UBS just downgraded critical chip firm ASML on expectations of a demand ‘normalization’
ASML, the critical chip equipment supplier, is set to face softer demand from buyers of its products in the coming years, according to UBS analysts.
U.S. targets Russia over 2024 election influence operation
A group of Russians and entities in Russia were indicted in 2018 for interference in the 2016 election between Donald Trump and Hillary Clinton.
Microsoft dodges in-depth UK probe into hiring of staff from AI firm Inflection
Microsoft’s hiring of employees from artificial intelligence firm Inflection was cleared by the U.K.’s competition regulator on Wednesday.
Sweden’s Volvo Cars scraps plan to sell only electric vehicles by 2030
The announcement means Volvo Cars follows in the footsteps of other industry players in scaling back its EV ambitions.
Qualcomm ramps up challenge to Intel and AMD with latest AI PC chip
Qualcomm launched the Snapdragon X Plus 8-core processor as it looks to ramp up its push into the AI PC space, taking on Intel and AMD.
Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again
Total mortgage application volume rose 1.6% last week, compared with the prior week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Alibaba to allow payment through Tencent’s WeChat Pay for the first time on e-commerce apps
Alibaba’s shopping platforms Taobao and Tmall will accept Tencent’s WeChat Pay likely within this month, a source familiar with the matter told CNBC.
After Putin dodges arrest in Mongolia, the Kremlin says no one can hold Russia back
There was more than a whiff of self-satisfaction from the Kremlin on Wednesday, after Russian President Vladimir Putin wasn’t arrested on his trip to Mongolia.
Cathay Pacific confirms it expects A350s back in service within days after engine issue
The Hong Kong airline said 15 of the 48 Airbus A350s in its fleet were found to have engine fuel lines that required replacement.
Europe stocks close sharply lower as tech stocks lead losses; Dutch chip firm ASML falls 6%
European stocks stocks closed sharply lower on Wednesday, tracking losses on Wall Street and in Asia-Pacific markets.
