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TSMC's business has swelled thanks to a global chip shortage that was sparked by pandemic-fuelled sales of smartphones and laptops. Register now for FREE unlimited access to Reuters.com RegisterRevenue for the quarter climbed 36% to $20.23 billion, versus TSMC's prior estimated range of $19.8 billion to $20.6 billion. Shares in TSMC have fallen almost 36% so far this year, giving it a market value of $323.7 billion. The stock fell 0.6% on Thursday, compared with a 2.1% fall for the benchmark index (.TWII). TSMC has said it has seen little impact from the current down cycle in the chip sector and expected its capacity to remain tight because long-term demand for TSMC's chips was "firmly in place".

☆ Fragile yen tests 1998 low, sterling holds its breath
▼ + stars: | 2022-10-13 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen hit a trough of 146.98 per dollar overnight and last traded at 146.87. Register now for FREE unlimited access to Reuters.com RegisterIt is a whisker away from its August 1998 low of 147.64 per dollar, and well past last month's low of 145.90 per dollar which prompted Japanese authorities to intervene to buy the yen. "It has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank. The Aussie was up 0.02% at $0.6279, after sliding to a 2-1/2-year low of $0.62355 in the previous session. Overnight, data showed that U.S. producer prices increased more than expected last month.

☆ Bahamas to introduce price controls on dozens of key food staples
▼ + stars: | 2022-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Oct 12 (Reuters) - The Bahamas on Wednesday outlined the details of temporary price control measures aimed at helping families brave mounting global inflation, saying they would affect 38 key staples, such as eggs, bread and sanitary towels. Prime Minister Philip Davis announced the controls in a national address on Tuesday as part of broader measures to help the island nation, which imports many goods, tackle the effects of rising price pressures globally. The controls, which limit price increases to 15% for wholesalers and 25% for retailers, take effect from Monday and will last six months, after which they will be subject to review. Register now for FREE unlimited access to Reuters.com Register"The prime minister remains confident that these additional measures will provide relief to Bahamian families," the government said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sarah Morland in Mexico City and Jasper Ward in Nassau; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

TOKYO, Oct 13 (Reuters) - A joint venture set up by Japan's Sony Group Corp (6758.T) and Honda Motor (7267.T) is aiming to deliver its first electric vehicles by 2026 and will sell them online, starting in the United States and Japan. The update from the joint venture, Sony Honda Mobility, is the first since the two companies launched the project in June. Sony will provide the software system for the new car, from the onboard controllers to cloud-based services that will connect with entertainment and payment systems. The still-to-be named EV will likely be manufactured by Honda at one of its plants in Ohio. The new EV will be delivered to the Japanese market in the second half of 2026.

☆ Sony, Honda mobility venture to deliver new EV to U.S. in spring of 2026
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 13 (Reuters) - A joint venture set up by Japan's Sony Group Corp (6758.T) and Honda Motor (7267.T) will deliver electric vehicles (EV) to the U.S. market in the spring of 2026, a top executive said on Thursday. The new EV will be delivered to the Japanese market in the second half of 2026, said Yasuhide Mizuno, the joint venture's chairman and chief executive, and a senior Honda executive. The two companies officially agreed to the equally owned joint venture, Sony Honda Mobility, in June, with each of them investing 5 billion yen ($34.05 million) in the new venture. Honda is under pressure from investors to make cars that are carbon-free and equipped with newer technology such as self-driving features. Like its bigger rival Toyota Motor (7203.T), it has been slow to shift its fleet to electric, offering only one EV known as Honda e.($1 = 146.8300 yen)Register now for FREE unlimited access to Reuters.com RegisterReporting by Satoshi Sugiyama; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

☆ How Palantir's tech-based patriotism and politics grew into a multi-billion dollar company
▼ + stars: | 2022-10-13 | by ( Cameron Costa | ) www.cnbc.com time to read: +4 min

The data mining and software company got its start with government contracts, and 19 years since its inception, Palantir's government work is still central to its business. At its start, Palantir's business came directly from the FBI, the NSA, and even the CIA, whose venture arm In-Q-Tel was one of the company's earliest backers. For Karp, data and defense are intertwined, and his company's contracts with government agencies reflect a commitment to leveraging technology to bolster the West. Karp founded the company with well-known conservative tech investor Peter Thiel, and the two have publicly sparred over politics and technology. However, even as a $16.7 billion market cap publicly traded company, Palantir's work remains opaque.

☆ Buffet-backed BYD taps India as latest market amid global push
▼ + stars: | 2022-10-11 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

BYD's Atto 3 electric SUV car is displayed during its launch in New Delhi, India, October 11, 2022. REUTERS/Adnan AbidiNEW DELHI, Oct 11 (Reuters) - Warren Buffet-backed Chinese electric carmaker BYD (002594.SZ) launched its first passenger car in India on Tuesday, an electric sport-utility vehicle (SUV), marking its entry into the mainstream market amid a broader global expansion. BYD launched the Atto 3 electric SUV, fitted with its renowned Blade battery technology, with a plan to corner 40% of the country's electric car market by 2030. "India will be one of the key markets in BYD's global portfolio," Sanjay Gopalakrishnan, senior vice president of electric passenger vehicles at BYD India, told Reuters. BYD's India push comes amid tight scrutiny of investments from bordering nations, including China.

☆ BYD enters India's passenger car market amid global push
▼ + stars: | 2022-10-11 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

NEW DELHI, Oct 11 (Reuters) - Warren Buffet-backed Chinese electric carmaker BYD (002594.SZ) launched its first passenger car in India on Tuesday, an electric sport-utility vehicle (SUV), marking its entry into the mainstream market amid a broader global expansion. BYD, which already sells electric buses and electric vehicles (EVs) for corporate fleets in India, launched the Atto 3 electric SUV, fitted with BYD's renowned Blade battery technology, in the world's fourth-largest car market where Tata Motors (TAMO.NS) dominates electric car sales. It launched the Atto 3 electric SUV in Thailand on Monday. BYD's push into India also comes at a time when the South Asian country continues to maintain tight scrutiny of investments coming from bordering nations, including China. BYD has two manufacturing plants in India, spread over 140,000 square metres with more than 3,000 employees, Zhang said.

It also encapsulates macro hedge funds' trading strategy today - while most investors got smoked in the third quarter as stocks, bonds and commodities slumped, macro funds raked it in thanks to the surging U.S. dollar. There is little indication the wave is about to crash any time soon, and although hedge funds have reduced their exposure in recent weeks, they remain comfortably long. LONG, LONG, LONGThe dollar index, a measure of the greenback's value against a basket of six major currencies, rose 7.1% in the third quarter, its best performance since early 2015. But CFTC hedge funds have held a net long dollar position every week since August last year, and a $10 billion bet is still a pretty resounding endorsement of the U.S. currency over its major rivals. With numbers like these, it looks like funds may be buying dollars and wearing diamonds for a good while yet.

☆ On New Zealand farm, scientists reduce cow burps to save the world
▼ + stars: | 2022-10-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +6 min

New Zealand has pledged to cut biogenic methane emissions by 10% on 2017 levels by 2030 and by up to 47% by 2050. Royal DSM's (DSMN.AS) Bovaer feed additive can reduce methane emissions by 30% in dairy cows and by more in beef cattle. Agricultural emissions account for around half of the country's greenhouse gas emissions. While pricing farm emissions is not universally popular, many believe it is the push farmers need to reduce them. For Fonterra, research also remains key as it aims to cap farm emissions at 2015 levels.

From Tuesday, Japan will reinstate visa-free travel to dozens of countries, ending some of world's strictest border controls to slow the spread of COVID-19. Just over half a million visitors have come to Japan so far in 2022, compared with a record 31.8 million in 2019. GHOST TOWNNarita Airport, Japan's biggest international airport some 70 kilometres from Tokyo, remains eerily quiet, with about half of its 260 shops and restaurants shuttered. Whether overseas visitors wear face masks and abide by other common infection controls in Japan is another concern. "From the start of the pandemic until now, we've had just a few foreign guests," said Tokyo innkeeper Sawa.

☆ Chinese regulator gives greenlight to fund targeting Korean chipmakers
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 10 (Reuters) - China's securities regulator has given the greenlight to the country's first mutual fund targeting top Chinese and South Korean chipmakers, an official at Huatai-PineBridge Fund Management Co said, amid an escalating Sino-U.S. tech war. The China Securities Regulatory Commission's approval comes amid heightened geopolitical tensions between the world's two largest economies. The exchange-traded fund (ETF) will invest in top Korean semiconductor firms including Samsung Electronics Co (005930.KS) and SK Hynix Inc (000660.KS), as well as Chinese chipmaking giants such as Semiconductor Manufacturing International Corp and Montage Technology Co (688008.SS). In 2021, South Korea was China's second-biggest exporting country in equipments, including chipmaking tools, and Chinese exports to South Korea have also been rising, the fund manager said. South Korea said on Saturday there would be no significant disruption to equipment supply for Samsung and SK Hynix's existing chip production in China from the U.S. move.

☆ China urges 'patience' as COVID cases rebound ahead of key congress
▼ + stars: | 2022-10-10 | by ( Ryan Woo | ) www.reuters.com time to read: +5 min

People line up to get tested for the coronavirus disease (COVID-19) at a nucleic acid testing site, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, October 10, 2022. REUTERS/Aly SongSummary Local COVID cases in China rise to highest since Aug. 20Covid epicentre in northern region of Inner MongoliaParts of Shanghai close leisure, entertainment venuesBEIJING, Oct 10 (Reuters) - China called for "patience" with its tough COVID policies and warned against any "war-weariness" as local cases soared to their highest since August, days ahead of a pivotal Communist Party congress. A few days into the Golden Week, the western region of Xinjiang also barred people from leaving as cases ticked higher. Tourists stranded in Xinjiang could seek temporary work as electricians, cooks and wood craftsmen, advised authorities in its capital Urumqi. Shanghai, which locked down its entire population of 25 million in April and May, reported 34 local cases on Oct. 9, the most in almost three months.

REUTERS/Benoit Tessier/File PhotoLONDON, Oct 7 (Reuters) - A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year. Criminals have increasingly targeted them, with some $2 billion stolen in 13 different hacks, mostly this year, researcher Chainalysis said in August. Register now for FREE unlimited access to Reuters.com RegisterThe hackers stole around $100 million worth of crypto, Zhao said in his tweet. BNB Chain later said in a blog post that a total of 2 million of the BNB cryptocurrency - worth around $570 million - was withdrawn by the hacker. BNB Chain suspended its blockchain for several hours before resuming at around 0630 GMT, it said in a tweet.

The raft of measures could amount to the biggest shift in U.S. policy toward shipping technology to China since the 1990s. If effective, they could hobble China's chip manufacturing industry by forcing American and foreign companies that use U.S. technology to cut off support for some of China's leading factories and chip designers. The rules published on Friday also block shipments of a broad array of chips for use in Chinese supercomputing systems. "The U.S. should stop the wrongdoings immediately and give fair treatment to companies from all over the world, including Chinese companies." On Saturday, China's foreign ministry spokesperson Mao Ning called the move an abuse of trade measures designed to reinforce the United States' "technological hegemony".

☆ Hurricane Ian videos capture heroic rescues and widespread devastation in Florida
▼ + stars: | 2022-09-29 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

After the eye of Hurricane Ian wreaked havoc over Florida Wednesday, striking videos have surfaced showing heroic rescues of people stranded in submerged cars and wading in floodwaters, as well as heartbreaking footage of the widespread devastation left in the storm’s wake. As Floridians grapple with rushing floodwaters, life-threatening storm surges, and a blackout affecting more than 2 million people — glimmers of hope have emerged in videos showing how the community has stepped up to protect one another. Glen rushing out there and helping some people in.”In Naples, the Naples Fire-Rescue Department shared video showing the rescue of a woman from a submerged vehicle Wednesday. The video shows the moment the man is lifted from the vehicle and two men carry him through waist-deep water looking for a safe place to hunker down. Videos uploaded online show the havoc the storm left in its wake and how quickly it came ashore, submerging entire neighborhoods.

Hurricane Ian had weakened to a Category 1 late Wednesday, but the powerful storm that caused life-threatening storm surges, floods that stranded people in their homes and knocked out power to more than 2 million was not over, officials warned. At 2 a.m., Ian was around 55 miles southwest of Cape Canaveral and moving northeast at 9 mph, the hurricane center said. The storm is believed to be one of the strongest hurricanes ever recorded making landfall in Florida. Central and northeast Florida could get 20 inches of rain, and life-threatening storm surge remained a risk for parts of Florida’s western and eastern coasts, the hurricane center said. But it then will likely turn north and approach the northeastern Florida, Georgia and South Carolina coasts Friday, according to the hurricane center.

☆ Toyota global vehicle output rises 44.3% in Aug to record for month
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Sept 29 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday its global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas. Vehicle production soared 44.3% in August year-on-year, the first increase since March. The world's largest automaker by sales produced 766,683 vehicles worldwide last month, above its target of around 700,000 and above year-ago output of 531,448. Still, Toyota said the outlook remained uncertain due to the global chips shortage and COVID-19 outbreaks. Last week, the company said it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages.

☆ Toyota global vehicle production up 44.3% in Aug, record for that month
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Sept 29 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas. Vehicle production soared 44.3% in August year-on-year, the first increase since March. The world's largest automaker by sales produced 766,683 vehicles worldwide last month, above its target of around 700,000 and above the year-ago output of 531,448. Register now for FREE unlimited access to Reuters.com RegisterOutput increased mainly overseas in August, with domestic production up 5.6% year-on-year and overseas production jumping by 65.1% from a year ago, also a record rise for the month of August. Overseas sales also hit a record for the month of August, driven by a rebound from a decline in sales last year due to coronavirus outbreaks in China and the rest of Asia.

☆ Audit breakthrough fails to lure investors into China ADRs
▼ + stars: | 2022-09-29 | by ( Summer Zhen | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterChinese stocks trade in the United States as American Depositary Receipts (ADRs) - U.S. securities that represent foreign shares of a foreign company. Every time, there's another wind comes in that nobody could have seen," said Andy Maynard, global head of equities at China Renaissance Securities. U.S. regulators had long disputed China's refusal to grant them full access to company accountants and audit papers, which had threatened their listings. But a deal struck in August has paved the way for audit inspections to begin this month. Register now for FREE unlimited access to Reuters.com RegisterReporting by Summer Zhen; Editing by Tom Westbrook and Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

☆ Florida's wealthy residents have been chartering private jets to hurry away from the state in the days before Hurricane Ian
▼ + stars: | 2022-09-29 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

People have hopped on private jets to escape Hurricane Ian, Bloomberg reported. A private jet operator said requests for flights out of Florida grew in the run-up to the storm. Airports that have stopped commercial operations include Orlando, Naples, Tampa, Jacksonville, and Fort Meyers. The company has a private terminal in Naples on Florida's southwest coast — one of the main areas being battered by the storm. Airports that have stopped commercial operations over the past two days include ones in Orlando, Naples, Tampa, Jacksonville, and Fort Meyers.

A flooded street is seen in downtown as Hurricane Ian makes landfall in southwestern Florida, in Fort Myers, Florida, U.S. September 28, 2022. REUTERS/Marco BelloVENICE, Fla., Sept 29 (Reuters) - A weakened but still formidable Hurricane Ian chugged across Florida toward the Atlantic seaboard on Thursday after thrashing the state's Gulf Coast with fierce winds, torrential downpours and raging surf that flooded oceanside communities. Separately, U.S. border authorities said 20 Cuban migrants were missing after their boat sank off the Florida coast as Ian neared the coast on Wednesday. Up to 30 inches (76 cm) of rain was forecast to fall on parts of central Florida, the NHC said. DeSantis said Ian had generated life-threatening storm surges - waves of wind-driven seawater rushing in along the coast - of up to 12 feet (3.7 meters) in some places.

☆ Hurricane Ian downgraded to tropical storm as it continues to batter Florida
▼ + stars: | 2022-09-29 | by ( Phil Helsel | ) www.cnbc.com time to read: +1 min

A flooded street is seen in downtown as Hurricane Ian makes landfall in southwestern Florida, in Fort Myers, Florida, U.S. September 28, 2022. Hurricane Ian was downgraded to a tropical storm Thursday morning, but officials have warned the powerful storm that brought life-threatening storm surges, floods that left people stranded in their homes and knocked out power to more than 2.5 million customers was not over. President Joe Biden on Thursday declared a major disaster in Florida over the devastation caused by the storm. By 5 a.m., Ian was around 55 miles southwest of Cape Canaveral and moving northeast at 9 mph, the hurricane center said. The storm is believed to be one of the strongest hurricanes ever recorded making landfall in Florida.

Share this -Link copiedFloridians are livestreaming Hurricane Ian on TikTok Floridians are giving TikTok users a front-row seat to Hurricane Ian. Storm surge map, they didn’t have a color for 12 to 15 feet," he said about the historic levels of storm surge expected near where Ian is expected to make landfall. Share this -Link copiedA view of Hurricane Ian from the International Space Station A view of Hurricane Ian from the International Space Station, on Monday. Share this -Link copiedSatellite images show Hurricane Ian approaching Florida Hurricane Ian over the Gulf of Mexico early Wednesday. Share this -Link copiedIan expected to strengthen until making landfall, officials say Hurricane Ian is still forecast to strengthen until the hurricane makes landfall in Florida, the National Hurricane Center said.

☆ Self-proclaimed 'incel' charged with pepper spraying women in Southern California hate attacks
▼ + stars: | 2022-09-28 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

SANTA ANA, Calif. — A 25-year-old man has been charged with pepper spraying women in hate attacks in Southern California, prosecutors said Tuesday. Johnny Deven Young faces multiple charges including assault and illegal use of tear gas with enhancements for using a deadly weapon and hate crimes, the Orange County District Attorney’s office. Prosecutors said Young posted videos of himself pepper spraying and harassing women online and declared himself a so-called “incel,” a member of an online community of men who call themselves involuntary celibates and express rage against women. “These charges send a very strong message to that entire community that we will not tolerate violence against women in any form,” District Attorney Todd Spitzer said in a statement. Young was arrested in San Mateo County and returned to Orange County, where he appeared in court on Monday.

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