Technology

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. …

BLOOMBERG Twitter Inc has ceased to be an independent company after merging with a newly formed shell firm called X Corp, driving speculation about what Elon Musk intends for the social media platform. Twitter “no longer exists” after being merged with X Corp, according to a document submitted in a California court for a lawsuit filed against the company and …

BLOOMBERG South Korea fined Alphabet Inc’s Google 42.1 billion won ($32 million) for using its clout in the mobile app market to squeeze out a local rival, the latest sign of intensifying scrutiny on the US tech firm as it seeks to expand overseas. Google tried to block Korean platform rival One Store Co’s growth, Korea’s Fair Trade Commission said …

BLOOMBERG Apple Inc Chief Executive Officer Tim Cook has scheduled a trip to open the iPhonemaker’s first stores in India next week, underscoring the company’s ambitions for the country as a growth market and manufacturing base. Cook is likely to preside over the opening of the twin outlets in India’s financial and political capital, people familiar with the matter said, …

BLOOMBERG SenseTime Group Inc showed off a suite of new artificial-intelligence (AI) services developed with the company’s access to vast troves of data and deep computing power, including the latest Chinese challenger to AI phenom ChatGPT. Chief Executive Officer Xu Li took the stage to demonstrate the large AI model SenseNova and a user-facing chatbot called SenseChat. Xu, with help …

BLOOMBERG Samsung Electronics Co is heading for its lowest profit since the global financial crisis, if not longer, due to a sharp slowdown in tech demand that triggered losses at its semiconductor division. The South Korean chipmaker, which reports preliminary results for the March quarter, is expected to say operating profit plummeted about 90% to 1.45 trillion won ($1.1 billion), …

BLOOMBERG Apple Inc’s slowing growth and cash-rich balance sheet are again fuelling speculation that the world’s most valuable company should make a big acquisition. Entertainment giant Walt Disney Co joined a long list of potential acquisition targets that over the years has grown to include Netflix Inc, Tesla Inc, Peloton Interactive Inc. and Sonos Inc. They all have one thing …