Tech

The cofounder of Arm is trying to block the chip design firm’s $40 billion sale to Nvidia, saying it would ‘destroy’ its business model while making the UK ‘collateral damage’ in US-China tensions

Hermann Hauser, the cofounder of chip designer Arm, wrote a letter to the UK Prime Minister urging him to block Nvidia from buying the firm from Softbank in a $US40 billion deal. Nvidia’s acquisition of Arm could ‘destroy’ the firm’s business model, may force hundreds of its customers across the […]
The cofounder of Arm is trying to block the chip design firm’s $40 billion sale to Nvidia, saying it would ‘destroy’ its business model while making the UK ‘collateral damage’ in US-China tensions
Markets

US trade deficit in July hits widest point in 12 years

Summary List Placement The US trade deficit in July swelled to its greatest gap since the 2008 financial crisis, the Commerce department reported Thursday. The US trade deficit, or gap between imports and exports, widened nearly 19% to $US63.6 billion in July from $US53.5 billion in June, according to the […]
US trade deficit in July hits widest point in 12 years
News

The CEO of the largest iPhone manufacturer reportedly predicted that China would no longer be the ‘world’s factory’ due to Trump’s trade war

Foxconn Chairman Young Liu said Trump’s trade war against China meant its “days as the world’s factory are done,”Bloomberg reported Wednesday. Foxconn, the largest iPhone maker, said it planned to diversify production lines to avoid tariffs the Trump administration has imposed on Chinese-made goods, according to Bloomberg. Liu told Bloomberg […]
The CEO of the largest iPhone manufacturer reportedly predicted that China would no longer be the ‘world’s factory’ due to Trump’s trade war
Markets

‘The market is ahead of the fundamentals’: Billionaire investor Leon Cooperman says stocks are overvalued, especially considering the huge increase in debt

Billionaire investor Leon Cooperman told CNN in a Monday interview that the stock market is overvalued, and that he’s worried about the huge increase in national debt. “The China relationship deteriorating, the tremendous increase in debt in the system, certainly from the election, the virus issues,” are risks that could […]
‘The market is ahead of the fundamentals’: Billionaire investor Leon Cooperman says stocks are overvalued, especially considering the huge increase in debt
Markets

China won’t use the yuan to ‘aggressively’ attack the US, even as trade tensions between the world’s 2 largest economies rise, Morgan Stanley says

Morgan Stanley does not think China will use its Yuan “aggresively” against the US even as trade tensions mount between both countries. Morgan Stanley chief Asia economist Chetan Ahyda said: “China doesn’t want its currency to be that volatile.” China devalued its currency in 2018 prompting the US to label […]
China won’t use the yuan to ‘aggressively’ attack the US, even as trade tensions between the world’s 2 largest economies rise, Morgan Stanley says