SEMICONDUCTORS
Intel Q2 tops estimates
Intel Corp, the world’s second-biggest semiconductor maker, reported second-quarter results that topped analysts’ estimates on most measures and raised its full-year outlook. However, the stock slipped as some analysts saw signs that growth might slow at the end of the year. Net income rose to US$5.01 billion, or US$1.05 per share, in the second quarter ended June 30 from US$2.81 billion, or US$0.58 per share, a year earlier. Net revenue rose 14.9 percent to US$16.96 billion. For the current quarter, revenue would be about US$18.1 billion, plus or minus US$500 million, the company said on Thursday. That compares with an average analyst estimate of US$17.6 billion, though it fell short of some of the most bullish projections. For the full year, Intel increased its revenue target to a record US$69.5 billion.
RESTAURANTS
Starbucks China sales slip
Starbucks Corp on Thursday said that a key sales figure in the US rose only modestly last quarter, as it struggles to find drinks other than the Frappuccino to attract customers. The coffee chain said sales grew 1 percent at established US locations. However, in China, the key sales figure declined 2 percent due to competition. For the quarter, the company reported a net income of US$852.5 million.
ENTERTAINMENT
Disney joins straw ban
Walt Disney Co will eliminate single-use plastic straws and stirrers at all of its owned and operated locations by next year. The move would amount to a reduction of more than 175 million straws and 13 million plastic stirrers, the world’s largest entertainment company said on Thursday. Earlier this month, Starbucks Corp, which has plastic straws and stirrers in more than 28,000 coffee shops globally, said it would eliminate their use by 2020.
AUTOMAKERS
Renault net profit plummets
French auto giant Renault SA yesterday said its net profit shrank by nearly a fifth in the first half of the year, as a result of a lower contribution from strategic partner Nissan Motor Co. Earnings in the first six months of the year dropped 18.6 percent to just under 2 billion euros (US$2.3 billion), it said in a statement. Operating margin during the period increased to a record 6.4 percent of sales, the statement said.
GAMING
Improbable gains financing
Improbable Worlds Ltd, a London-based virtual reality start-up, has netted new financing from Chinese gaming giant NetEase Inc (網易科技), in a bid to export its technology to China’s booming video game market. NetEase said it is investing US$50 million into Improbable. The Beijing-based company is also buying a similar amount of stock from shareholders, according to a person familiar with the matter.
TRADE
Brazil asks end to surtax
Brazilian President Michel Temer has asked Chinese President Xi Jinping (習近平) to eliminate Chinese surtaxes on imports of Brazilian sugar and chicken. The two leaders are in Johannesburg attending the annual summit of the group of BRICS emerging economies. At a Thursday press conference Temer said he asked Xi to end the surtaxes so that Brazil could increase its exports. He added that Xi said he would study the possibility of allowing Brazil to also export soybean oil and meal.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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