International News

  Bloomberg The US is “not in the business” of aiding rival chip-producing countries, Ambassador to Japan Rahm Emanuel said, as the White House steps up efforts to deny China access to American technology. “It’s one thing if you’re going to have competition,” Emanuel said in an interview with Bloomberg Television. “The other thing is if you actually help the ...

Bloomberg Elon Musk, under fire for recent policy changes at Twitter Inc, is asking users whether he should step down as head of the social media site. With the poll set to end in New York, around 57% of the 16 million voters have said yes. The billionaire owner of Twitter and chief executive officer of Tesla Inc will abide ...

Bloomberg The UK is encouraging consumers to cut their energy use as part of a campaign aimed at scaling back demand for power and natural gas in the face of soaring bills this winter. Prime Minister Rishi Sunak’s government started its long-awaited public energy-saving campaign, just as the country emerges from a week of freezing temperatures that caused demand to ...

  Bloomberg Headspace Health, the maker of a popular meditation and mental-health mobile app, cut about 50 jobs, or 4% of its workforce, the latest internet startup to scale back as funding dries up and economic growth decelerates. The Santa Monica, California-based company had about 1,200 workers before eliminating the positions, a spokesperson said. Headspace competitor Calm, another meditation app, ...

  Bloomberg On the outskirts of Cape Town, at the base of Table Mountain and set back from a tangle of freeways, the Liesbeek and Black rivers meet in a small stretch of marshland. The 37-acre plot isn’t pristine — it lies next to a railyard and was until recently home to a golf course — but for centuries, this ...

  Bloomberg A subsidiary of Taiwan’s Hon Hai Precision Industry will dispose of its indirect minority stake in China’s semiconductor giant Tsinghua Unigroup, the latest sign that Beijing’s chip industry is becoming increasingly isolated from the rest of the world. Hon Hai’s China-listed Foxconn Industrial Internet will sell the shares to Yantai Haixiu IC Investment Center for not less than ...

  Bloomberg China’s economic growth will accelerate in next year as stimulus policies take effect, CCTV reported, citing a senior planning official. Existing pro-growth measures will be kept in place and more policies to boost the economy will be added, Han Wenxiu, an official at the Communist Party of China’s central financial and economic affairs commission, told a forum. So ...

  Bloomberg Investment giant Hillhouse Capital is consolidating its two Singapore locations by moving to one of the city-state’s most premier office buildings overseeing the Marina Bay skyline, according to people with knowledge of the matter. Hillhouse has signed a lease for the 28th floor of Marina Bay Financial Centre Tower 1, the people said, asking not to be identified ...

  Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) Chief Executive Officer CC Wei warned of the dangers of excessive government export controls, which can erode mutual trust between countries. “Export controls and banning products from other foreign countries destroy productivity and efficiency gained under globalisation, or at least they reduce benefits offered by a free market,” Wei said at an industry ...

  Bloomberg Japanese companies are set to raise winter bonus payments by 9.7%, the largest gain since 1975, a survey by Nikkei newspaper reported. Steel makers led all industries in bonus increases, while semiconductors saw several companies reporting record profit led by strong demand. Disco Cor, a maker of precision processing equipment, paid Â¥3.16 million, the highest level among all ...