Pelosi’s Taiwan trip puts the world’s biggest chipmaker back in the spotlight of U.S.-China rivalry
Semiconductors have become a key part of the rivalry between the U.S. and China with TSMC, which dominates chipmaking, caught in the middle.
Financial News
U.S. House Speaker Nancy Pelosi meets Taiwan’s president despite China’s warnings
U.S. House Speaker Nancy Pelosi met Taiwan President Tsai Ing-wen on Wednesday in a high-stakes visit that has infuriated Beijing.
China shares down, Asia markets drop as geopolitical tensions rise over Pelosi visit
Local media reports citing unnamed sources said Pelosi would go ahead with her visit to Taiwan, a self-ruled island that China sees as a runaway province.
Chinese companies flock to Switzerland to raise money with new stock listings
Chinese companies looking to raise cash overseas have turned to Switzerland — and gotten speedy regulator approval to do so, according to Baker McKenzie.
Biden tests positive for Covid again, will restart isolation despite no new symptoms
Biden is experiencing no new symptoms and “continues to feel quite well,” Dr. Kevin O’Connor said in a memo shared by the White House.
AMD passes Intel in market cap
The milestone also suggests that investors may value an asset-light chipmaker over one that’s investing heavily in manufacturing.
A toxic culture and ‘race to the bottom’: Pilots open up on why air travel is in chaos
Airlines are vocally laying the blame on airports and governments, but some working within the industry say airlines, too, failed to prepare.
Barclays posts profit slump after hit from costly trading error in the U.S.
Barclays took charges of £1.9 billion for the first half, including £1.3 billion related to its trading blunder in the U.S.
Putin’s new gas squeeze condemns Europe to recession and a hard winter of rationing
Ukraine’s President Volodymyr Zelenskyy said the move was tantamount to a “gas war.”
UBS misses expectations; CEO cites one of the ‘most challenging’ quarters for investors in a decade
UBS posted net profit attributable to shareholders of $2.108 billion, below analyst expectations aggregated by the Swiss bank.