TSMC cuts investment in 2023 after record fourth quarter as chip demand weakens

TSMC cuts investment in 2023 after record fourth quarter as chip demand weakens

Q4 profit of T$295.9 billion vs. T$289.44 billion, analysts say Fourth-quarter revenue up 26.7% year-on-year to $19.93 billion Sees 2023 investments at $32-36 billion from $36.3 billion the previous year The company plans to increase its production abroad TAIPEI, Jan 12 (Reuters) – Taiwanese chipmaker TSMC (2330.TW) warned on Thursday that first-quarter revenue would fall … Read more

The Swedish LKAB discovers the largest deposit of rare earth metals in Europe

The Swedish LKAB discovers the largest deposit of rare earth metals in Europe

LKAB identifies more than 1 million tons of resources The company will apply for a concession to develop the site Exploitation of the deposit still visible in 10 to 15 years Could eventually reduce EU dependence on imports KIRUNA, Sweden/STOCKHOLM, Jan 12 (Reuters) – Sweden’s state-owned mining company LKAB said on Thursday it had identified … Read more

Bed Bath & Beyond surges for day three of meme stock rally

Bed Bath & Beyond surges for day three of meme stock rally

Jan 11 (Reuters) – Shares of Bed Bath & Beyond (BBBY.O) surged on Wednesday as individual investors crowded in, extending the stock’s rebound from the multi-decade lows hit last week and reigniting a rally in other meme actions. Among the top three companies listed on Fidelity’s retail platform, Bed Bath & Beyond jumped 69% during … Read more