Nvidia sales plunge on PC industry slump
Nvidia sales plunge on PC industry slumpBloombergNvidia Corp’s quarterly revenue missed its projections by more than US$1 billion, surprising investors and piling on more evidence that demand for electronic components is drying up quickly after a two-year boom. Intel Corp, Western Digital Corp and other companies that depend on PC sales have reported sharp declines in demand for their products. “Our gaming product sell-through projections declined significantly as the quarter progressed,” Nvidia CEO Jensen Huang (黃仁勳) said in the statement. Russia’s invasion of Ukraine also weighed on its outlook, and together the problems were expected to cut sales by about US$500 million in the fiscal second quarter, Nvidia said. Gaming revenue in the fiscal second quarter fell 44 percent from the previous quarter and 33 percent from a year earlier to US$2.04 billion, Nvidia said.
Source:Taipei Times
August 10, 2022 02:48 UTC
Taiwan must address TikTok threat
Taiwan must address TikTok threatBy Pan Kuan 潘寬In the article “Who’s afraid of TikTok? India banned TikTok for allegedly stealing Indian users’ information and surreptitiously sending it to China. With many countries on alert, is Taiwan, which is on the front line of China’s hegemonic expansion, prepared for technology like TikTok? The Economist article said that TikTok is quickly catching up to its peers, and is growing much faster than other platforms. The short-video format has caught the attention of young people, with about 44 percent of TikTok users in the US younger than 25, while only 16 percent of Facebook users are younger than 25.
Source:Taipei Times
August 08, 2022 04:10 UTC
Medvedev ends title drought in Mexico
Medvedev ends title drought in MexicoGAINING STEAM: Medvedev stamped himself as the US Open favorite, with world No. 3 Nadal injured and Djokovic unlikely to compete for refusing to get vaccinatedAFP, LOS CABOS, MexicoWorld No. 1 Daniil Medvedev on Saturday won his first ATP title of the year, roaring past defending champion Cameron Norrie 7-5, 6-0 in the final of the hardcourt tournament in Los Cabos, Mexico. Russia’s Daniil Medvedev kisses the Los Cabos Open trophy after winning the men’s final against Britain’s Cameron Norrie in Mexico on Saturday. Next he is to defend his Canadian Open title before tackling the Cincinnati Masters.
Source:Taipei Times
August 07, 2022 16:57 UTC
Beijing can ease tensions by ending drills, US says
Beijing can ease tensions by ending drills, US says‘PUNISHING THE WORLD’: US officials called on China to reverse its decision to end cooperation with the US on climate change and other key global issuesAFP, WASHINGTONThe US on Friday condemned China for cutting off bilateral cooperation in a number of key areas and said Beijing could ease tensions over Taiwan by ending its “provocative” live-fire military drills. Photo: Reuters“They’re actually punishing the whole world because the climate crisis doesn’t recognize geographic boundaries and borders,” he said. Beijing has reacted furiously to a visit by US House of Representatives Speaker Nancy Pelosi to Taiwan. Since Thursday, China has conducted a series of huge military drills around Taiwan proper, which have been roundly condemned by the US and other countries. “Once you split [the US-China relations] apart, it means higher prices, it means less efficient supply chains.
Source:Taipei Times
August 07, 2022 04:03 UTC
Medvedev downs Kecmanovic to book a Los Cabos title clash with Norrie
Medvedev downs Kecmanovic to book a Los Cabos title clash with NorrieAFP, LOS CABOS, MexicoWorld No. 1 Daniil Medvedev on Friday continued the buildup to his US Open title defense with a 7-6 (7/0), 6-1 victory over Miomir Kecmanovic in the ATP hard court touranment in Los Cabos, Mexico. He booked a title showdown with defending champion and third seed Cameron Norrie, who beat second-seeded Canadian Felix Auger-Aliassime 6-4, 3-6, 6-3. Russia’s Daniil Medvedev returns to Serbia’s Miomir Kecmanovic during their Los Cabos Open men’s singles match at the Cabo Sports Complex in Los Cabos, Mexico, on Friday. “Very tough match,” Medvedev said in his on-court interview.
Source:Taipei Times
August 06, 2022 23:28 UTC
S&P 500 falls amid fear of rate hikes
A largely upbeat second-quarter earnings season has helped the S&P 500 bounce back by about 13 percent from its mid-June lows after a rough first-half performance. The S&P 500 declined 0.16 percent to end the session at 4,145.19 points. For the week, the S&P 500 rose 0.36 percent, the Dow fell 0.13 percent and the NASDAQ added 2.15 percent. Advancing issues outnumbered falling ones within the S&P 500 by a 1.3-to-1 ratio. The S&P 500 posted four new highs and 30 new lows; the NASDAQ recorded 60 new highs and 38 new lows.
Source:Taipei Times
August 06, 2022 23:28 UTC
Hon Hai reports its best July sales performance ever
Hon Hai reports its best July sales performance everStaff writer, with CNAHon Hai Precision Industry Co (鴻海精密) on Thursday reported a record NT$475.099 billion (US$15.86 billion) in consolidated revenue for last month driven by solid demand for cloud and networking devices. A woman walks past a logo of Hon Hai Precision Industry Co, which is also known as Foxconn, in New Taipei City on May 31. Strong global demand for smart consumer products in the first seven months benefited its electronics component division, Hon Hai said. Hon Hai is scheduled to hold an investors’ conference on Wednesday to detail its second-quarter results and give guidance for this quarter. In the second quarter, Hon Hai generated NT$1.51 trillion in consolidated sales, up 11.3 percent from a year earlier and 7.26 percent from a the first quarter.
Source:Taipei Times
August 06, 2022 02:46 UTC
Gold trades at one-month high after weekly uptick
Gold trades at one-month high after weekly uptickBloombergGold traded near a one-month high after jumping the most since March on Thursday as US-China tensions and a deepening global slowdown buoyed demand for haven assets. Bullion surged 1.5 percent on Thursday and was heading for a run of three straight weekly gains after China likely fired missiles over Taiwan during military drills. Gold has risen about 6 percent from a low on July 20, benefiting from a weakening dollar and falling US bond yields. Traders will be looking at US nonfarm payrolls data that were to be released yesterday for clues on the US Federal Reserve’s tightening path. “Safe-haven demand continues to support gold ahead of the non-farm payroll data,” said Gnanasekar Thiagarajan, director at Commtrendz Risk Management Services.
Source:Taipei Times
August 06, 2022 01:15 UTC
India increases interest rates to pre-pandemic level
India increases interest rates to pre-pandemic level‘GREATER FRAGMENTATION’: The central bank’s Shaktikanta Das said that it was disquieting that ‘globalization of inflation is coinciding with deglobalization of trade’AFP, MUMBAI, IndiaThe Reserve Bank of India yesterday hiked interest rates for the third time in four months as Asia’s third-largest economy contends with a widening trade deficit and weakening currency. “Successive shocks to the global economy are taking their toll,” Reserve Bank of India Governor Shaktikanta Das said in a televised address, pointing to surging inflation and lower global growth. Reserve Bank of India Governor Shaktikanta Das speaks at a news conference at the central bank’s headquarters in Mumbai, India, yesterday. Photo: AP“Disquietingly, globalization of inflation is coinciding with deglobalization of trade,” Das said. The central bank retained its growth forecast at 7.2 percent for the 2022-2023 financial year and retained its inflation forecast at 6.7 percent.
Source:Taipei Times
August 06, 2022 01:15 UTC
TSMC to slow production as Intel delays chip launch
TSMC to slow production as Intel delays chip launchBy Lisa Wang / Staff reporterTaiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, has decided to slow down its 3-nanometer chip production as Intel Corp, one of its major customers, plans to push back the launch of its new Meteor Lake tGPU chipsets to the end of next year, market researcher TrendForce Corp (集邦科技) said yesterday. Based on Intel’s original schedule, TSMC was to start producing the new chipsets in the second half of this year using its 3-nanometer technology, which would be the most advanced technology in global chip production, TrendForce said. Apple plans to adopt the 3-nanometer technology for its M-series processors and A17 Bionic chip, it said. TSMC has said that it planned to start mass production of 3-nanometer chips in the second half of this year. In addition, TSMC might see an additional revenue boost from Intel, which could outsource production of its computing tiles to TSMC if its Intel 4 process technology development stagnates, the researcher said.
Source:Taipei Times
August 05, 2022 04:09 UTC
PLA starts live-fire drills near Taiwan
PLA starts live-fire drills near Taiwan‘IRRATIONAL ACTS’: The defense ministry condemned the drills, during which China tested successors to missiles deployed during the Taiwan Strait Crisis in 1995 and 1996By Jonathan Chin / Staff writerChina yesterday fired several Dongfeng ballistic missiles as it began four days of unprecedented military drills off Taiwan proper following US House of Representatives Speaker Nancy Pelosi’s visit to Taipei the previous day. The Chinese People’s Liberation Army (PLA) from 1:56pm to 4pm fired 11 Dongfeng missiles into waters north, east and south of Taiwan proper, the Ministry of National Defense (MND) said. Chinese military helicopters yesterday fly past Fujian Province’s Pingtan Island, one of China’s closest points from Taiwan. The Ministry of Foreign Affairs protested the drills, saying they threatened Taiwan’s national security, contributed to rising regional tensions, and caused disruptions in global trade and communications. “To have five Chinese missiles fall within Japan’s EEZ like this is a first,” Japanese Minister of Defense Nobuo Kishi told reporters.
Source:Taipei Times
August 05, 2022 04:09 UTC
PELOSI’S VISIT: Council pushes export diversification
Council of Agriculture Minister Chen Chi-chung speaks at a press conference in Taipei yesterday. The council estimates that more than 8,000 tonnes of citruses, 5,500 tonnes of largehead hairtails and 1,000 tonnes of Japanese horse mackerel would be affected, he said. Aside from helping fishers and farmers seek new markets, the council would also provide subsidies, he added. Separately, Executive Yuan spokesman Lo Ping-cheng (羅秉成) said all government agencies should be prepared for the possibility of China arbitrarily banning more Taiwanese products. Chu called for continued dialogue and not mutual animosity, adding that this is a principle that the KMT upholds.
Source:Taipei Times
August 04, 2022 02:57 UTC
Military touts readiness as Beijing issues threats
The Chinese military on Tuesday announced it would hold air and sea live-fire exercises in six locations off Taiwan proper from noon today until noon on Sunday. We will not irrationally escalate conflicts, but we will resolutely safeguard national sovereignty and national security,” he said. A map showing locations where Chinese People’s Liberation Army (PLA) will conduct military exercises and training activities including live-fire drills. China yesterday said the drills in the Taiwan Strait were “necessary and just” in the wake of Pelosi’s visit. The joint provocation by the US and Taiwan came first, China’s just defense came after,” Hua said.
Source:Taipei Times
August 04, 2022 02:57 UTC
Taiwan’s Tseng wins in Mexico
Taiwan’s Tseng wins in MexicoRUSTY: Seven-time Grand Slam champion Venus Williams lost the first singles match she has played since losing to Taiwan’s Hsieh Su-wei 49 weeks ago in ChicagoStaff writer, with AFP, WASHINGTONTaiwan’s Tseng Chun-hsin on Monday defeated Nick Chappell of the US 6-4, 6-4 at the Los Cabos Open in Mexico, his third victory on the ATP Tour this season. Taiwan’s Tseng Chun-hsin returns to Nick Chappell of the US in their Los Cabos Open men’s singles match in Mexico on Monday. Photo: EPA-EFEIn Washington, three-time Grand Slam champion Andy Murray of Britain crashed out in the opening round of the Citi Open, falling to Sweden’s Mikael Ymer. All I can do is just play another tournament and play better.”Williams had not played a WTA singles match since falling to Taiwan’s Hsieh Su-wei 49 weeks ago in Chicago. Two-time Grand Slam champion Simona Halep, coming off a Wimbledon semi-final run, beat Spain’s Cristina Bucsa 6-3, 7-5.
Source:Taipei Times
August 02, 2022 16:56 UTC
Housing sales in six cities dip 13% last month
The data for last month should be the poorest this year, as they reflected mainly deals taking place in June when daily COVID-19 cases were high, analysts said. Compared with June, housing transactions in Tainan slumped 18.2 percent to 1,836 units and tumbled 17.6 percent to 3,452 in Taichung, data from local governments showed. Interest rate hikes tend to drive buyers to the sidelines, Chen said. Pundits are looking at two more rate adjustments this year barring a significant slowdown in consumer prices, from more than 3 percent now. Home deals in New Taipei City fell 12.9 percent to 4,697 units and declined 7.3 percent to 2,273 units in Taipei.
Source:Taipei Times
August 02, 2022 16:56 UTC