CHIPMAKERS
Intel makes 10nm progress
Intel Corp shares on Tuesday jumped the most since March after a research report stoked optimism about its delayed next-generation manufacturing technology and sent rival Advanced Micro Devices Inc tumbling. A ramp up of Intel’s 10-nanometer (nm) production could begin as soon as April next year, four to six weeks earlier than current projections, BlueFin Research Partners, a boutique research firm based in Boston, Massachusetts, said in a research note. Intel gained as much as 5.2 percent while rival AMD fell 8.6 percent. Intel is making “significant strides” toward its 10nm yield target prompting informal discussions with several suppliers about the possibility that the ramp could begin before June, BlueFin said. Intel’s 10nm production has been hampered by delays as the Santa Clara, California-based company struggles to shift to the more advanced manufacturing technique. That has fueled optimism that AMD could take share in the market for central processing units used in personal computers and servers that has been dominated by Intel.
RETAIL
Walmart buying Eloquii
Walmart on Tuesday said it is acquiring an online plus-size fashion brand called Eloquii Design Inc, extending its buying spree of niche brands as it tries to compete better with online leader Amazon.com. Walmart declined to disclose the purchase price, but says the move will help it get a foothold into the US$21 billion plus-size women’s clothing arena. Eloquii also operates five retail stores. It says its executive team, including CEO Mariah Chase, and its 100 employees would continue to be based in Long Island City, New York, and Columbus, Ohio.
UNITED KINGDOM
Economic growth on track
Growth in the nation’s dominant service sector was strong enough to keep the economy on track for a “robust” expansion in the third quarter. IHS Markit said its Purchasing Managers’ Index for the industry slipped to 53.9 last month, down from 54.3 in August and just below economists’ forecasts for a reading of 54. Job creation climbed to a seven-month high, though optimism remained subdued in the face of political uncertainty. Taken with previous surveys for the manufacturing and construction sectors, the performance was enough to leave the nation on course for growth of just under 0.4 percent in the third quarter, Markit said. That is the same pace as the three months through June and about the level that Bank of England policymakers estimate is the economy’s potential. The report also showed a sharp rise in input costs, which may help back up the arguments of central bank officials who have said that limited and gradual interest rate increases are needed to control inflation.
HOSPITALITY
Belmond attracts interest
Belmond Ltd, which owns luxury hotels around the world and New York City’s iconic 21 Club, has attracted interest from potential buyers, according to people familiar with the matter. KSL Capital Partners LLC, Blackstone Group LP, KKR & Co, Ashkenazy Acquisition Corp, Hyatt Hotels Corp and Hilton Worldwide Holdings Inc are among parties weighing an offer for all or part of the company, some of the people said. Belmond, with a market value of US$1.8 billion, in August said that it was working with Goldman Sachs Group Inc and JPMorgan Chase & Co to evaluate a sale. Belmond also owns train lines, river cruises and safaris.
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
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
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