Former President Barack Obama endorsed former Democratic Rep. Abigail Spanberger in Virginia’s governor race, releasing a pair of ads attacking Republicans. The contest between Spanberger, a former CIA officer, and Virginia Lt. Gov. Winsome Earle-Sears is one of only two governor races in the U.S. this November. The contests are viewed as political bellwethers ahead
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China’s decision to blacklist Canadian semiconductor research firm TechInsights has stirred fresh concerns about the opacity of its technology ecosystem. The move, which restricts Chinese entities from sharing information with the company, comes amid a widening global battle for semiconductor self-sufficiency, data control, and national security. The ban was announced by China’s Commerce Ministry on
2.8KTata Consultancy Services (TCS), India’s largest private-sector employer, has made its deepest job cuts ever as the country’s $280 billion IT services industry braces for disruption from artificial intelligence and geopolitical headwinds. The company’s workforce fell below 600,000 for the first time since 2022 after it shed 19,755 employees in the quarter ended 30 September
1.1KChina has launched an antitrust investigation into Qualcomm Inc.’s planned acquisition of Autotalks, a move targeting another major US technology firm that comes just before a pivotal meeting between the leaders of the two countries. The probe had an immediate negative impact on the US chipmaker’s stock. The State Administration for Market Regulation (SAMR) announced
1.9KThe European Union has announced an €11.5 billion investment plan for South Africa, targeting renewable energy, transport, and healthcare projects as part of its broader strategy to secure critical minerals and strengthen supply chains. The new commitment deepens Europe’s push to reduce its dependency on imports from China while reinforcing economic partnerships with Africa’s most
3.3KAlphabet Inc.’s Google has become the first company in the UK to be formally designated with “strategic market status” (SMS) by the Competition and Markets Authority (CMA). The new designation gives the regulator powers to monitor and control how Google operates its online search and advertising businesses, marking a major shift in how Big Tech
4.7KApplied Digital (NASDAQ: APLD) rallied more than 20% this morning after posting blockbuster financials for its first quarter that came in well above Street estimates. The artificial intelligence (AI) infrastructure firm posted $64.2 million in revenue, well above $45 million that analysts had forecast, and a narrower-than-expected adjusted loss of only 3 cents for its
1.6KDow futures edged higher on Friday as investors displayed cautious optimism in the backdrop of the US government shutdown entering its tenth day. Extra focus is expected to be poured on the University of Michigan’s consumer sentiment report, which is set to release on Friday, as investors look for an economic anchor amid data scarcity
4.1KIndian households own approximately $3.8 billion worth of gold, which is 88.8% of the country’s GDP, according to a Morgan Stanley research report. In terms of volume, Indian households hold 34,600 tons of gold as of June, Morgan Stanley said in the report. “This implies a positive wealth effect on the household balance sheet, given
2.3KQualcomm stock (NASDAQ: QCOM) took a hit in premarket trading on Friday after China’s antitrust watchdog, the State Administration for Market Regulation (SAMR), announced it is opening an investigation into the company’s acquisition of Israeli chipmaker Autotalks. The probe will look into whether Qualcomm “failed to properly disclose some details” during the deal. Investors reacted
