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☆ China's Xiaomi will price its Tesla EV rival under $69,400, CEO says ahead of Thursday launch
▼ + stars: | 2024-03-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

On Thursday, Xiaomi will officially launch the SU7 electric vehicle and begin taking orders. Xiaomi CEO Lei Jun on Monday teased the price of the Chinese firm's first electric vehicle ahead of its official launch this week. Xiaomi Group President Weibing Lu told CNBC previously that the company is targeting the premium segment of the electric car market. The EV market is in the midst of a price war which was sparked by Tesla at the end of 2022. "Three years ago, I announced that Xiaomi was going to enter the EV market.

Persons: Xiaomi, Lei, Lei Jun, Weibing Lu, Li Auto, Tesla Organizations: Weibo, Xiaomi, CNBC, stoke, EV Locations: Hefei, Anhui Province, China, Xiaomi

☆ Fisker shares halted as EV company navigates uncertain future
▼ + stars: | 2024-03-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.

Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, ” Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American

☆ Why are bidets just now getting popular in America?
▼ + stars: | 2024-03-24 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +8 min

It took a toilet paper shortage for some to come around to the 18th-century invention. A common reason why bidets aren’t used in the US is that during World War 2, American soldiers saw brothels utilizing bidets. Big Toilet PaperWhen the great toilet paper shortage hit in 2020, many Americans realized there could be another way to clean themselves. Using toilet paper had seemed, somehow, American, with toilet paper jokes a staple in bathroom humor and “TP-ing” a stereotypical rite of passage for teens. With the toilet paper mania, she decided to kill two birds with one stone and splurge on a Tushy.

Persons: bidets, – washlets, “, James Lin, Lin, Miki Agrawal, Toto, “ Gosh, ” Joe, aren’t, Elisabeth of Bavaria, Carl Knoll, Joe, Agrawal, can’t, ” Atieh, ” Derek Rucker, Rucker, Mikaela Koelzer, Koelzer, ” Koelzer, ” Organizations: New, New York CNN, CNN, Carl Knoll Porcelain, Kellogg School of Management Locations: New York, bidetking.com, American, Michigan, France, Europe, East, East Asia, Japan, United States, Carlsbad, Gmunden, Spain, Indian, Illinois, Jordan, Chicago

☆ My dog died in the middle of the night in my bed. The worst part of having a dog is knowing you'll outlast them.
▼ + stars: | 2024-03-23 | by ( Erika Wasser | ) www.businessinsider.com time to read: +5 min

My dog died in my bed in the middle of the night. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . My electronics were useless, Harry — my dog — and I faced our last test together. The worst part of dog ownership is knowing you'll outlast them. AdvertisementWe got to the vet, where they took the dog and returned the bag empty, but the bag had to go.

Persons: —, Siri, Harry —, you'll, Harry, wasn't, We'd, yelped, he'd, we'd, He's, Louis Vuitton Organizations: Service, Cancer, tote Locations: New York, dogless, Harry's

☆ I haven't used a clock in years. I can focus better and use calendar notifications to tell me where to be.
▼ + stars: | 2024-03-22 | by ( Megan B. Wells | ) www.businessinsider.com time to read: +4 min

I'd watch the clock and count the minutes until I got to do things such as eat lunch. It wasn't healthy, so I removed all the clocks around me and could focus more. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I checked how long I'd been working on a particular task and whether I could justify switching focus or stopping. The author taped over appliances that didn't allow her to remove the clock, such as her oven.

Persons: —, I'd, it's Organizations: Service, Electronics Locations: —

☆ TSMC: How the world’s biggest chipmaker is working to overcome a shortage of talent
▼ + stars: | 2024-03-22 | by ( Eric Cheung | Will Ripley | ) edition.cnn.com time to read: +7 min

All that changed three years ago, when a global chip shortage and rising geopolitical tension turbocharged growth at TSMC. TSMC set up the Newcomer Training Center inside a sprawling science park in the city of Taichung in central Taiwan in 2021. “After many years, what we want to do is to gradually reduce assignees [and] increase the local hires.”The Newcomer Training Center opened in 2021. The soaring demand, particularly for chips that power AI, has created a shortage of talent for the semiconductor industry. Countries compete for this talent.”TSMC’s Ho said a shortage of talent is one of the main challenges the company faces.

Persons: Taiwan CNN —, —, TSMC, Joe Biden, ”, Marcus Chen, ” Lora Ho, John Mees, Stewart Randall, ” TSMC’s Ho, Ho, Kristy Hsu, “, it’s, ” Ho, “ It’s, — CNN’s Juliana Liu Organizations: Taiwan CNN, Moore’s, Apple, Nvidia, AMD, CNN, “, Training, Taiwan Semiconductor Manufacturing, IC, Taiwan ASEAN Studies Center, Economic Research Locations: Taichung, Taiwan, TSMC, Arizona, fabs, United States, Japan, Germany, China, Washington, Kumamoto, Phoenix , Arizona, Dresden, Europe

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Micron, Honeywell, Boeing, Snowflake, Zoom, Best Buy and more
▼ + stars: | 2024-03-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."

Persons: Goldman Sachs, Charles Schwab, Bernstein, –, Redburn, Cooper, Jefferies, ZM, Mizuho, Baird, KeyBanc, Raymond James, Morgan Stanley, Stephens, Guggenheim, Wells, Wells Fargo Organizations: Nvidia, Deutsche Bank, Northern Trust Deutsche Bank, Northern Trust, Apple, Google, Barclays, Cooper Companies, Citi, Honeywell, Honeywell International Inc, Union Pacific Corp, Mizuho, UBS, Boeing, Micron, TEAM, Logistics, Industries, JPMorgan, Systems, Bank of America, Avis Budget, OW, Equity, Accenture, Starbucks Locations: Snowflake, 2H24E, Truist

☆ Buy this 'stealth' home improvement stock as housing market improves, Loop Capital says
▼ + stars: | 2024-03-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

It may not be investors' first idea when thinking of home improvement stocks, but Loop Capital sees Best Buy as an under-the-radar pick as the housing market improves. Loop managing director Anthony Chukumba, who has a buy rating on Best Buy, sees the electronics retailer as a potential "stealth housing play." "We were encouraged by the latest macroeconomic data, particularly the ongoing labor market strength and the housing market 'green shoots,'" Chukumba wrote to clients. Chukumba said home furnishing retailers such as Floor & Decor , RH and Williams-Sonoma should also benefit as the housing market improves. Best Buy shares have struggled this year, shedding about 2% and lagging far behind the rest of the market.

Persons: Anthony Chukumba, Chukumba Organizations: Williams Locations: Sonoma, Minnesota

☆ Shigeichi Negishi, Japanese inventor of first karaoke machine, dies aged 100
▼ + stars: | 2024-03-18 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

CNN —Shigeichi Negishi, the entrepreneur who invented the world’s first karaoke machine, has died aged 100. Negishi, whose 1967 “Sparko Box” prototype is among several devices credited with ushering in Japan’s karaoke craze, died from natural causes in January. His death, which was made public last week, was confirmed to CNN by Shiro Kataoka, managing director of the All-Japan Karaoke Industrialist Association. “When I asked the factory engineer, he said, ‘It’s easy,’” Negishi recalled in an account published by the All-Japan Karaoke Industrialist Association, an industry body for Japan’s karaoke operators. Subsequent developments, including the introduction of video karaoke and networked karaoke systems, helped the phenomenon spread across Asia and the world in the following decades.

Persons: Shigeichi Negishi, Shiro Kataoka, Negishi, ‘, ” Negishi, Leon Harris, Matt Alt, Yoshio Kodama’s, ”, “, I’d, Association’s, ” Shigeichi Negishi, Hiroko Yoda, Daisuke Inoue, Inoue Organizations: CNN, Japan Karaoke, Association ., Association, “ Locations: Japan, Tokyo, Asia

☆ TSMC considering advanced chip packaging capacity in Japan, sources say
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +1 min

Worker walks outside the new semiconductor plant by Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of Taiwan's chip giant TSMC, in Kikuyo of the Kikuchi district, Kumamoto prefecture. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. One option the chipmaking giant is considering is bringing its chip on wafer on substrate, or CoWoS, packaging technology to Japan, according to one of the sources who was briefed on the matter. Demand for advanced semiconductor packaging has surged globally in tandem with the artificial intelligence boom, spurring chipmakers including TSMC, Samsung Electronics and Intel , to boost capacity.

Persons: TSMC Organizations: Japan Advanced Semiconductor Manufacturing Company, Taiwan Semiconductor Manufacturing, TSMC, Samsung Electronics, Intel Locations: Japan, Kikuyo, Kikuchi, Kumamoto prefecture, Taiwan's, Taiwan

☆ Disney gets a win in Nelson Peltz board fight. 2 other portfolio stocks mount comebacks
▼ + stars: | 2024-03-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Disney gets a win : A major proxy advisor weighed in on the Disney -Trian board battle. Glass Lewis said Monday it recommends Disney shareholders vote for the company's director nominees and not the slate forth by Trian's Nelson Peltz. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Glass Lewis, Trian's Nelson Peltz, Jay Rasulo, Nelson, Mondelez, Heinz, Jim, DuPont, Jim said, Stephanie Cohen, Goldman Sachs, Cohen, Jensen Huang, Jensen's, Jim Cramer's, Spencer Platt Organizations: CNBC, Nvidia, Apple, Disney, Procter & Gamble, GE Healthcare, General Electric, GE, Evercore, DuPont, Protection, Samsung, Taiwan Semiconductor Manufacturing, PepsiCo, Constellation Brands, Citi, GEHC, Traders, New York Stock Exchange, Getty Locations: China, New York City

☆ CNBC Daily Open: Fed rate meet in focus
▼ + stars: | 2024-03-18 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nikkei 225 and the Topix gained, while China's CSI 300 index and Hong Kong's Hang Seng also rose. Wall Street ended lower on Friday as focus shifts to the Federal Reserve's policy meeting this week for insights on rate cuts. [PRO] U.S. election risk on China stocksGoldman Sachs has revised its barometer for the level of risk from U.S.-China tensions in Chinese stocks.

Persons: Seng, Ashwini Vaishnaw, Joe Biden, Goldman Sachs Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Retail, White, Congress Locations: Asia, Japan, China, India, U.S

☆ India wants to be a global chip powerhouse in 5 years
▼ + stars: | 2024-03-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

India wants to be among the world's top five semiconductor producers in the next five years, said Ashwini Vaishnaw, minister of electronics and information technology, railways and communications. The chip industry "is a very complex market, and global value chains and global supply chains are extremely complex in the current context," Vaishnaw said on CNBC's Street Signs Asia on Friday. As of December, Taiwan holds about 46% of global semiconductor foundry capacity, followed by China (26%), South Korea (12%), the U.S. (6%) and Japan (2%), according to market intelligence firm TrendForce. I call it 'trust shoring' because there is a global trust in India," Vaishnaw said. "A lot of our chips are designed in India, and that presence in India is also creating opportunities for a number of Indian companies."

Persons: Ashwini Vaishnaw, Vaishnaw, Narendra Modi, Frank Huang, Rajeev Chandrasekhar Organizations: Qualcomm, CNBC, Tata Electronics, Powerchip Semiconductor Manufacturing Corp, PSMC, Economic Times Locations: India, Taiwan, China, South Korea, U.S, Japan, Chennai

☆ Six more years of Putin will worry many countries. But not China
▼ + stars: | 2024-03-17 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

A stable relationship with Moscow, too, allows Beijing to focus on other areas of concern such as Taiwan and the South China Sea. “Xi sees Putin as a genuine strategic partner,” said Steve Tsang, director of the SOAS China Institute at the University of London, ahead of the Russian election results, adding that anything less than a landslide win for Putin would be “a disappointment” for Beijing. The Russian leader has weathered an apparent miscalculation that what his government still calls a “special military operation” in Ukraine would be a swift success. Jose Colon/Anadolu Agency/Getty ImagesWatchful BeijingBut that doesn’t mean countries tied to Moscow aren’t also watching the conflict in Ukraine carefully. That may be especially true for China, Russia’s most powerful strategic partner.

Persons: Hong Kong CNN —, Vladimir Putin’s, Xi Jinping, Xi, Putin, Jens Stoltenberg, ”, Steve Tsang, Mao Zedong, won’t, Putin’s, Kim Jong Un, Kim, Kim Jong, Sergei Shoigu, Yevgeny Prigozhin, he’s, Alexey Navalny, –, BRICS, Jose Colon, Moscow aren’t, “, Eurasia Li Hui, Wang Yiwei, Putin –, Li Organizations: Hong Kong CNN, Ukraine grinds, Kremlin, NATO, Washington, SOAS China Institute, University of London, Putin, Russia's, KCNA, Reuters, United Arab Emirates, Russian, Anadolu Agency, Getty, Moscow, Renmin University, Beijing, CNN Locations: China, Hong Kong, Russia, Taiwan, Beijing, Moscow, South China, North Korea, Russia’s Far, Washington, Pyongyang, South Korea, Iran, India, Ukraine, Vladivostok, Russian, United States, Brazil, South Africa, UAE, Ethiopia, Egypt, Russia’s Kazan, Crimea, Sochi, West, Israel, Gaza, Ukrainian, Eurasia, Europe, Beijing –

British electronics chain Currys experienced more rejection Friday with Chinese online retailer JD.com walking away from a takeover race for the firm, just days after Elliott Investment Management did the same. In a brief statement Friday afternoon, JD.com said it would no longer pursue an offer for the Main Street brand, less than a month after entering the running. "JD.com today confirms that, following careful consideration, it does not intend to make an offer for Currys," it said. Currys shares plunged more than 10% on the announcement, before paring losses slightly. The electronics retailer, which operates more than 820 stores across eight countries, has become the subject of a possible takeover as it has struggled in the face of increased competition and depressed consumer spending.

Persons: JD.com, Currys Organizations: Elliott Investment Management Locations: London

☆ Premarket stocks: Investors are on cloud nine. That could be a bad sign
▼ + stars: | 2024-03-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Unsurprisingly, several flashing indicators suggest that investors are feeling good about the market:• CNN’s Fear & Greed Index: The indicator, which measures seven barometers of market sentiment including the VIX, Wall Street’s most well-known measure of expected stock volatility, is in “greed” territory. Market sentiment is often seen as a contrarian indicator. That means that when the herd is optimistic, money managers take it as a sign that stocks will fall, and vice versa. A closely watched gauge of US wholesale inflation rose at its fastest pace in months, according to new data released Thursday. In February, car sales climbed 1.8%, purchases of electronics and appliances increased 1.5% and sales at restaurants rose 0.4%.

Persons: • Charles Schwab, Yardeni, “, Alicia Wallace, Price, Gus Faucher, Read, Bryan Mena Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Intelligence, Research, Bureau of Labor Statistics, PPI, of Labor Statistics, PNC Financial Services, Retail, Commerce Department, Gas Locations: New York

☆ India expects to be among 'top five semiconductor nations' in next five years: Minister
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia expects to be among 'top five semiconductor nations' in next five years: MinisterAshwini Vaishnaw, India's minister of electronics, IT, railways and communications, says the country aims to be a "trusted value chain partner for fabless companies, for electronic device manufacturers," among other things.

Persons: Ashwini Vaishnaw Organizations: India

☆ Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had "relatively conservative and neutral" expectations for 2024. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely to drop in the period. Apple last month reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business though its China sales missed analysts' targets.

Persons: 20JUL16 SCMP, Nora Tam, Foxconn, Young Liu Organizations: South China Morning, Getty, Foxconn, Hai Precision Industry Co, Apple, Wall Locations: Foxconn, Longhua, Shenzhen, 20JUL16, South, China

☆ The U.S. wants ByteDance to sell TikTok. China is almost certainly going to refuse
▼ + stars: | 2024-03-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Visitors are visiting TikTok's stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. CostFoto | Nurphoto | Getty ImagesThe U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to divest its U.S. business or effectively ban the app. But a sale looks unlikely — not least because China is expected to block it. Last year, the U.S. Committee on Foreign Investment in the United States (CFIUS) told ByteDance to divest TikTok or face a ban. TikTok algorithm at the centerWhat complicates a sale further is TikTok's algorithm.

Persons: ByteDance, Paul Triolo, Albright Stonebridge, CNBC's, Wang Wenbin, Shu Jueting, CFIUS, China's Shu, Triolo, Richard Windsor Organizations: Appliance, Electronics, Nurphoto, Senate, Washington, Lawmakers, Chinese Communist Party, TikTok's, China's Ministry of Foreign Affairs, NBC, U.S ., Foreign Investment, China's Ministry of Commerce, Radio Free Mobile, TikTok Locations: Shanghai, China, United States, TikTok, U.S, ByteDance, TikTok USA, USA

☆ FCC cracks down on cable TV ‘junk fees’
▼ + stars: | 2024-03-14 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

The new junk fees rule requires cable and satellite TV companies to list “all-in” prices to consumers in their billing and marketing materials — including any miscellaneous fees, such as those related to sports programming or local broadcast channels. Between 24% and 33% of the typical consumer’s bill can be attributed to fees, consumer advocates told the FCC. In a separate move last year, the FCC proposed banning certain cable fees altogether, including early termination fees that the agency says hinder competition and prevent customers from easily switching providers. Mending the digital divideIn addition to cable, the FCC also addressed internet availability during its Thursday meeting. Defining high-speed internetThe report also reflects newly adopted revisions in how the country defines high-speed internet, which the FCC voted to approve on Thursday.

Persons: “, ”, Jessica Rosenworcel, ’ ”, NCTA, Dave Wallace, Amira Karaoud, Biden, Rosenworcel, you’re, Anne Neuberger, Neuberger Organizations: Washington CNN, Federal Communications Commission, FCC, Energy Star, National Institute for Standards, Technology, Logitech, LG, Samsung, Consumer, European Union Locations: Kentucky, Louisville , Kentucky, U.S, greenlight, Las Vegas, America

☆ The ‘drinking bird’ makes a comeback and could power your gadgets with clean energy
▼ + stars: | 2024-03-14 | by ( Billy Stockwell | ) edition.cnn.com time to read: +4 min

“I began to contemplate whether we could convert the evaporation energy into mechanical energy first, and then translate it into electricity,” Wu said. Until now, previous attempts to convert evaporation energy into electricity have suffered from a low-conversion efficiency. The authors claim that their drinking bird generator can yield much more power than previous experiments that used other methods were able to. The team’s next goal is to design its own drinking bird that can harness the power of evaporation more efficiently. If they’re successful, the retro drinking bird may be here to stay.

Persons: it’s, Hao Wu, “, ” Wu, Wu, they’re Organizations: CNN, South China University of Technology Locations: Hong Kong, China

☆ Retail sales rebounded in February amid higher gas prices
▼ + stars: | 2024-03-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Retail sales at stores, online and in restaurants rose 0.6% in February from the prior month, up from January’s revised 1.1% decline, the Commerce Department reported Thursday. The broader US economy remains on strong footing, with employers continuing to hire and Americans still raking in strong wage gains. Sales were up across most categories last month, rising the most at home improvement stores, by a solid 2.2%. In February, car sales climbed 1.8%, purchases of electronics and appliances increased 1.5% and sales at restaurants rose 0.4%. Spending is heavily influenced by the state of the labor market, which remains solid.

Persons: don’t, ”, Robert Frick, “ It’s, “ Organizations: Washington CNN, Commerce Department, Consumers, Navy Federal Credit Union

☆ Dollar Tree posts downbeat results, plans to shut nearly 1,000 stores
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Dollar Tree missed Wall Street expectations for quarterly sales and profit on Wednesday and laid out plans to shutter 970 of its Family Dollar stores, as the retailer looks to revamp the struggling business. Dollar stores have been struggling to deal with a shift in consumer spending to lower-margin essentials from higher-margin discretionary products like home decor, electronics and toys. In November, Dollar Tree had said it would be reviewing its Family Dollar business, including potentially shutting down underperforming stores, to return to growth. The discount store chain said it would close about 600 Family Dollar stores in the first half of fiscal year 2024 and 370 more over a period of a few years along with 30 Dollar Tree outlets, as their lease terms expire. For the full year, Dollar Tree expects sales between $31 billion and $32 billion, the mid-point of which is below analysts' estimate of $31.65 billion.

Organizations: Walmart Locations: Chesapeake , Virginia

☆ Japan Inc set to offer big wage hikes, paving way for end to negative rates
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Economists see substantial wage increases as a prerequisite for the Bank of Japan, or BOJ, to declare that its long-held goals of sustainable wage growth and stable prices are in sight and usher in an end to negative rates in place since 2016. As a result, some analysts expect this year's wage increases at 5% or more, from just under 4% previously. Unions across industries, including automobiles, electronics, metals, heavy machinery and the service sector have all demanded hefty pay hikes.

Organizations: Toyota Motor, Japan's, Bank of Japan, Workers Locations: Toyota, Nagoya, Japan

☆ Malaysia Rises as Crucial Link in Chip Supply Chain
▼ + stars: | 2024-03-13 | by ( Patricia Cohen | ) www.nytimes.com time to read: +1 min

Construction cranes still surround the brand-spanking new plant in Kulim’s industrial park in Malaysia. But inside, legions of workers hired by the Austrian tech giant AT&S are already gearing up to produce at full capacity by year’s end. The American chip giant Intel and the German corporation Infineon are each investing $7 billion. Nvidia, the world’s leading maker of chips powering artificial intelligence, is teaming up with the country’s utilities conglomerate to develop a $4.3 billion artificial intelligence cloud and supercomputer center. Texas Instruments, Ericsson, Bosch and Lam Research are all expanding in Malaysia.

Organizations: Intel, Infineon, Nvidia, Texas, Ericsson, Bosch, Lam Research Locations: Malaysia, Austrian

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