Manufacturing Financial News

gold closed with a gain of 0.27% at $2338 Friday. However, the metal posted its first weekly decline in six on inflation concerns as the US inflation data remained elevated. The metal fell 2.20% on the weekly closing basis. The ten-year US yields at 4.67% were around 1% lower Friday; however, yields were up nearly 1% to finish the week higher, whereas the 2-year US yields at 4.99% were up nearly one bps on the week, but down nearly one bps Friday.

Amazon reporting results will keep investors' focus in the days ahead on the global rates outlook and on tech earnings, while growth and inflation data from Europe and China are also coming out.

Huawei Technologies Co's latest smartphones carry a version of the advanced made-in-China processor it revealed last year, independent analysis revealed, underscoring the Chinese company's ability to sustain production of the controversial chip. The Pura 70 series Huawei unveiled last week sports the Kirin 9010 processor, consultancy TechInsights found in a teardown of the device. That's a newer version of the Kirin 9000s made by Semiconductor Manufacturing International Corp. for the Mate 60 Pro, which alarmed officials in Washington who thought a 7-nanometer chip beyond China's capabilities.

Supreme Court's decision on Friday rejecting pleas seeking complete cross-verification of votes cast using EVMs with a Voter Verifiable Paper Audit Trail (VVPAT) has brought the focus back on the paper trail machines. To enhance transparency and verifiability in the poll process, the Conduct of Election Rules, 1961 were amended in 2013 to introduce the use of VVPAT machines. They were first used in the by-election to the Noksen assembly seat in Nagaland. At least one ballot unit, one control unit and one VVPAT make up for an EVM. The tentative cost of an EVM comprised Rs 7,900 per ballot unit, Rs 9,800 per control unit and Rs 16,000 per VVPAT.

President Joe Biden has arrived in New York state to celebrate a tech company’s plans to build a campus of computer chip factories made possible in part with government support

Mint that the country will be a production and export hub for both brands. HMD will start introducing its own brand of devices – smartphones, feature phones, tablets, wearables and hearables – in the coming quarters, while continuing to introduce Nokia smartphones and feature phones across markets, Kunwar added. “We’re looking at India as a sourcing hub and supply-chain hub.

Aussiebum, Australian brand of men's swimwear, underwear, and clothing plans to establish its own manufacturing unit in India to produce for domestic and global markets, Sean Ashby founder and CEO of the company told ET. The brand aim to capture 3-5% share of the innerwear market in India by 2026 and has already started selling online. “This localized production will create employment opportunities while enabling aussieBum to seamlessly blend Indian talent and resources into its design and innovation process,” said Ashby.

‘Vague & baseless…’: SC rejects pleas for 100% EVM-VVPAT verification Bhushan on the X platform added, "We had asked the SC to either: Go back to paper ballots, or Give VVPAT slip to the voter to put in a ballot box & then count VVPAT slips, or keep the light on in the VVPAT machine & count all the slips. Today only 2% of VVPAT slips are matched with EVM. SC today rejected our demands".

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By 2028, a Honda manufacturing plant in Alliston, Ont., should be ready to pump out 240,000 electric vehicles (EVs) every single year.

Tesla Inc. co-founder JB Straubel wasn’t content with simply reinventing the automobile for the 21st century. He left in 2019 feeling he needed to redesign the global supply chain for the electrified future, too. That’s exactly what he’s been doing for the last five years. The company he built, Redwood Materials, is now the largest battery recycler in North America, and it’s using those recycled materials to manufacture complex battery components that have traditionally been imported from abroad, largely from China. Straubel recently opened the doors for a first peek at the 300-acre industrial campus he’s built in the western Nevada desert. He said it hasn’t been easy.

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data center and PC chips and trails in the surging market for AI components. Businesses have prioritized spending on advanced and speedy artificial intelligence server chips, hurting demand for Intel's central processing units (CPUs), which have been the mainstay chip powering data centers for decades.

Tata Electronics is now working to internally develop «very sophisticated» and complex high-precision machines used to produce the casing of these iPhone, sources told ET. The company has tied up with two Indian manufacturers to develop capabilities for it and plans to also export these complex machines in the future. So far, the Tatas imported these from China.

financial services — in employing women in key managerial personnel (KMP) roles across the top 200 BSE-listed companies. While female KMPs in the financial services sector were all professional leaders, in pharma, they were promoters, according to data from FY23 collated for ET by executive search firm EMA Partners India. However, Indian companies continue to struggle to have a better gender balance when it comes to KMPs. According to the Companies Act, KMPs are the CEOs or managing directors, chief financial officers, company secretaries and wholetime directors.

President Joe Biden on Thursday sought to sell voters on an American “comeback story" as he highlighted longterm investments in the economy in upstate New York to celebrate Micron Technology's plans to build a campus of computer chip factories made possible in part with government support. Staring down a rematch with Republican Donald Trump, Biden was asking voters to buy into his vision of the future, at a moment when voters are most worried about enduring pressures from high inflation. The initial phase of New York project would open the first plant in 2028 and the second plant in 2029, with more time expected for the next two factories to be completed.

NPPA) expert committee is studying the existing price regulations prevalent in other countries to come out with a «unique» pricing mechanism for manufacturers of medical devices in India, people in the know told ET. At present there is no separate pricing framework followed for medical devices. The government has been using the same framework which was created for drugs in case they want to regulate the price of any medical device. Earlier, it had regulated the prices of stents and knee implants under the Drug Price Control Order. The NPPA along with officials in the department of pharmaceuticals (DoP), India's drug regulatory authority, and others have been deliberating on the issue and studying the pricing framework followed by other countries.

economic performance" continues to be backed by resilient growth, robust economic activity indicators, price stability and steady external sector performance, the finance ministry said Thursday. However, geopolitical tensions such as those roiling West Asia, remain a concern although risk perceptions over them have softened, offering a potential upside for growth, the ministry said in its monthly economic report for March. The global economic landscape is seeing a gradual resurgence, with fading fears of recession and rebounding growth in major economies, it said. But regional disparities in terms of the pace of growth still exist. India continues to exhibit a robust economic performance, despite global uncertainties, due to factors such as strong domestic demand, robust investment and sustained manufacturing momentum, the ministry said.

Japanese automaker Honda is putting $15 billion into their Ontario operations with a new electric vehicle manufacturing plant in Alliston, Ont. with a joint $5 billion coming from the federal and Ontario governments.

Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles

The Connecticut Senate has passed one of the first major legislative proposals in the U.S. to rein in bias in artificial intelligence decision-making and protect people from harm

Mumbai Indians, and he is the one who can make you win. There is no point booing your player. You can criticize a little bit, but move on," Wasim Akram told news platform Sportskeeda. Wasim Akram also spoke about Chennai Super Kings, who changed their captain ahead of IPL 2024, and the young Ruturaj Gaikwad replaced the legend MS Dhoni smoothly.