Now its time for World Business report. Hit by the eu profits fall at googles Parent Company alphabet, after a huge fine levvied by the european union. And bitcoin whats it for . Well, now you can use the cryptocurrency to pay for art. All will be explained. Welcome to World Business report. Im rachel horne. In a minute sharanjit will tell us how sk hynix increased its profits by more than 500 . Three of the worlds most valuable Internet Firms release their latest numbers this week. The biggest by far is googles alphabet, which has just reported a 21 jump in revenues. That was better than expected but there was less cheer on the when it came to earnings. Net profit fell 27. 7 to 3. 5 billion. Hitting the bottom line was a 2. 7 billion fine issued by the European Commission injune. It ruled the firm abused its power by promoting its own shopping Comparison Service in its search results. Google says it may appeal. But, alphabets shareprice fell 3 in after hours trading. But take a look a
Nvidia s market value surpasses $2 trillion as AI chip demand skyrockets. It leads S&P 500, plays a vital role in the tech revolution. Shares surge, adding over $230 billion to market cap. China imposes chip sales restrictions. Analysts earnings estimates increase.
Indian Prime Minister, Narendra Modi, has invited global semiconductors majors to invest in India, promoting the country as a trustworthy production partner in the supply chain. Speaking at an event aimed at bringing together leaders from industry, academia, and research institutions, PM Modi urged investors to help India develop its chip-making ecosystem for Indians. The event showcased India s semiconductor strategy and policy, which seeks to transform India into a global hub for semiconductor design, manufacturing, and technology development. Major companies such as Micron Technology, Applied Materials, Foxconn, SEMI, and AMD were represented.
In an interview, Forrest Norrod, executive vice-president and general manager, data center solutions at AMD, spoke about the impact of the global tech downturn, the potential for 5G and AR to fuel growth, and how the company plans to expand its India team.
Guad venegas has more. after one month of the covid shanghai lockdown, residents are fed up. in desperation. as people run out of food and medicine. 25 million people confined to their homes. manufacturing grinding to a halt. with little moving in and out of the largest container port in the world. any business that produces physical goods is being disrupted by what s happening in china. and growing fears it could have a ripple effect on the global supply chain. businesses around the world bracing for shortages with automotive and electronic suppliers already feeling the effects. tesla s giga factory shut down. apple s chip supplier, opened at 60% capacity. around the country, 45 chinese cities under lockdown, 40% of the world s second largest economy.