Technology

BLOOMBERG  Intel Corp shares jumped after the embattled chipmaker promised a recovery in the second half, leading investors to look past a disappointing profit-margin forecast in the current quarter. The company predicted that gross margins — a closely watched measure — would begin to widen again in the back half of 2023. Intel is returning to full manufacturing capacity, and ...

BLOOMBERG A new electric hatchback starting from just 78,800 yuan ($11,450) from BYD Co is set to intensify competition in China’s already crowded entry-level car market. Unveiled at the Shanghai auto show, the Seagull drew big crowds with its neon yellow exterior and budget price tag. The 55kW motor provides around 190 miles (300 kilometres) of charge at a top ...

BLOOMBERG The pay package awarded to Alphabet Inc Chief Executive Officer Sundar Pichai soared to $226 million in 2022, boosted by a triennial stock grant, making him one of the world’s highest-paid corporate leaders. The stock award portion of his pay amounted to $218 million, according to a filing from the Google parent company. He received a total of $6.3 ...

BLOOMBERG Chief Executive Officer Tim Cook officially opened Apple Inc’s first company-owned store in India, betting the iPhonemaker’s retail outlets will help accelerate sales growth. Cook, dressed in gray pants, blue half-sleeve shirt and sneakers, hugged the first customers and posed for selfies with them at the shop’s launch in the financial hub of Mumbai. Dozens of staff dressed in ...

BLOOMBERG Apple Inc’s sales in India hit a new high of almost $6 billion in the year through March, highlighting the market’s increasing importance for the iPhone maker as Chief Executive Officer Tim Cook arrived in the country to open its first local stores. Revenue in India grew by nearly 50%, from $4.1 billion a year earlier, according to a ...

BLOOMBERG Alphabet was headed for its biggest single-day decline in more than two months following a report that Samsung Electronics is considering replacing Google with Microsoft’s Bing as the default search engine on its devices. Suwon, South Korea-based Samsung, the world’s leading smartphone maker, is considering making the switch, the New York Times reported, estimating that roughly $3 billion in ...

BLOOMBERG Infosys Ltd nosedived 15%, the biggest intraday slump since October 2019, after the company’s guidance painted a negative outlook for India’s technology sector following turmoil at US and European banks. The IT services firm was hit by a wave of downgrades after saying sales growth will be just 4% to 7% this financial year because of a reduction in ...

BLOOMBERG Netflix Inc is working to bring its nascent video-game service to television sets for the first time, moving beyond smartphones and tablets in a sign of its growing ambitions. Code hidden within Netflix’s app includes references to games played on the TVs, signalling that such a plan is in motion. The code also mentions using phones as video-game controllers. ...

BLOOMBERG The US is hard at work with partners and allies to streamline global supply chains for semiconductors and restore its leading edge in chip technology, according to a top official overseeing the efforts. “We don’t want a race to the bottom,” Mike Schmidt, director of the Chips Program Office, told Tracy Alloway and Joe Weisenthal on Bloomberg’s “Odd Lots” ...

BLOOMBERG Apple Inc is ramping up testing of fresh Macs with processors on par with the current M2 chip, making headway on key new machines that could help reverse a sales decline. The Mac maker has begun testing the new machines with third-party apps from the App Store to validate their compatibility, according to developer logs shared with Bloomberg News. ...