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Samsung Building its 6th Domestic Chip Factory

Leading South Korea based producer of multiple consumer electronics Samsung Electronics Co. (KRX: 005930) has made public its upcoming project to build a sixth domestic contract chip production line. The new plant will largely specialize in manufacturing logic chips for computers and mobile phones. Samsung says the upcoming project is in line with its plan […]

Alibaba Investing $1 billion in Smart Speakers

Chinese based e-commerce giant Alibaba Group Holding (BABA) announced it will be pumping a $1 billion (10 Billion Yuan) investment into an artificial intelligence (AI) and Internet of Things (IoT) revolving around its Tmall Genie smart speaker. For some time now Alibaba has been giving special attention to new technologies and other business ventures apart […]

Lenovo Soar Above Analysts’ Estimates in Quarter Reports

Hong Kong PC maker Lenovo Group Limited (HKG: 0992) has posted its results for the quarter ending March 31, the company registered declining sales and profits due to the pandemic but it largely performed better than what analysts had estimated. Net profit for the company’s fourth quarter slumped by 64% to $43 million but it […]

Ryanair Trims Passenger Traffic Target For the Year

Dublin based airline Ryanair Holdings Plc. (LON: RYA) announced trimming down its passenger traffic target for the year by an additional 20% citing global traveling volume distortion caused by coronavirus pandemic. Ryanair further said it’s deliberating on pulling out of some airports across Europe as effects of the pandemic are hitting the airline industry hard. […]

Coronavirus Pandemic Pushes Intelsat into Bankruptcy

Luxembourg based satellite company Intelsat Corp SA. (I) announced that it had filed for chapter 11 bankruptcy earlier in the week. The tech company says coronavirus pandemic is the main reason it decided to seek bankruptcy protection. The bankruptcy was filed in the U.S. Bankruptcy Court for the Eastern District of Virginia. Under the filling, […]

Nissan to Trim Financial Guidance by $2.8 Billion in Restructuring Plans

Japan based automaker Nissan Motor Co (7201) is looking forward on holding meeting to restructure financial guidance of the company for the year citing unavoidable disruptions caused by coronavirus pandemic which has resulted to reduced demand due to restricted movement of individuals. This information was first published on Bloomberg News indicating Nissan is planning to […]

Shanghai Disneyland Reopens Without Much Pomp

Following a three months closure period after global breakout of deadly coronavirus finally Disneyland lovers in China have a reason to smile since Walt Disney Co. (DIS) reopened doors Shanghai Disneyland to the public once again. Despite that the re-opening was less popped and without much fuss thousands of visitors found their way into Shanghai Disneyland […]

Columbia Removes Contact Tracing Feature from Official App

Columbia has dropped the contact tracing feature from its official app used to inform country’s residents about developments on coronavirus pandemic. The country says main reason behind the move is technical hitches in the contact tracing feature. Government officials told reporters that they will be engaging tech firms Apple Inc. (AAPL) and Alphabet Inc’s. (GOOGL) […]