European stock markets forged ahead Friday on welcome news from the US that its economic recovery was finally producing strong jobs growth. \nThe British FTSE 100 index gained 1.24 percent to 4,465.6 points, the German DAX 30 rose 2.11 percent to 4,007.60 points and the French CAC 40 climbed 1.91 percent to 3,739.91 points. \nThe DJ Euro Stoxx 50 index of leading eurozone shares advanced 2.32 percent to 2,885.08 points. \nThe euro stood at US$1.2127. \nIn Paris export-oriented firms were among those posting strong gains as the euro fell against the US dollar, brightening hopes for increased sales abroad. \nAerospace group EADS soared 3.41 percent to 18.50 euros and the electronics company Thomson gained 3.10 percent to 15.94 euros. \nThe price of shares in troubled French computer group Bull surged by 11.9 percent to 0.94 euros when trading in the stock was resumed following the publication of results and the death of its chairman. \nThe death of Pierre Bonelli was announced on Thursday. Trading in the stock had been suspended for a day early on Wednesday before publication of the results. \nBull reported net 2003 earnings of 4.1 million euros (US$5.1 million) after a loss in 2002 of 548 million euros. \nReuters shares gained 2.25 percent to 409 pence in London despite the company saying it saw its share of the global financial information market decline by two percentage points to 37 percent in terms of revenue last year. \nReuters also reported a unspecified gain in the "premium" market to 28 percent by revenue. \nIn Frankfurt, Deutsche Bank shares added 2.25 percent to 70.74 euros on a broker upgrade from Smith Barney, while HypoVerinsbank gained 2.62 percent to 16.85 euros. \nLloyds TSB was up 1.5 percent to £4.2225 in London. \nIn Amsterdam, the AEX index gained 2.35 percent to 350.52, the Swiss SMI was up 1.19 percent at 5,784.6, in Milan the Mib 30 advanced 1.66 percent to 28,023, in Madrid the Ibex-35 closed 1.91 percent higher at 8,252.3 and in Brussels the Bel-20 finished the day with a gain of 1.18 percent at 2,441.08.
SELF-SUFFICIENCY: Alibaba is one of a number of Chinese firms that has answered Beijing’s call to invest in the development of cutting-edge technologies Alibaba Group Holding Ltd (阿里巴巴) yesterday unveiled a new server chip that is based on advanced 5-nanometer technology, marking a milestone in China’s pursuit of semiconductor self-sufficiency. The Chinese tech giant’s newest chip is based on micro-architecture provided by the SoftBank Group Corp-owned Arm Ltd, it said. Alibaba, which is holding its annual cloud summit in Hangzhou, China, said that the chip is to be used in its own data centers in the “near future” and would not, for the time being, be sold commercially. “Customizing our own server chips is consistent with our ongoing efforts toward boosting our computing capabilities with better
‘SHORT-TERM ECONOMIC PAIN’: A military takeover would only temporarily weigh on wafer production on both sides of the Taiwan Strait, IC Insights said Taiwan has more chip manufacturing capacity than any other economy in the world, US-based market information advisory firm IC Insights said in a research paper last week, cautioning that the nation’s strength could prompt China to attempt to take over Taiwan. Taiwan commanded 21.4 percent of global installed IC capacity, ahead of South Korea’s 20.4 percent, Japan’s 15.8 percent and China’s 15.3 percent, North America’s 12.6 percent and Europe’s 5.7 percent, IC Insights said. Taiwan is one of two countries that uses 10-nanometer technology or better to produce wafers, holding 62.8 percent of global capacity, with South Korea holding the remaining 37.2
AGGRESSIVE STEP: With the new processors, Apple is aiming at the high-end chips Intel has provided for the MacBook Pro and other top-end Macs for about 15 years Apple Inc on Monday took the most aggressive step yet to strip Intel Corp chips from its computers, announcing more powerful homegrown Mac processors alongside a total revamp of its MacBook Pro laptop computers. The company showcased the chips at an event called “Unleashed,” which also included its latest audio products. The new components, called the M1 Pro and M1 Max chips, are 70 percent faster than its M1 predecessors, Apple said. It also unveiled a redesigned MacBook Pro, adding larger screens, MagSafe charging and better resolution. With the new processors and devices, Apple is aiming squarely at the high-end chips that Intel has
PRICE SPREAD: Oil trading under the Brent futures contract is giving the US a hefty edge in pricing, increasing the rush to secure cheap fuel as winter approaches Asian demand for US oil is rising as the energy crisis boosts prices for other crudes that are priced against the global Brent futures contract. China and other Asian buyers have been snapping up supertankers of US oil for delivery next month and seeking more for December, some traders have said. Most buyers are seeking US grades that had recently slumped to the lowest levels in more than a year, with an added incentive after Beijing awarded millions of tonnes of crude oil import quotas. A wide spread between Brent and West Texas Intermediate (WTI) oil futures is accommodating higher US crude