Micron Financial News

US Treasury Secretary Janet Yellen said competition between the world’s biggest economies is not a “winner-take-all” situation, and called for both sides to manage their rivalry with a fair set of rules.

Janet Yellen. Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices as well as satellite imagery sensors.

The S&P 500, though lagging behind the Nasdaq, has performed very well so far this year.

By Bansari Mayur Kamdar and Johann M Cherian

America and China, the Western power has been more aggressive of late. Last year President Joe Biden’s administration laid out harsh restrictions limiting Chinese artificial-intelligence (AI) firms’ access to American technology. America has also been coaxing allies to follow its lead.

Reuters. If restrictions targeting China's high-technology sector continue then countermeasures will escalate, Wei said.  Meanwhile, according to Wall Street Journal, China set export restrictions on two minerals the US says are critical to the production of semiconductors, missile systems and solar cells, a show of force ahead of economic talks between two rivals that increasingly set trade rules to achieve technological dominance.

Edited excerpts: How did the PM’s visit push the US-India relationship forward? I think what we are seeing is a relationship which has basically moved a few steps further, broader and deeper. You can divide the visit into three broad parts. One is the ceremony like the White House welcome, the Joint Session of Congress and other events taking place.

China has imposed export curbs on two metals used in computer chips and solar cells, expanding a squabble with Washington over high-tech trade ahead of Treasury Secretary Janet Yellen’s visit to Beijing this week

China set export restrictions on two minerals the U.S. says are critical to the production of semiconductors, missile systems and solar cells, a show of force ahead of economic talks between two rivals that increasingly set trade rules to achieve technological dominance. The minerals—gallium and germanium—and more than three dozen related metals and other materials will be subject to unspecified export controls starting Aug.

China's commerce ministry said on Monday it would control exports of eight gallium products and six germanium products from Aug. 1 to protect national security, a move analysts saw as a response to escalating efforts by the United States to curb China's technological advances. Companies caught out by the abrupt news acted to secure supplies, with one U.S.

China to impose export restrictions on metals essential to make semiconductors, electric vehicles, and high-tech sectors has escalated its trade war with the United States, threatening to derail already-fragile global supply chains. The controls, China said, were aimed at protecting national security and interests. Exporters will now need prior permission to ship some gallium and germanium products. Following the sudden announcement on Monday, companies are scrambling to soothe investor worries. A China-based germanium producer told Reuters enquiries from abroad and prices had surged overnight. China's commerce ministry stated that, starting from August 1, it would exercise control over the exports of eight gallium products and six germanium products, citing the need to safeguard national security and interests. Analysts interpret this move as a retaliatory response to Washington's increasing efforts to curb China's technological advancements. Peter Arkell, Chairman of the Global Mining Association of China, told Reuters, «China has hit the American trade restrictions where it hurts.» He emphasized the significance of gallium and germanium, among other minor metals, in a wide range of tech products, highlighting that China dominates their production. Replacing China as a major supplier in the short or even medium term is deemed unrealistic.

US-based semiconductor company Microchip Technology has announced a $300 million investment plan to expand its operations in India, just days after similar moves from industry players Micron, Applied Materials, and Lam Research. To strengthen its presence in India, the company has inaugurated a new research and development (R&D) facility at One Golden Mile Office Tower in Hyderabad.

NEW DELHI : Micron Technology, Inc.’s India plant is set to begin construction within four to six weeks, as the Gujarat government has allocated land for the semiconductor factory, said communications and IT minister Ashwini Vaishnaw on Monday. The facility in Sanand, Gujarat, will be producing the first ‘Make in India’ chip, and production is expected to start by December 2024, he added. Micron, the American semiconductor packaging firm, will invest $825 million in India to set up the assembly and testing facility, it’s first factory here.

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Micron Technology Inc. (MU) said it will cut 10% of its workers and suspend 2023 bonuses after it posted a quarterly loss, the latest Big Tech firm to retreat on jobs as the global economy slows.

semiconductor supply chain, claimed a new study by SBI Research titled «The Beginning of a New World Order of Collaborative Knowledge Economies» on Monday. The comments on the back of India securing $825 million for a new chip assembly and test facility in India by American chip maker Micron Technology. “India at present has a negligible share in semiconductor supply chain.

BEIJING — The People's Bank of China announced Saturday that Pan Gongsheng, head of the country's foreign exchange regulator, would become the central bank's party secretary.

By Andrea Shalal

By Louis Juricic and Sarina Isaacs

Investing.com — The Dow closed higher Thursday, as banks racked up gains after the Federal Reserve’s stress test showed they were strong enough to weather a severe recession scenario.

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