Entrepreneur caught in the middle of the US-China Chip War

Entrepreneur caught in the middle of the US-China Chip War

Semiconductor whizz Gerald Yin left the United States and spent 18 years in China building what he said would be a worldwide powerhouse in chipmaking equipment. Now the American citizen’s life’s work has been thrown into limbo as US restrictions undermine the global industrial integration he celebrated. Mr. Yin’s company, Advanced Micro-Fabrication Equipment Inc., or … Read more

FTX’s FTT token drops 80%, wiping out over $2 billion in value

FTX’s FTT token drops 80%, wiping out over $2 billion in value

FTT, the token native to crypto exchange FTX, lost most of its value after rival Binance, the world’s largest cryptocurrency firm, announced plans to buy the company. The coin traded at around $22 on Monday and dipped below $5 on Tuesday afternoon in New York. The selloff wiped out more than $2 billion in value … Read more

Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international e-commerce platform AliExpress has expanded in South Korea and Brazil, in addition to Europe. Pictured here is an AliExpress locker in Poland in July 2022. Nurphoto | Nurphoto | Getty Images BEIJING — Ali Baba‘s international e-commerce company AliExpress is spending the equivalent of $7 million to reach consumers in South Korea, the … Read more

Microsoft faces a new antitrust complaint in Europe

Microsoft faces a new antitrust complaint in Europe

BRUSSELS— Microsoft Corp. faces an antitrust complaint from a European industry group over its cloud services, adding to the latest allegations of anti-competitive behavior against the US tech company. Cloud Infrastructure Service Providers in Europe, or Cispe, a trade group that includes Amazon.com Inc. among its members, said it filed the complaint with the bloc’s … Read more

Disney’s earnings are hurt by costs at Disney+

Disney’s earnings are hurt by costs at Disney+

The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more

Analysts love these stocks, which could gain after a GOP midterm victory

Analysts love these stocks, which could gain after a GOP midterm victory

With midterm elections underway, investors are waiting to see if and how the results could weigh on stocks — and which names will outperform. The market expects Republicans to at least gain control of the House, rising for a third straight day on Tuesday. RBC’s head of US equity strategy, Lori Calvasina, believes there could … Read more

Disney’s weak revenue and profits eclipse the growth of streaming subscribers

Disney’s weak revenue and profits eclipse the growth of streaming subscribers

The home screen of the Disney+ Marvel website on a laptop in the Brooklyn borough of New York, United States, on Monday, July 18, 2022. Gabby Jones | Bloomberg | Getty Images The biggest media and entertainment companies are asking investors to focus on revenue and profits instead of streaming subscriber growth – a message … Read more

Cher reminds ‘haters’ that she can hold hands with whoever she wants

Cher reminds ‘haters’ that she can hold hands with whoever she wants

CNN — Twitter might not be old enough to remember that Cher does whatever she wants. The icon, who is 76, was recently photographed holding hands with rapper and music executive Alexander “AE” Edwards, 36, in West Hollywood. People on social media had questions, and Cher had plenty of answers. The singer replied with a … Read more

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sold nearly $4 billion in Tesla Inc. TSLA -2.93% stock after buying Twitter Inc. for 44 billion Mr. Musk sold 19.5 million shares in Tesla 4.-8. Nov., according to regulatory disclosures released Tuesday. Tesla’s CEO, who has become the world’s richest person thanks in large part to his stake in the car company, … Read more

Private-equity giants are the latest targets of the SEC’s record-breaking probes

Private-equity giants are the latest targets of the SEC’s record-breaking probes

WASHINGTON—Wall Street’s private equity giants are the latest companies to face regulatory probes into dealmakers’ use of prohibited communications channels. Apollo Global Management Inc., KKR KKR 0.23% & Co. Inc., and Carlyle CG -7.69% Group Inc. revealed on Tuesday that it is facing investigations into whether its employees used messaging apps such as WhatsApp to … Read more