Town Hall News

SHANGHAI (Reuters) – Chinese chip maker Semiconductor Manufacturing International Corp (SMIC) on Thursday reported its first quarterly drop in revenue in more than three years, as the global chip sector struggles to work through an inventory glut. Revenue in the January-March quarter was $1.46 billion, down 20.6% year-on-year and in line with analyst estimates. Net profit fell 48.3% from a year earlier to $231.1 million. SMIC executives attributed the drop […]

SHANGHAI (Reuters) -Chinese chip maker Semiconductor Manufacturing International Corp (SMIC) on Thursday reported its first quarterly drop in revenue in more than three years, as the global chip sector struggles to work through an inventory glut. Revenue in the January-March quarter was $1.46 billion, down 20.6% year-on-year and in line with analyst estimates. Net profit fell 48.3% from a year earlier to $231.1 million. SMIC executives attributed the drop to […]

KHARTOUM (Reuters) -Sudan’s warring factions early on Friday committed to protect civilians and the movement of humanitarian aid, but did not agree to a ceasefire and remain far apart, U.S. officials said. After a week of talks in the Saudi port of Jeddah, Sudan’s army and rival paramilitary Rapid Support Forces (RSF) signed a declaration that they would work towards a short-term ceasefire in further discussions, they said. “The two […]

By David Dolan and Yimou Lee TOKYO/TAIPEI (Reuters) -Shares of Taiwan’s Foxconn and Sharp Corp, the Japanese electronics maker it holds a 34% stake in, fell on Friday after Sharp reported a surprise $1.9 billion loss on writedowns of its panel display business and other assets. Sharp’s shares slid 7.17% early on Friday to 914 yen, on track for their biggest one-day loss since February. Foxconn’s shares dropped 2.4% versus […]

By Brad Brooks (Reuters) – A federal judge in Virginia has struck down federal laws that block the sell of handguns to buyers under the age of 21, ruling they violate constitutional rights to possess firearms. The ruling, which the Justice Department is expected to challenge, will not take effect until judge Robert Payne, of the U.S. District Court for the Eastern District of Virginia, who was appointed by President […]

By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -The world’s second largest aircraft lessor, SMBC Aviation Capital, has warned that India’s decision to block leasing firms from reclaiming Go First planes will jolt the market and spark a confidence crisis, legal papers show. SMBC, along with firms such as Jackson Square Aviation and Bank of China Aviation, raised the alarm after a tribunal gave Go Airlines (India) Ltd bankruptcy […]

MANILA (Reuters) – A Philippine court on Friday acquitted former senator Leila De Lima, one of the fiercest critics of ex-President Rodrigo Duterte, of a criminal charge stemming from allegations that as a cabinet minister she received money from drug dealers. De Lima, 63, has been in detention for the past six years and despite her acquittal, De Lima will not immediately be released because of another case pending in […]

By Jarrett Renshaw and Jeff Mason WASHINGTON (Reuters) – A debt limit meeting between U.S. President Joe Biden and top lawmakers that had been scheduled for Friday has been postponed, and the leaders agreed to meet early next week, a White House spokesperson said on Thursday. Aides from both sides have started to discuss ways to limit federal spending, as talks on raising the government’s $31.4 trillion debt ceiling to […]

TOKYO/TAIPEI (Reuters) -Shares of Taiwan’s Foxconn and Sharp Corp, the Japanese electronics maker it holds a 34% stake in, fell on Friday after Sharp reported a $1.9 billion loss on write-downs of its panel display business and other assets. Sharp’s shares were down 7% early on Friday at 921 yen, on track for their biggest one-day loss since February, while Foxconn’s shares dropped 2.4%. Foxconn, the world’s largest contract electronics […]