Manufacturing Financial News

Joe Biden's administration is expected to award billions of dollars in subsidies in coming weeks to top semiconductor companies including Intel and Taiwan Semiconductor Manufacturing Co to help build new factories in the U.S., the Wall Street Journal reported on Saturday. The forthcoming announcements aim to kick-start manufacturing of advanced semiconductors that power smartphones, artificial intelligence, and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations.

HEFEI, China: Ultramodern factories churn out electric cars and solar panels in Hefei, an industrial center in the heart of central China. Broad avenues link office towers and landscaped parks. Subway lines open at a brisk pace. Yet at Hefei's market for construction materials, local merchants are gloomy. Wu Junlin, a vendor of doors, has closed two of his three stores and laid off all but one of his dozen employees.

semiconductor companies including Intel, and Taiwan Semiconductor Manufacturing Co in the coming weeks to help build new factories in the United States, the Wall Street Journal reported on Saturday. The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations.

Hero CE001 represents the company's first foray into crafting limited edition offerings for its customers. Described by the manufacturer as the "most special bike built in India," this commemorative edition is a testament to the legacy of Dr. Brijmohan Lall Munjal and the rich history of the Hero Group.

The British government has called off post-Brexit trade talks with Canada after discussions broke down over disagreements related to the import and export of beef and cheese

A scandal over an Italian influencer's Christmas-cake involvement that authorities alleged misled consumers has inspired a government crackdown

Budget 2024 Expectations LIVE Updates: As anticipation builds for the upcoming Budget 2024 in India, a diverse array of sectors eagerly await FM Nirmala Sitharaman's announcements and fiscal policies that will shape their respective landscapes. From agriculture, infrastructure, and healthcare to education, finance, and manufacturing, each sector carries its own set of expectations for allocations and reforms.

₹12,000 crore, the people cited above said on the condition of anonymity. FAME-II, which expires on 31 March 2024, doles out demand-side cash subsidies on the sale and purchase of hybrid and electric four-wheelers for commercial use if they meet certain price and performance criteria.

Intel (NASDAQ:INTC) stock experienced a more than 10% decline in premarket trade on Friday following the chipmaker's fourth-quarter earnings, which exceeded estimates but presented an outlook for the current quarter that fell below expectations.

Civil aviation minister Jyotiraditya Scindia on Friday met Airbus Global CEO Guillaume Faury and discussed collaboration opportunities for manufacturing and designing of aircraft. India is one of the key markets for Airbus, which received orders for more than 700 planes from IndiGo and Air India last year.

Standard Chartered Bank. The tribunal has also appointed Rajan Garg as its resolution professional. In this case, originally the company’s promoter had availed a loan facility from Dewan Housing Finance (DHFL).

LONDON (Reuters) — Britain's decision to suspend talks with Canada on a free trade deal creates the risk of tariffs being imposed on British-made cars sold in Canada, the UK car industry warned on Friday, as it urged the two sides to return to negotiations.

Investing.com — U.S. stock futures traded lower Friday, with sentiment hit by disappointing guidance from chip manufacturer Intel as investors awaited the release of key inflation data.

Delhi-NCR witnessed a sharp 42 per decline in demand for warehouse and industrial spaces last year on high base effect and lower new supply, according to Colliers.The gross leasing of Grade-A industrial & warehousing spaces fell to 5.1 million square feet in 2023 from 8.8 million square feet in the previous year.

electric vehicle industry in India is advancing at a rapid pace. However, industry players note that it still needs some hand-holding as it is yet to mature. There is almost a consensus on the government continuing FAME subsidies in FY25. Along with that, many industry players have asked for GST parity for EV batteries, as well as financial incentives such as tax credits, subsidies, and low-interest loans. Here's what the industry players are asking from Finance Minister Nirmala Sitharaman. Hyder Khan CEO Godawari Electric Motors «I eagerly anticipate the upcoming budget with optimism and a fervent hope for increased support towards the electric mobility sector. The extension and enhancement of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme would be instrumental in propelling India towards a sustainable and eco-friendly future. Substantial subsidies for electric vehicles and related infrastructure would not only incentivize consumers but also bolster the growth of our industry. These measures will not only promote cleaner transportation but also stimulate innovation and job creation. I look forward to a budget that recognizes the pivotal role electric mobility plays in achieving environmental goals and economic development, and I trust that the government will continue to foster a conducive ecosystem for the electric vehicle industry to thrive.»

Agratas, Tata Group’s global battery business, and Tata Technologies, an engineering and digital services company have announced their collaboration to scale Agratas’ product development and enterprise systems, supporting the design, development and manufacturing of best-in-class battery solutions.

OpenAI CEO Sam Altman is visiting South Korea on Friday and meeting leaders of chipmakers Samsung Electronics and SK Hynix, two sources with knowledge of the matter said. Altman is expected to discuss potential partnerships for making chips, the sources said, declining to be identified.

Intel on Thursday forecast revenue for the first quarter that could miss market estimates by more than $2 billion, as it grapples with uncertain demand for its chips used in the traditional server and personal computer markets. Shares fell 10% in after-hours trading, setting the stock up for a roughly $20 billion fall in market value on Friday if the losses held. Intel stock gained 66% in the past year, as the PHLX Semiconductor Index rose 53%. In an interview, Chief Executive Officer Pat Gelsinger said that the company's core businesses of PCs and servers were hitting seasonal low demand at the same time as noncore businesses such as auto chip firm Mobileye.

South Korea's SK Hynix Inc., the world's second-largest memory chipmaker, announced a return to profitability in the fourth quarter of 2023. The company recorded an operating profit of 346 billion won ($259.8 million), significantly outperforming market expectations of a 192 billion won operating loss. This marks a stark contrast to the 1.9 trillion won loss reported in the same quarter a year earlier. The profit is attributed to a surge in revenue by 47%, driven by strong demand for AI-focused memory chips.

Budget 2024 Expectations LIVE Updates: As anticipation builds for the upcoming Budget 2024 in India, a diverse array of sectors eagerly await FM Nirmala Sitharaman's announcements and fiscal policies that will shape their respective landscapes. From agriculture, infrastructure, and healthcare to education, finance, and manufacturing, each sector carries its own set of expectations for allocations and reforms.

interim budget is likely to see higher capital expenditure on infrastructure, in line with the past three years, with a focus on green investment to meet the demand for earlier committed projects, and give a push to growth, create jobs, attract private investments and offset the impact of global uncertainty, said experts. «The interim budget is a working document and I don't expect a great radical shift in policy. This means that the government will continue to maximise public expenditure on infrastructure, both core and social,» said Vinayak Chatterjee, founder, The Infravision Foundation. He said the government needs to continue higher spending on infrastructure if it aspires for gross capital formation on infrastructure to be 8-9% of GDP. According to the Confederation of Indian Industry, rationalisation of subsidies, revenue augmentation and simplification of taxes could allow the government to increase the capex by 20% to ₹12 lakh crore.