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Elon Musk’s Unmatched Power in the Stars The tech billionaire has become the dominant power in satellite internet technology. Today, more than 4,500 Starlink satellites are in the skies, accounting for more than 50 percent of all active satellites. 53% of active satellites are Starlink.” The Starlink satellites are highlighted and are all operating in low-Earth orbit. How Starlink customers connect to the internet Starlink satellites orbit at much lower altitudes than traditional satellite internet services. “Everywhere on earth will have high bandwidth, low latency internet,” Mr. Musk predicted on the Joe Rogan podcast in 2020.

Persons: Elon Musk’s, Mark, Valeriy Zaluzhnyi, Elon Musk, Zaluzhnyi, General Zaluzhnyi, Musk, Musk’s, ”, Starlink’s, ” Mykhailo Fedorov, Mr, Biden, ” Dmitri Alperovitch, Sir Martin Sweeting, Sweeting, Mike Blake, Patrick Seitzer, Rafael Schmall, Joe Rogan, Jeff Bezos, Starlink, Russia —, Fedorov, —, Clodagh Kilcoyne, Nancy Pelosi, Colin H, Kahl, Lynsey Addario, messaged Mr, Lloyd Austin, Gregory C, Allen, we’ve, Mykhailo Podolyak, Volodymyr Zelensky, Jason Hsu, Hsu, “ Elon, Michael McCaul of, Tsai Ing, Tsai, Audrey Tang, Mariana Suarez, Thierry Breton, SpaceX, Chérif El, Amazon Organizations: Joint Chiefs of Staff, Ukraine’s Armed Forces, SpaceX, Tesla, Twitter, Mr, U.S . Defense Department, NASA, Senior Pentagon, The Defense Department, Starlink, European Union, Silverado, Accelerator, Surrey Satellite Technology, Reuters, Airbus, Earth, Getty, Satellite, University of Michigan, National Science Foundation, Rivals, Amazon, Origin, Viasat, Pentagon, CNN, The New York Times, U.S, Defense Department, Center for Strategic, International Studies, Elon, Harvard Kennedy School, Republican, House Foreign Affairs, OneWeb, Agence France, European, United Nations Locations: Ukraine, United States, Iran, Turkey, Japan, Starlink, Crimea, Russian, Starlinks, Europe, Taiwan, China, Beijing, British, Colorado, Cape Canaveral, Fla, —, California, Florida, Latin America, Africa, Nigeria, Mozambique, Rwanda, Ukrainian, Russia, Kreminna, Aspen, Colo, Kherson's, Kherson, Dnipro, Shanghai, Taipei, Michael McCaul of Texas, del, Uruguay, European Union

BEIJING/TAIPEI, July 28 (Reuters) - Typhoon Doksuri swept into southern China on Friday, unleashing heavy rain and violent gusts of wind that whipped power lines and sparked fires, uprooted trees, and ripped off part of a stadium roof. REUTERS/Eloisa LopezSocial media video showed power lines sparking and bursting into flames as winds thrashed Jinjiang, a city of 2 million, while in Quanzhou trees were uprooted and left in the middle of roads. FERRY OVERTURNSTyphoon Doksuri has already left a wake of death and destruction as it moved from the Philippines across southern Taiwan. In southern Taiwan, the storm toppled trees and cut power to hundreds of thousands of homes. The storm had cut power to more than 278,000 homes across Taiwan and downed hundreds of trees in Kaohsiung.

Persons: Doksuri, Meranti, Zhuang, Aya, Eloisa Lopez, Bernard Orr, Ryan Woo, Yimou Lee, Dominique Patton, Yuhan Lin, Kevin Huang, Ethan Wang, Michael Perry, Neil Fullick Organizations: Sunday, Philippine Coast Guard, REUTERS, Eloisa Lopez Social, Residents, Reuters, Thomson Locations: BEIJING, TAIPEI, China, Fujian, Quanzhou, Anhui, Beijing, Xiamen, Binangonan, Rizal province, Philippines, Jinjiang, Taiwan, Manila, Kaohsiung, Taipei, Shanghai

☆ 10 ways artificial intelligence is changing the workplace, from writing performance reviews to making the 4-day workweek possible
▼ + stars: | 2023-07-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +13 min

Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."

Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford

CHENNAI, India, July 26 (Reuters) - A Foxconn (2317.TW) subsidiary is in talks with India's Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Foxconn, the world's largest contract electronics manufacturer, and a spokesperson for Tamil Nadu's industries department declined to comment. Foxconn already has a sprawling campus near Chennai city in Tamil Nadu where it assembles Apple's (AAPL.O) iPhones. Foxconn is also in talks with western Gujarat state as it eyes entry into India's semiconductor sector. Last week, Karnataka state government in south India said it held talks with FII, which had committed to invest $1.07 billion for a new plant.

Persons: Brand Cheng, Foxconn, Young Liu, Praveen, Sarah Wu, Aditya Kalra, Richard Chang Organizations: Reuters, Foxconn Industrial, Tamil, FII, Thomson Locations: CHENNAI, India, Tamil, Chennai, Tamil Nadu, Gujarat, Karnataka, Bengaluru, Taipei

☆ Nvidia wins again — plus two more takeaways from this week's mega-cap earnings
▼ + stars: | 2023-07-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It was also one of several conclusions we made combing through the results and listening to the conference calls with investors. We are basically looking for results or management commentary that speaks to peer companies or the industry as a whole. On the call, management said it was "to support cloud demand, including investments in AI infrastructure." What is increased AI spending going to do for Meta's engagement and Reels monetization efforts? Nvidia chief Jensen Huang (centre L) poses for photographs before attending a press conference at Computex 2023 in Taipei on May 30, 2023.

Persons: it's, Sundar Pichai, We're, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Sam Yeh Organizations: Microsoft, Nvidia, Google, AMD, Intel, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: Taipei

☆ Want to start a side hustle selling on Amazon? An e-commerce expert shares his top advice for beginners, including how to select a product and where to spend your first $1,000.
▼ + stars: | 2023-07-26 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +11 min

If you're looking to make extra money on the side, selling products on sites like Amazon is one way to go. "We are essentially the plumbing for e-commerce brands that help get their product manufactured in Asia and keep their businesses running," he told Insider. Insider spoke to Walter about what successful e-commerce companies are doing right — and how anyone can launch one and start making money selling online. Once you actually start profiting from your first product — in this example, the bluetooth headphones — then you can start getting more creative, he noted. "If you're thinking about starting a brand, don't even consider starting a brand that you're going to be fulfilling yourself.

Persons: Tyler Walter, It's, Walter, They've, You've, you've, NurPhoto Organizations: Nike, Adidas, Walmart Locations: Asia, China, Vietnam, Thailand, Malaysia, Taipei, Taiwan, Orlando

☆ Persuasion, Patience and Many Permits Brought Buddhist Relics to the Met
▼ + stars: | 2023-07-25 | by ( Rachel Sherman | ) www.nytimes.com time to read: +1 min

with many tons of sculpture,” Guy said. Within India alone, the negotiations included the central government, the Ministry of Culture, the Archaeological Survey of India, the National Museum and six state governments. Over the course of the discussions, the input of three U.S. ambassadors to India and two Indian ambassadors to the U.S. was called upon. In 1996, just weeks before the Met’s “Splendors of Imperial China” show, protesters demonstrated outside the National Palace Museum in Taipei, Taiwan, demanding the museum withhold artworks meant to go to New York. Much of the displays feature panels from stupas, the religious monumental domes, which have housed the Buddha’s remains after cremation, along with other spiritual materials.

Persons: ”, John Guy, ” Guy Organizations: Met, Ministry of Culture, Survey, National Museum, Museum Locations: J.F.K, India, Italy, United States, England, Germany, Imperial China, Taipei, Taiwan, New York

☆ This is how investors should respond to the fresh pressure facing chipmakers
▼ + stars: | 2023-07-24 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The generative artificial intelligence boom has seen semiconductor stocks soar this year, no more so than Club holding Nvidia (NVDA). We're more cautious on AMD going into its earnings print on Aug. 1, as it doesn't have the same outsized exposure to generative AI technology as Nvidia. Similarly, in a research note Monday, analysts at JMP Securities said that while "demand around generative AI remains extremely robust," elsewhere enterprise IT budgets remain constrained. Semiconductor firms are either basking in the glory of generative AI demand, or working through excess inventory and IT budget-optimization dynamics. And when the semiconductor firms report next month, investors will have a clearer sense on inventory challenges.

Persons: TSM, Jim Cramer's, Jim Cramer, Jim, Tyrone Siu Organizations: Nvidia, Devices, AMD, Taiwan Semiconductor Manufacturing Company, JMP Securities, Semiconductor, Club, Microsoft, CNBC, Nvidia Corporation Locations: China, Taipei, Taiwan

Sirens sounded at 1:30 p.m. (0530 GMT) for the mandatory street evacuation drills, which effectively shut towns and cities including its capital Taipei for 30 minutes. An "air raid alert", asking people to evacuate to safety immediately, was sent via text message. Tourists with luggage were seen taking shelter in a subway station, some shocked and not sure what had happened. Other parts of Taiwan, where periodic air-raid drills are required by law, will carry out street evacuation drills this week. Reporting By Angie Teo, Fabian Hamacher and Ann Wang; Writing by Yimou Lee; Editing by Lincoln Feast.

Persons: Ann Wang, Tsai Ing, Wan, Lee Jang Ho, William Lai, Angie Teo, Fabian Hamacher, Yimou Lee, Lincoln Organizations: REUTERS, Facebook, Taiwan, Thomson Locations: Taipei, Taiwan, Ann Wang TAIPEI, Beijing, China, Ximending, South Korea, United States

☆ Inspired by Ukraine war, Taiwan launches drone blitz to counter China
▼ + stars: | 2023-07-21 | by ( Reuters Graphic | ) www.reuters.com time to read: +16 min

These drones range from jet-powered, long range surveillance aircraft to small quadcopters deployed by ground troops. Taiwan should accelerate mass production of a range of military drones to boost self-reliance in the struggle with Beijing, it concluded. U.S. drones range in size from two-kilogram, hand-launched drones to 14,500-kilogram long range surveillance drones. Unlike Taiwan, China began mass-producing unmanned aircraft long before the Ukraine conflict. Hundreds of technology experts, including specialists in AI, were recruited to the military, according to UCSD analyst Cheung.

Persons: Tsai Ing, ”, Tsai “, Max Lo, “, Hawk Yang, Yang, Tsai, Joe Biden, ’, Lo, Tai Ming Cheung, ” Cheung, Nancy Pelosi, ” Tsai, Chang, Xi Jinping, Xi, Cheung, ” Elsa Kania Organizations: Reuters, People’s Liberation Army, Thunder Tiger Group, “, Communist Party, Taiwan, Taiwan Affairs Office, U.S . Department of Defense, White, Pentagon ., Teal, University of California, PLA, U.S . House, Airborne, Washington -, Strategic & International Studies ., Royal United Services Institute, 20th Party Congress, UCSD, Center, New, New American Security, China's Ministry of Defense, Pentagon Locations: Russia, Ukraine, Taipei, Taiwan, China, Asia, United States, Australia, Japan, South Korea, America, Republic of China, “ China, Kinmen, Beijing, Washington, Pentagon . U.S, U.S, University of California San Diego, Chiayi, Strategic & International Studies . Ukraine, London, Chang Kong, Today, New American

HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.

Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong

☆ China says its 'priority' is to stop Taiwan VP visiting US next month
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 20 (Reuters) - It is China's "priority" to stop Taiwan's vice president and presidential frontrunner William Lai from visiting the United States next month, the country's ambassador in Washington said on Wednesday, as Beijing steps up its warnings against the trip. Provocative moves by Taiwan "separatists" should be contained, he added. "Now the priority for us is to stop Lai Ching-te from visiting the United States, which is like a grey rhino charging at us," Xie said, using Lai's Chinese language name. Taiwan President Tsai Ing-wen and her government have repeatedly offered talks with China but been rejected, as Beijing views them as separatists. In August and then again in April, China staged large-scale war games around Taiwan, angered by the August visit to Taiwan of then-U.S. House Speaker Nancy Pelosi and in April by Taiwan President Tsai Ing-wen meeting current House Speaker Kevin McCarthy in Los Angeles, while she was transitting back from a visit to Central America.

Persons: William Lai, Lai, Democratic Progressive Party's, Xie Feng, Xie, Lai Ching, Tsai Ing, Both Tsai, Nancy Pelosi, Kevin McCarthy, Ben Blanchard, Stephen Coates Organizations: United, Democratic Progressive, Aspen Security, ., Taiwan, Central America, Beijing, Thomson Locations: BEIJING, United States, Washington, Beijing, China, Taiwan, Taipei, Paraguay, Los Angeles, Central, Tapei

☆ Wall Street is bullish on Big Tech heading into earnings — here's what we think
▼ + stars: | 2023-07-18 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Wall Street kicked off the week with bullish takes on several high-flying tech stocks in the portfolio — validating our decision to stick with these mega-caps heading into quarterly earnings. It's also important to understand that some price target raises are just chasing a big move, and that the price reaction to an earnings release has less to do with the results and much more to do with expectations. It's also why Citigroup also put AMD on a "negative catalyst watch," meaning it is negative on the stock heading into earnings. In the analysts' view, Apple has an opportunity to grow its revenue by seven times in the U.S. over the next decade to about $40 billion, while adding 170 million new users. Microsoft What the analysts say: Analysts at Mizuho reiterated their buy rating on Microsoft while taking up their price target to $390 from $360.

Persons: bullish, Meta, It's, CUDA, Morgan Stanley, we're, —, Jim Cramer, monetize, Jim Cramer's, Jim, Jensen Huang, Sam Yeh Organizations: Nvidia, Apple, Microsoft, Devices, Citigroup, AMD, Intel, Mizuho, Activision Blizzard, JMP Securities, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: U.S, China, India, Taipei

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Persons: Dow Jones

BEIJING/TAIPEI, July 17 (Reuters) - China reacted with anger on Monday to a planned visit next month to the United States by "separatist" Taiwan presidential frontrunner Vice President William Lai, as the government in Taipei said it saw no reason to overreact to mere transit stops. Such transits infuriate China, which views them as covert support by the United States for Taiwan's separateness from China and challenge to Beijing's territorial claims. "China firmly opposes any form of official exchanges between the United States and Taiwan, resolutely opposes sneaky visits by Taiwan independence separatists in any name or for any reason, and resolutely opposes any form of connivance by the United States to support Taiwan independence separatists," she said. Speaking to reporters, Taiwan Vice Foreign Minister Alexander Yui declined to give details on Lai's U.S. transits, saying details would come later. Pena visited Taiwan last week and met both Lai and Tsai, who cannot run for office again after serving two terms.

Persons: William Lai, Lai, Santiago Pena, Tsai Ing, Tsai, Kevin McCarthy, Mao Ning, Pena, Alexander Yui, Yui, Liz Lee, Ben Blanchard, Kim Coghill, Lincoln, Michael Perry Organizations: Central America, Foreign Ministry, Taiwan, Foreign, U.S, Thomson Locations: BEIJING, TAIPEI, China, United States, Taiwan, Taipei, U.S, Taiwan's, Los Angeles, Central, Beijing, Paraguay, Republic of China

☆ Divisive China, Taiwan bids to join Pacific trade pact in focus at meet
▼ + stars: | 2023-07-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Britain will become the 12th member to join the pact that cuts trade barriers, as it looks to deepen ties in the Pacific. In support of its application, Britain has said that CPTPP countries will have a combined GDP of 11 trillion pounds ($13.6 trillion) once Britain joins, or 15% of global GDP. "There’s a large gap between the high standards and binding commitments that are demanded of CPTPP members, and where China is currently at," he added. The other countries' applications also provide opportunities. "After modernising the Canada-Ukraine FTA this year, Canada knows that Ukraine is capable of meeting the high standards of the CPTPP," she said.

Persons: Charles Finny, CPTPP, Chris Hipkins, Shu Jueting, Penny Wong, Aidan Arasasingham, Joanne Ou, Roy Lee, Mary Ng, Lucy Craymer, Ben Blanchard, Joe Cash, Praveen Menon, Muralikumar Organizations: WELLINGTON, Trans, Pacific, New Zealand, Reuters, Centre, Strategic, International Studies, Washington DC, Thomson Locations: Pacific, Auckland, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, Costa Rica, Uruguay, Ecuador, Ukraine, New, Beijing, Zealand, Jakarta, Taipei, CPTPP, Wellington

☆ Paraguay president-elect says committed to Taiwan, pitches investment
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Paraguay's President-elect Santiago Pena speaks at a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan, in this handout image released July 12, 2023. Taiwan Presidential Office/Handout via REUTERSTAIPEI, July 12 (Reuters) - Paraguay President-elect Santiago Pena said on Wednesday that he is committed to a relationship with Taiwan as he pitched investment opportunities he said should not be based on political or diplomatic considerations. Paraguay is the last South American country with formal relations with Taiwan, which China claims as its own territory. Meeting Taiwan President Tsai Ing-wen, Pena said that as president he would stick with Taipei. Pena met Lai before meeting Tsai, though Taiwan's presidential office did not mention whether Lai would attend the inauguration.

Persons: Santiago Pena, Tsai Ing, Pena, William Lai, Lai, Tsai, Ben Blanchard, Robert Birsel Organizations: Taiwan, Taiwan Presidential, REUTERS, Reuters, Democratic Progressive, Thomson Locations: Taipei, Taiwan, REUTERS TAIPEI, Paraguay, American, China, Honduras, Beijing, United States

Foxconn (2317.TW) withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." India expects its semiconductor market to be worth $63 billion by 2026, but Modi's plan has so far floundered. The $3 billion ISMC project is stalled because Tower is being acquired by Intel, while another $3 billion plan by IGSS was also halted because it wanted to re-submit its application, Reuters has reported. Like Foxconn, the Indian government has said the breakup of the JV had "no impact" on India's semiconductor plans, adding that both companies were "valued investors" in the country.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, IGSS, Ann Wang, Vedanta, Anil Agarwal, Vedanta's, Yimou Lee, Ben Blanchard, Tanvi Mehta, Aditya Kalra, Jacqueline Wong, Sonali Paul, Alexander Smith Organizations: India, JV, Vedanta, TW, Semiconductors, IGSS Ventures, ISMC, Intel, Reuters, REUTERS, Vedanta's, Vedanta Ltd, Vedanta Resources, Thomson Locations: chipmaking, India, TAIPEI, MUMBAI, Singapore, New Taipei City, Taiwan, Vedanta's India, Vedanta's London, Taipei, Mumbai, New Delhi, Pandya, Bengaluru

☆ Foxconn pulls out of chipmaking project with India's Verdanta
▼ + stars: | 2023-07-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Foxconn says it is exiting an ambitious project to help build one of India’s first chip factories. The news was seen as a blow to the Indian government’s plans to turn the country into a tech manufacturing powerhouse, even as officials have sought to counter that view. In a followup statement Tuesday, Foxconn reaffirmed its commitment to invest in Indian chipmaking. The project had been hailed as a milestone in India’s campaign to attract more investment in manufacturing, a sector sorely needed to help ease unemployment. Prime Minister Modi had framed the project as a significant boost for the economy and jobs.

Persons: Hong Kong CNN — Foxconn, Foxconn, Vedanta, Narendra Modi, “, Young Liu, Ashwini Vaishnaw, ” Rajeev Chandrasekhar, Modi Organizations: Hong Kong CNN, Vedanta, CNN, Apple, Indian, News18, Micron Locations: Hong Kong, Asia’s, India, Andhra Pradesh, Tamil Nadu, China, Taipei, Mumbai, Gujarat

☆ Foxconn eyes India chipmaking incentives after quitting $19.5 billion JV
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Foxconn remains committed to chipmaking in IndiaFoxconn seeks new partner for India chipmaking - sourceTAIPEI/NEW DELHI, July 11 (Reuters) - Taiwan's Foxconn (2317.TW) said on Tuesday it plans to apply for incentives that India is offering under its semiconductor manufacturing policy, a day after the company parted ways with Vedanta (VDAN.NS) on a $19.5 billion chipmaking joint venture. Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is working toward submitting an application," the company said in a statement. The Vedanta-Foxconn joint venture was among three applicants last year under the government's incentives plan. Explaining its breakup with Vedanta, Foxconn said on Tuesday "there was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome", without sharing more details.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, Vedanta, Yimou Lee, Ben Blanchard, Aditya Karla, Jacqueline Wong, Sonali Paul Organizations: India, Vedanta, Semiconductors, Vedanta Ltd, Thomson Locations: chipmaking, India, TAIPEI, DELHI, Taipei, Mumbai, New Delhi

TAIPEI/BENGALURU, July 10 (Reuters) - Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. Foxconn, the world's largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in Modi's home state of Gujarat. "Foxconn (2354.TW) has determined it will not move forward on the joint venture with Vedanta," the electronics maker said in a statement, without elaborating on the reasons. India, which expects its semiconductor market to be worth $63 billion by 2026, last year received three applications to set up plants under a $10 billion incentive scheme. These were from the Vedanta-Foxconn joint venture, a global consortium ISMC which counts Tower Semiconductor (TSEM.TA) as a tech partner and from Singapore-based IGSS Ventures.

Persons: Taiwan's Foxconn, Narendra Modi's chipmaking, Vedanta, Foxconn, Modi, STMicro, IGSS, Munsif, Ben Blanchard, Aditya Kalra, Louise Heavens, Jason Neely, Alexander Smith Organizations: Vedanta, Apple, Reuters, IGSS Ventures, Intel, Thomson Locations: TAIPEI, BENGALURU, India, Gujarat, Singapore, Bengaluru, Taipei, New Delhi

☆ China aims to sap Taiwan morale with 'escape plan' misinformation, sources say
▼ + stars: | 2023-07-07 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

TAIPEI, July 7 (Reuters) - China has launched a misinformation campaign that includes news reports Taiwan's president has an "escape plan" in the event of a Chinese invasion, aiming to sap morale as Beijing presses the island to accept its sovereignty, Taiwan officials said. China's Taiwan Affairs Office did not respond to a request for comment. The officials said the Chinese campaign was overseen by Beijing's Central Leading Group for Taiwan Affairs, which is chaired by President Xi Jinping, and carried out by various government units including the Taiwan Affairs Office in Beijing. "They want to sell fear," said one of the sources, a senior official familiar with Taiwan's security planning. Reporting By Yimou Lee; Additional reporting by Ben Blanchard; Editing by Rob BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Han Kuang, Tsai Ing, Xi Jinping, Yimou Lee, Ben Blanchard, Rob Birsel Organizations: Reuters, Taiwan Affairs Office, Taiwan, U.S, China's Taiwan Affairs Office, Beijing's Central, Group, Taiwan Affairs, Affairs Office, People's Liberation Army, Thomson Locations: TAIPEI, China, Beijing, Taiwan, United States, Taipei, Hong Kong, U.S, Pacific

☆ China aims to sap Taiwan morale with 'escape plan' misinformation - sources
▼ + stars: | 2023-07-07 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

TAIPEI, July 7 (Reuters) - China has launched a misinformation campaign that includes news reports Taiwan's president has an "escape plan" in the event of a Chinese invasion, aiming to sap morale as Beijing presses the island to accept its sovereignty, Taiwan officials said. China's Taiwan Affairs Office did not respond to a request for comment. Some of the media reports were first published by online news sites run by China's Taiwan Affairs Office before appearing in media outlets in Taiwan and Hong Kong, according to the officials and a Reuters review of the reports. The officials said the Chinese campaign was overseen by Beijing's Central Leading Group for Taiwan Affairs, which is chaired by President Xi Jinping, and carried out by various government units including the Taiwan Affairs Office in Beijing. "They want to sell fear," said one of the sources, a senior official familiar with Taiwan's security planning.

☆ Foxconn chairman holds talks with Sharp employees in Japan after profit slump
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, July 6 (Reuters) - Foxconn Chairman Liu Young-way held talks with senior and mid-level employees at Japan's Sharp (6753.T) this week and discussed topics including the relationship between the two companies, the Japanese electronics maker said Thursday. Foxconn (2317.TW), the world's largest contract electronics maker, reported a 56% plunge in first-quarter net profit, due to a T$17.3 billion ($553 million) writedown related to its 34% stake in Japanese electronics maker Sharp. During the meetings, which were attended by more than 100 employees, Liu talked about issues including the companies' relationship, Sharp's global positioning and the future of the Japanese company, Sharp said in a statement. Sharp reported in May a full-year loss of $1.9 billion after writing down the value of its panel display business and a swathe of other assets. Following the Japanese company's first net loss in six years, Liu said he would work harder on the management of Sharp but did not offer details.

Persons: Liu Young, Sharp, Foxconn, Liu, Hai's, Yimou Lee, Kiyoshi Takenaka, Anne Marie Roantree, Himani Sarkar, Tom Hogue, Kim Coghill Organizations: Hai Precision Industry, Thomson Locations: TAIPEI, Taiwan, Taipei, Tokyo

That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence (AI). China has been the go-to for companies because it is able to export processed minerals at a lower cost than other countries. In Taiwan, a senior government official said China's restrictions on exports of gallium and germanium marked "a new wave of retaliation" in a "tit-for-tat approach." Some industry watchers believed China's metals restrictions could trigger short-term supply snags and higher prices. But Navitas Semiconductor Corp (NVTS.O), which makes chips that use a substance called gallium nitride, on Wednesday said it expects no adverse effects to its business from China's export controls.

Persons: China's, Stewart Randall, Janet Yellen, Roy Lee, John Strand, Supantha Mukherjee, Hakan Ersen, Ben Blanchard, Brenda Goh, Kanishka Singh, Anne Marie Roantree, David Gaffen, David Gregorio Our Organizations: U.S . Department of Commerce, EV, Sweden's Ericsson, Ericsson, U.S, Treasury, Navitas Semiconductor Corp, Thomson Locations: SHANGHAI, STOCKHOLM, WASHINGTON, Beijing, U.S, China, United States, Shanghai, Intralink, Netherlands, Australia, Europe, Taiwan, South Korea, Japan, Korea, Copenhagen, Stockholm, Berlin, Taipei, Washington

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