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Protection racket? Asian semiconductor giants fear looming tariffs
Inside one of South Korea's oldest semiconductor research institutes, the cleanrooms and workshops are calm and immaculate, but outside the Seoul National University campus, a chip storm is brewing.
Sony logs 18% annual net profit jump, forecast cautious
Japanese entertainment and electronics giant Sony on Wednesday reported an 18 percent jump in annual net profit but issued a cautious forecast for the current financial year. The firm logged a net profit of 1.14 trillion yen ($7.7 billion) for the 2024-25 financial year, but said it expects that to fall 13 percent to 930 billion yen in 2025-26.
China, US to lift sweeping tariffs in trade war climbdown
The United States and China will lift sweeping tariffs on each others' goods for 90 days on Wednesday, after a temporary ceasefire in a brutal trade war that roiled global markets and international supply chains. Under the deal, the United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent -- down by over 100 percentage points.
Asian markets swing as China-US trade euphoria fades
Asian stocks fluctuated Wednesday, with investors struggling to track a strong day on Wall Street as euphoria over the China-US trade detente petered out. "We have the confines of a very, very strong deal with China.
Australian seaweed farm tackles burps to help climate
It is barely visible, and needs no irrigation or fertilisers: lying off the coast of Australia is a vast seaweed crop destined to curb livestock's climate-altering flatulence and belches. "Seventy-one percent of the Earth's surface is surrounded by the ocean, and seaweed require zero inputs: No irrigation, no fertiliser, no pesticides.
'Panic and paralysis': US firms fret despite China tariff reprieve
President Donald Trump's rollercoaster tariff row with Beijing has wreaked havoc on US companies that rely on Chinese manufacturing, with a temporary de-escalation only expected to partially calm the storm, analysts and business owners say.
Republicans eye key votes on Trump tax cuts mega-bill
Republicans geared up Tuesday for a series of crucial votes on Donald Trump's domestic policy mega-bill, with rows over spending threatening to unravel the US president's plans for sweeping tax cuts. On the tax front, House Republicans released a nearly 390-page bill Monday detailing where they want to raise revenues to cover Trump's promised extension of the expiring 2017 tax cuts.
US reverses Biden-era export controls on advanced AI chips
The United States rescinded further export controls Tuesday on advanced computing semiconductors, answering calls by countries that said they were being shut out from crucial technology needed to develop artificial intelligence. Some US lawmakers feared the cap would have incentivized countries to go to China for AI chips, spurring the superpower's development of state-of-the-art technology.
Dutch climate group launches new case against Shell
Dutch environmental group Milieudefensie said Tuesday it was launching a new legal case against Shell, aiming to stop the fossil fuel giant investing in new oil and gas fields. In a letter to Shell, Milieudefensie accused the company of being "in breach of its legal duty of care under Dutch law due to its continued investment in new oil and gas fields."
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