TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker, posted its highest first-quarter revenue ever on strong demand for artificial intelligence products but said it would need to closely watch global politics. Revenue for Apple’s biggest iPhone assembler jumped 24.2% year-on-year to T$1.64 trillion ($49.5 billion), Foxconn said in a statement on Saturday, just…
By Ana Mano SAO PAULO (Reuters) – Indigenous protests and poor roads have disrupted shipping of Brazil’s bumper soybean crop in recent days via the river port of Miritituba in the Amazon rainforest, worrying global companies including Cargill and Bunge which have important operations. Abiove, an association representing grain handlers, said on Friday road access…
JOHANNESBURG (Reuters) – Audio streaming giant Spotify’s royalty payments to artists from Nigeria and South Africa – its two biggest African markets – spiked to around $59 million last year as performers rode a wave of growing interest in music from the continent. The Swedish company paid out some $10 billion in royalties worldwide in…
(Reuters) – U.S. tech heavyweights, banks and oil majors extended losses on Friday after Beijing retaliated with additional duties of 34% on U.S. goods, amplifying investor concerns over an escalating global trade war that has stoked fears of a recession. Beijing’s tariffs are set to go into effect April 10. The country also announced controls…
BRUSSELS (Reuters) – Striking a trade deal with Latin America’s Mercosur bloc would be a “massive opportunity” for the European Union given uncertainties triggered by U.S. President Donald Trump’s decision to introduce a new round of tariffs, an EU spokesperson said on Friday. “We will be investing a lot of time and energy with member…
By Krystal Hu SandboxAQ, a startup drawing on quantum computing techniques to develop quantitative artificial intelligence models for enterprises, said it has raised $150 million from new investors including Google, Nvidia and BNP Paribas. The investment has increased SandboxAQ’s Series E round to $450 million, valuing the startup at $5.75 billion. With this, SandboxAQ’s total…
By Kalea Hall, David Shepardson DETROIT (Reuters) -Stellantis NV <STLAM.MI> said on Thursday it was temporarily laying off 900 workers at five U.S. facilities after President Donald Trump’s tariffs were announced, and temporarily pausing production at an assembly plant in Mexico and one in Canada. The maker of Ram trucks and Jeeps said the U.S….
By Hannah Lang (Reuters) – Some influential cryptocurrency executives are making a last-minute pitch to Congress to allow interest to be paid on U.S. dollar-pegged tokens as part of popular legislation establishing a regulatory framework for stablecoins. That lobbying effort has been met with mixed reactions from lawmakers, and has also raised concerns from financial…
(Reuters) – U.S. President Donald Trump’s 25% tariff on auto imports may cost American consumers more than $30 billion in higher vehicle prices and reduced car sales in the first full year, consultancy firm Anderson Economic Group said in a report on Thursday. WHY IT’S IMPORTANT Manufacturers are expected to bear some of the tariff…
(Reuters) – AI video startup Runway said on Thursday it had raised $308 million in a new funding round, led by private equity firm General Atlantic, to expand its new media ecosystem. The latest funding round valued the New York-based company at over $3 billion, Bloomberg reported, citing people familiar with the matter. Runway, however,…
