwan president sends congratulations for ‘RuPaul’s Drag Race’ win
▼ + stars: | 2024-04-21 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Taipei, Taiwan — Taiwan President Tsai Ing-wen on Saturday offered her congratulations to Taiwanese drag queen Nymphia Wind for winning “RuPaul’s Drag Race,” the first person from East Asia to take the crown. “Congratulations to you, Nymphia Wind, for being so accomplished in the difficult art form of drag, and for being the first Taiwanese to take the stage and win on ‘RuPaul’s Drag Race’,” Tsai wrote on Instagram in English. “Right after being crowned queen, you said ‘Taiwan, this is for you.’ Taiwan thanks you for living fearlessly.”Nymphia Wind and other drag queens prepare for a performance in Taipei on October 21, 2023. Stars from “Drag Race,” which has just ended its 16th season, also come to Taiwan to perform. Ann Wang/ReutersTaiwan’s openness on LGBTQ+ issues stands in marked contrast with its giant neighbor China, which claims the island as its own territory.

Persons: Tsai Ing, Tsai, ” Tsai, Ann Wang, Lai Ching, Taiwan’s Organizations: Democratic Progressive Party, DPP, Reuters, Pride Locations: Taipei, Taiwan, East Asia, Asia, East, China

☆ These were our 4 best — and 4 worst — portfolio stocks in the first quarter
▼ + stars: | 2024-03-29 | by ( Morgan Chittum | ) www.cnbc.com time to read: +9 min

The winners NVDA YTD mountain Nvidia (NVDA) year-to-date performance Nvidia came in No. META YTD mountain Meta Platforms (META) year-to-date performance Meta Platforms climbed 37.2% in the first quarter, coming in at second place within the portfolio. The laggards AAPL YTD mountain Apple (AAPL) year-to-date performance Apple suffered the most first-quarter losses in the portfolio, slumping 10.9% during the period. FL YTD mountain Foot Locker (FL) year-to-date performance Shares of Foot Locker declined 8.5% in the first quarter, making the sneaker retailer the second-worst-performing stock in the portfolio. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Palo Alto Networks stock fell 3.7% during the first quarter, rounding out No.

Persons: Dow, chipmaker, It's, Instagram, Meta's, Jim Cramer, Walt Disney, Nelson Peltz, Jim, Peltz's Trian, Eli Lilly, LLY, Eli Lilly's, Apple, Locker's, Locker, Jim Cramer's, Jensen Huang, Ann Wang Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Facebook, Wall, DIS, Walt Disney, Peltz, Peltz's Trian Partners, Disney, U.S, Department of, Apple, Evercore ISI, Citigroup, Nike, Starbucks, Palo Alto Networks, Palo, Jim Cramer's Charitable, CNBC Locations: China, Seattle, U.S, Palo, Taipei, Taiwan

☆ Nvidia lives up to the earnings hype and then some, prompting our big price target hike
▼ + stars: | 2024-02-21 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

NVDA 5Y mountain Nvidia 5 years The Nvidia phenomenon is something for all investors to take note of and study. The first question we got on the call was in relation to the sustainability of the Data Center sales momentum. Generative AI isn't possible in a data center built for traditional general-purpose computing. In fact, Nvidia believes AI inferencing was responsible for about 40% of Data Center sales over the past year. This is why Nvidia was designated by Jim Cramer and the Club as an "own it, don't trade it" stock.

Persons: Jensen Huang, it's Nvidia's, Thursday's, we've, Colette Kress, we're, Nvidia's Huang, Huang, inferencing, It's, Jim Cramer, Apple's, Jim Cramer's, Jim, Ann Wang Organizations: Nvidia, Revenue, U.S, Data, Microsoft, Moore's Law, world's, Management, Software, Enterprise, Club, Apple, CNBC Locations: tacking, China, Taipei, Taiwan

☆ Justice Department settlement concludes Andrew Cuomo sexually harassed state employees
▼ + stars: | 2024-01-26 | by ( Holmes Lybrand | Devan Cole | ) edition.cnn.com time to read: +4 min

CNN —The Justice Department concluded Friday that former New York Gov. Andrew Cuomo sexually harassed state employees, supporting the findings of a previous state civil review of allegations against the former governor. The department reached an agreement with the New York State Executive Chamber resolving the claims of sexual harassment and retaliation against the Democratic former governor, according to a release from the Justice Department on Friday. “Governor Cuomo repeatedly subjected these female employees to unwelcome, non-consensual sexual contact; ogling; unwelcome sexual comments; gender-based nicknames; comments on their physical appearances; and/or preferential treatment based on their physical appearances,” the Justice Department found. In August 2021, the New York attorney general’s office found that Cuomo had sexually harassed 11 women and created a “hostile” work environment for women.

Persons: Andrew Cuomo, Cuomo, Letitia James ’, Governor Cuomo, Cuomo’s, “, Rita Glavin, Cuomo “, NYS Attorney General’s, ” Rich Azzopardi, Department’s, Mariann Wang, ”, ” Wang, Debra Katz, Charlotte Bennett, Kathy Hochul, Hochul, Kristen Clarke Organizations: CNN, The Justice Department, New York Gov, New York, Chamber, Democratic, Justice Department, New, Justice, NYS Attorney Locations: New York

☆ Who is Lai Ching-te, Taiwan’s new leader and why does China dislike him?
▼ + stars: | 2024-01-14 | by ( Nectar Gan | ) edition.cnn.com time to read: +11 min

On Saturday, Lai, 64, the current vice president from the ruling Democratic Progressive Party (DPP), won a widely watched election to become Taiwan’s next president. Confetti flies over crowds as Lai Ching-te speaks to supporters at a rally at the DPP's headquarters on January 13, 2024 in Taipei, Taiwan. It was 1994, less than a decade after the DPP first emerged from Taiwan’s democracy movement against the authoritarian rule of the Kuomintang (KMT). Louise Delmotte/AP‘Chill out’In the lead-up to the election, China made no secret of its desire to prevent a Lai victory. Hours after Lai declared victory, China dismissed the outcome of Taiwan’s elections, saying the DPP “does not represent mainstream public opinion” on the island.

Persons: CNN — Lai Ching, Lai, Taiwan’s, “, ” Lai, we’re, ”, Xi Jinping, ” “, –, Tsai Ing, Lai Ching, Annice Lyn, I’ve, Louise Delmotte, Hou Yu, Beijing’s, Tsai, Xi, Beijing, Hsiao Bi, Hsiao, ” Lai Ching, Ann Wang, ’ Lai, ” Yang Wei Organizations: CNN, Communist Party, Democratic Progressive Party, “, DPP, Kuomintang, KMT, Communist, ih, National Taiwan University, Reuters, Taiwan People’s Party, Taiwan Affairs Office Locations: Taiwan, China, Taiwan Strait, Beijing, Tainan, Taipei, United States, ”

☆ Foxconn raises Q4 outlook on strong year-end holiday sales
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Dec 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple (AAPL.O) supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets. "Therefore, the outlook for the fourth quarter should be better than the original guidance for 'significant growth'", the company added, without elaborating. For components and other products, revenue in November showed strong year-on-year growth "due to increasing allocations in smart consumer electronics products and rising shipments in auto components", it added.

Persons: Ann Wang, Foxconn, Ben Blanchard, Sarah Wu, David Goodman Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Foxconn's, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Zhengzhou, Foxconn's Taipei

☆ US officials to visit Taiwan to explain chip curbs, minister says
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

Taiwan Economy Minister Wang Mei-hua speaks during an interview with Reuters in Taipei, Taiwan, September 30, 2021. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Dec 4 (Reuters) - U.S. officials plan to visit Taiwan to explain to companies details of new curbs, primarily aimed at China, on advanced chip exports, the island's economy minister said on Monday. Taiwan Economy Minister Wang Mei-hua said some details of the extremely long new U.S. rules needed explanation. Given the concentration of chip making in Taiwan it was "advantageous" for Taiwanese companies to hear the details of the new controls from the U.S. officials, Wang said. Taiwan's official Central News Agency said the U.S. officials, who it did not name, would visit Taiwan next month and hold events in the chip hubs of Hsinchu and Tainan.

Persons: Wang Mei, Ann Wang, Biden, chipmaker TSMC, Wang, Ben Blanchard, Jeanny, Bernadette Baum, Barbara Lewis Organizations: Reuters, REUTERS, Rights, Nvidia, Beijing, U.S, Central News Agency, The U.S . Commerce Department, Thomson Locations: Taiwan, Taipei, Rights TAIPEI, China, U.S, Hsinchu, Tainan, The

☆ Nvidia CEO says he will try to prioritise Japan for AI processors
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Japan is rushing to rebuild its once world-leading semiconductor infrastructure and catch up on the development of AI technology. The graphics processing units (GPUs) made by U.S.-based Nvidia dominate the market for AI. "Demand is very high, but I promised the prime minister we will do our very, very best to prioritise Japan's requirements for GPUs," Huang told reporters at Prime Minister Fumio Kishida's official residence in Tokyo. "The semiconductor industry that Japan is now starting to grow and foster will be able to produce GPUs," Huang said. "Countries like Japan are realising that you need to own your own data, build your own AI factories and produce your own AI intelligence," he added.

Persons: Ann Wang, Jensen Huang, Huang, Fumio, Huang's, TSMC, Yoshifumi Takemoto, Rocky Swift, Chang, Ran Kim, Jamie Freed Organizations: REUTERS, Rights, Nvidia, Thomson Locations: Taipei, Taiwan, Japan, U.S, Tokyo, Hokkaido

☆ Taiwan president: China too 'overwhelmed' to consider invasion
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 30 (Reuters) - China's leadership is too "overwhelmed" with its internal problems to consider an invasion of Taiwan, President Tsai Ing-wen said in an interview with the New York Times. But Tsai, in a transcript of the interview her office published on Thursday, said China had too many issues at the moment. And my thought is that perhaps this is not a time for them to consider a major invasion of Taiwan," she said. Tsai and her government have repeatedly called for talks with China but been rebuffed, as Beijing views Tsai and the ruling Democratic Progressive Party (DPP) as separatists. The DPP's Lai Ching-te, currently vice president, is the frontrunner to be Taiwan's next president according to opinion polls.

Persons: Tsai Ing, Ann Wang, Tsai, Lai Ching, Lai, Hsiao Bi, Chen Binhua, Chiu Tai, Chiu, Ben Blanchard, Stephen Coates Organizations: REUTERS, Rights, New York Times, Democratic Progressive Party, Taiwan Affairs Office, Mainland Affairs Council, Thomson Locations: Taichung, Taiwan, Rights TAIPEI, China, Beijing, United States, Taipei, Lincoln

[1/7] Hota's CEO Holly Sheng poses for a photo in their factory in Taichung, Taiwan November 13, 2023. The crates of shafts and gears at the factory contain some of the more than 20 million parts Hota produces each year. Hota's factory will be near Texas, home to Tesla's headquarters, and Mexico, where Tesla plans to build a gigafactory. Most Taiwanese manufacturers seeking a North American foothold choose Mexico over the United States due to costs, Sheng said. Similarly, Hota would never be able to completely replace its established Taiwan production base.

Persons: Holly Sheng, Ann Wang, Sheng, Hota, Tesla, Sarah Wu, Anne Marie Roantree, Sam Holmes Organizations: REUTERS, Rights, Mfg, Ford Motor, General Motors, Hota, Reuters, DETROIT, Hota's, Washington incentivises, Thomson Locations: Taichung, Taiwan, Rights TAICHUNG, Hota's, China, North America, New Mexico, Asia, United States, Santa Teresa , New Mexico, Mexico, Detroit, U.S, Texas, American, Washington, Arizona

☆ Foxconn to invest $1.5 bln to expand India operations
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBENGALURU, Nov 27 (Reuters) - Taiwan's Foxconn (2317.TW) will invest $1.5 billion in India in its latest expansion plan, the world's largest contract manufacturer of electronics said on Monday. The company, which announced the investment plan in a stock exchange filing, did not provide any further details. Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country. The contract manufacturer aims to double its workforce and investment in India by next year, a company executive had said in September.

Persons: Ann Wang, Foxconn, Liu Young, Kashish Tandon, Krishna Chandra Organizations: REUTERS, Rights, Thomson Locations: New Taipei City, Taiwan, India, Bengaluru

☆ Taiwan ruling party powers ahead as chaos engulfs opposition campaign
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

[1/2] Taiwan's Vice President Lai Ching-te and his running mate Hsiao Bi-Khim arrive to register for the upcoming presidential election for the ruling Democratic Progressive Party (DPP) at the Central Election Commission in Taipei, Taiwan November 21, 2023. Vice President Lai Ching-te of the ruling Democratic Progressive Party (DPP), who China views as a separatist, leads opinion polls to be Taiwan's next president. Talks between the two main opposition parties to team up and take him on have floundered and are in deadlock. Lai told reporters he and Hsiao were "confident and determined to lead Taiwan steadily in the chaotic situation". Taiwan's main opposition party the Kuomintang (KMT), which traditional favours close ties with Beijing, had agreed with the much smaller Taiwan People's Party (TPP) last week to offer a joint ticket to take on Lai.

Persons: Lai Ching, Hsiao Bi, Ann Wang, Lai, Taiwan's, Hsiao, Hou Yu, Ko, Hou, Huang Shan, Huang, Terry Gou, Tammy Lai, Gou, Huang Shih, Ben Blanchard, Raju Gopalakrishnan Organizations: Democratic Progressive Party, Central, Commission, REUTERS, Rights, Kuomintang, KMT, Taiwan People's Party, ih, Apple, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Beijing, China, Taiwan's, Lai

☆ Taiwan election about choosing whether to embrace China, frontrunner says
▼ + stars: | 2023-11-21 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

[1/3] Taiwan's Vice President Lai Ching-te and running mate Hsiao Bi-Khim pose for a photo after registering for the upcoming presidential election at the Central Election Commission in Taipei, Taiwan November 21, 2023. Lai Ching-te, vice president and the ruling Democratic Progressive Party's (DPP) presidential candidate, has led in most opinion polls ahead of the election. Speaking to reporters and supporters after formally registering his candidacy with the election commission, Lai said Taiwan's security was an international issue and the whole world was watching this election. "The people of Taiwan have to choose between trusting Taiwan, allowing Taiwan to continue to move forward on the road of democracy, and relying on China, following the old path of the one-China principle, and walking into the embrace of China," he said. Like Lai, Hsiao is despised by China, which has twice placed sanctions on her, most recently in April, saying she was an "independence diehard".

Persons: Lai Ching, Hsiao Bi, Ann WAng, Democratic Progressive Party's, Lai, Hsiao, colluding, Ben Blanchard, Lincoln Organizations: Central, Commission, REUTERS, Rights, Democratic Progressive, Kuomintang, KMT, Taiwan People's Party, Taipei, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China, Beijing, United States

☆ Foxconn's electric car unit falls in market debut amid tough industry outlook
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

A view of a Foxtron logo on a electric vehicle on display during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 20 (Reuters) - Shares in Foxtron Vehicle Technologies (2258.TW), a unit of Taiwanese contract manufacturer Foxconn (2317.TW), fell in their market debut on Monday, hurt by concerns over headwinds in the highly competitive electric vehicle market. Foxtron shares did recover some ground from earlier losses of as much as 9%, ending down 2.7% which gave it a market capitalisation of around $2.7 billion. Foxtron is a joint venture between Foxconn - the world's largest contract manufacturer for iPhones and other consumer electronics - and local car maker Yulon (2201.TW). Young Liu, chairman of both Foxtron and Foxconn, said, however, the company has a clear strategy for growth.

Persons: Ann Wang, Foxtron, Yulon . Young Liu, Liu, Foxconn, Terry Gou, Ben Blanchard, Faith Hung, Anne Marie Roantree, Navaratnam, Edwina Gibbs Organizations: Tech Day, REUTERS, Rights, Vehicle Technologies, Mega International Securities, Yulon, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Foxconn, North America, Southeast Asia, China

☆ Apple supplier Foxconn books surprise rise in quarterly profit
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] People wear masks to protect themselves from the coronavirus disease (COVID-19) while passing a Foxconn office building in Taipei, Taiwan, July 14, 2020. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 14 (Reuters) - Apple Inc (AAPL.O) supplier Foxconn (2317.TW) reported on Tuesday a surprise 11% increase in third-quarter profit, boosted by strong demand for smartphones ahead of the year-end holiday shopping season in Western markets. Net profit for the July-September quarter rose to T$43.1 billion ($1.3 billion), beating market estimates for an 11% drop. Shares of Foxconn closed up 2.4% ahead of the earnings announcement, beating a 0.5% gain for the benchmark index (.TWII). ($1 = 32.3430 Taiwan dollars)Reporting by Yimou Lee and Sarah Wu; Editing by Anne Marie Roantree and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Young Liu, Terry Gou, Yimou Lee, Sarah Wu, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, Rights, Apple Inc, TW, Apple, Global Times, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China

Terry Gou, the founder of Taiwan's Foxconn, makes a speech at Banqiao Cihui Temple in New Taipei City, Taiwan October 29, 2023. In a statement, Gou thanked his backers for their "enthusiastic support" and vowed to work hard to achieve "peace across the Taiwan Strait". While China's government has not confirmed the Foxconn investigation, Lai has assailed Beijing for targeting the firm. "Aren't we all waiting to see if Terry Gou will run until the end?" Foxconn says Gou no longer has anything to do with the company's day-to-day operations, though he remains its largest single shareholder.

Persons: Terry Gou, Taiwan's, Ann Wang, Gou, Lai Ching, Lai, detests Lai, Wellington Koo, Foxconn, Young Liu, Liu, Jeanny Kao, Yimou Lee, Ben Blanchard, Jacqueline Wong Organizations: REUTERS, Rights, Apple, Democratic Progressive Party, Taiwan's National Security Council, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, Ukraine, China, Beijing

Taiwan's President Tsai Ing-wen poses for a photo with Taiwan's APEC representative and TSMC founder Morris Chang at a press conference in Taipei, Taiwan November 10, 2023. REUTERS/Ann Wang Acquire Licensing RightsTAIPEI, Nov 14 (Reuters) - Taiwan is working on securing a one-on-one meeting with U.S. President Joe Biden and the island's representative at this week's APEC summit in San Francisco, but there is no message planned for China, a senior Taiwanese official said. "The two sides are discussing related arrangements," Koo said when asked whether Chang plans to hold an one-on-one meeting with Biden at APEC. Tensions over Taiwan are likely to feature when Biden meets Chinese President Xi Jinping at the summit. Chang briefly met with Xi at last year's APEC summit in Bangkok, and discussed semiconductors with U.S. Vice President Kamala Harris.

Persons: Tsai Ing, Morris Chang, Ann Wang, Joe Biden, Wellington Koo, Biden, Koo, Chang, Xi Jinping, Xi, Tsai, Kamala Harris, Yimou Lee, Ben Blanchard, Michael Martina, Trevor Hunnicutt, Gerry Doyle Organizations: Taiwan's APEC, REUTERS, Rights, U.S, APEC, Economic Cooperation, Taiwan's National Security Council, U.S . State Department, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, San Francisco, China, Asia, Beijing, Wellington, United States, Washington, U.S, Bangkok

[1/4] Taiwan's President Tsai Ing-wen poses for a photo with Taiwan's APEC representative and TSMC founder Morris Chang at a press conference in Taipei, Taiwan November 10, 2023. REUTERS/Ann Wang Acquire Licensing RightsTAIPEI, Nov 10 (Reuters) - Taiwan will stress the importance of peace in the region at next week's APEC summit, President Tsai Ing-wen said on Friday, one of the few international bodies both Taiwan and China are members of and where their officials meet. The 21-member Asia-Pacific Economic Cooperation (APEC) forum will meet in San Francisco for the 30th APEC summit, the first hosted by the United States since 2011. Neither the president nor Chang, representing Tsai for the sixth time at an APEC summit, took questions. Chang, 92, had a brief chat with Xi at last year's APEC summit in Bangkok, a rare high-level interaction.

Persons: Tsai Ing, Morris Chang, Ann Wang, Tsai, Chang, Xi, Sarah Wu, Ben Blanchard, Stephen Coates Organizations: Taiwan's APEC, REUTERS, Rights, APEC, Economic Cooperation, TSMC, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China, Asia, San Francisco, United States, Beijing, pleasantries, Chang, Bangkok

☆ Germany approves stakes by Bosch, Infineon and NXP in TSMC chip plant
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsNov 7 (Reuters) - The German cartel office has approved stakes by Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXP.N) in TSMC's (2330.TW) new semiconductor plant in the German city of Dresden, the regulator said in a statement on Tuesday. The companies would each acquire 10% of shares in the European Semiconductor Manufacturing Company (ESMC), founded by TSMC, it said. "The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry," Andreas Mundt, president of the cartel office, said in a statement. He added that both the European Union and Germany were committed to locating more semiconductor production in Europe and Germany.

Persons: Ann Wang, Andreas Mundt, Linda Pasquini, Rachel More, Matthias Williams Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Bosch, Infineon, European Semiconductor Manufacturing Company, TSMC, European Union, Thomson Locations: Hsinchu, Taiwan, TSMC's, German, Dresden, Germany, Europe, China

DBS, which is also Southeast Asia's largest lender, has already forecast a record full-year profit for the current year. "Net profit (for 2024) to be maintained around record 2023 level," CEO Piyush Gupta said in results presentation materials. The bank's July-September net profit rose to S$2.63 billion ($1.94 billion) from S$2.24 billion a year earlier as total income grew to a record on higher interest margins and fee income. Besides higher global interest rates, Singapore banks have benefitted from strong inflows of wealth drawn in by the city-state's political stability. Smaller peer United Overseas Bank (UOBH.SI) reported in end-October a weaker-than-expected 1% drop in third-quarter net profit.

Persons: Ann Wang, Piyush Gupta, Gupta, Yantoultra Ngui, Josie Kao Organizations: DBS, REUTERS, Bank, Q3 SINGAPORE, LSEG, United Overseas Bank, Chinese Banking Corp, Thomson Locations: Taipei, Taiwan, Singapore

☆ Foxconn sticks to strong end-of-year sales outlook
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple supplier, on Sunday stuck to its previous outlook of strong year-end holiday sales, and said customers were buying well in China and the United States. Foxconn said in a statement that with the second half of the year a "traditional peak season" for consumer tech products, operations "will ramp up sequentially", sticking to its outlook given last month. "Significant growth outlook in the fourth quarter compared to the third quarter remains unchanged," it added, without elaborating. Foxconn releases third-quarter earnings on Nov. 14, when it will give more details on its outlook.

Persons: Ann Wang, Foxconn, Ben Blanchard, David Goodman, Christopher Cushing Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, China, United States, Taipei

☆ Crowds throng Taipei as Taiwan celebrates east Asia's largest Pride march
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

[1/5] Friends greet each other at the annual Taiwan's Pride parade in Taipei, Taiwan October 28, 2023. Lai then joined the DPP delegation, marching behind a banner reading "Democracy Supports Gays" as supporters yelled out "Hello Mr. President". The streets of central Taipei were packed for the annual parade, the 21st since it began and including go-go dancers and drag queens. Taiwan's openness on LGBTQ+ issues stands in marked contrast with its giant neighbour China, which claims the island as its own territory. While same sex relations are not illegal in China, same sex marriage is, and the government has been cracking down on activists and depictions of LGBTQ+ people in the media.

Persons: Ann Wang, Lai Ching, Lai, Democratic Progressive Party's, Tsai Ing, Tsai, Ben Blanchard, Editingby Raju Gopalakrishnan Organizations: REUTERS, Rights, Democratic Progressive, DPP, Kuomintang, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China

"I think the entire Taiwan semiconductor industry - in our essence, in our R&D and manufacturing, and in our global layout - will undergo a comprehensive improvement and transformation." Key to the development of the industry is stable and renewable energy, Hou, the chairman of the Taiwan Semiconductor Industry Association, told its annual meeting in the chip hub of Hsinchu. Last month, the association made four key appeals to the government, among them the stable supply of green energy, as Taiwan's chip industry aims to seize the AI opportunity, Hou said. In 2021, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said it aimed to reach net zero emissions by 2050, matching a government target set that year by President Tsai Ing-wen. GlobalWafers (6488.TWO) CEO Doris Hsu told reporters that while AI will be a key driver of rapid growth in the next decade, Taiwan's chip industry faces several pressures as it grows.

Persons: Ann Wang, Cliff Hou, Hou, Tsai Ing, Doris Hsu, Hsu, Sarah Wu, Ben Blanchard, Clarence Fernandez, Raju Gopalakrishnan Organizations: REUTERS, Rights, Taiwan, Taiwan Semiconductor Industry Association, Taiwan Semiconductor Manufacturing Co, Thomson Locations: Tainan, Taiwan, Rights HSINCHU, Hsinchu

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