retail - CybAI news

09 Aug

TSMC Sales Grow 45% in July on Strong AI Chip Demand

stp2y0 CommentsRAG modelsADVANCED MICRO DEVICES, APPLE INC, artificial intelligence, europe, infrastructure, JULY SARL/CAEN, NVIDIA CORP, retail, TAIWAN SEMICONDUCTOR MANUFAC, Technology, Utilities

Taiwan Semiconductor Manufacturing Co.’s revenue rose 45% in July, an early indication of strong demand for AI chips even as a global tech selloff underlined growing doubts about the technology’s potential.Sales for the month reached NT$256.95 billion ($7.9 billion). For the third quarter, analysts project TSMC revenue should grow 37% to NT$747.4 billion, with the July result suggesting TSMC may surpass those expectations. Source link lol

09 Aug

Samsung Recalls Million-Plus Electric Stoves After Fire Reports

stp2y0 CommentsRAG modelsAsia, Automotive, BEST BUY CO INC, COSTCO WHOLESALE CORP, Emerging Markets, infrastructure, retail, SAMSUNG ELECTRONICS CO LTD, South Korea, Technology, Utilities

Samsung Electronics Co. is recalling more than 1.1 million electric stoves sold in the US since 2013, following reports of 250 fires that damaged property, killed pets and injured about 40 people.South Korea’s largest company is offering free locks and covers to buyers of more than a dozen stove models, which help ensure their front-mounted range knobs stay in the “off” position, according to a notice posted on the US Consumer Product Safety Commission’s website. Samsung sold the stoves through retailers from Best Buy to Costco nationwide for between $1,250 and $3,050, the notice read. Source link lol

08 Aug

Veon Plans to Sell Up to 20% in IPO of Pakistan’s Top Mobile Operator

stp2y0 CommentsRAG modelsAmsterdam, Bangladesh, business, deals, Farrukh Khan, IPOs, Kaan Terzioglu, Moscow, Pakistan, retail, russia, Technology, ukraine

Veon Ltd., a Dutch-domiciled telecommunications company, is preparing to sell as much as 20% in its Pakistani unit Jazz in an initial public offering, Chief Executive Officer Kaan Terzioglu said.“A 12-month horizon is when we will make really concrete decisions” about the IPO, Terzioglu said in an interview in Amsterdam. Pakistan’s pension funds, local and retail investors would be keen to have a stake in the country’s biggest mobile operator, he said. Veon earned $1.12 billion in revenue from Pakistan last year. Source link lol

07 Aug

T-Mobile Postpones $561 Million Wireless Equipment ABS Offering

stp2y0 CommentsRAG modelsBANK OF JAPAN/THE, Bonds, Credit Cards, Debt, Earnings, retail, ROYAL BANK OF CANADA, T-MOBILE US INC, Technology, Wall Street, Wireless

T-Mobile US Inc. is postponing its sale of more than $500 million in asset backed securities supported by wireless equipment plans, according to people familiar with the matter.The deal, which began premarketingBloomberg Terminal last week, was set to price this week, according to an earlier message to investors. T-Mobile’s postponement marks the first notable indication of stress in the ABS market following elevated volatility this week. A maelstrom of economic indicators showing slowing growth, weak earnings from technology companies and a rate hike from the Bank of Japan damaged broader markets and caused Wall Street’s fear gauge to spikeBloomberg Terminal…

07 Aug

Shopify’s Second-Quarter Results Exceed Estimates; Shares Rise

stp2y0 CommentsRAG modelsAMAZON.COM INC, Consumer Spending, E-commerce, Earnings, Harley Finkelstein, jobs, Logistics, retail, SHOPIFY INC - CLASS A, Technology, WAYFAIR INC- CLASS A

Shopify Inc. reported second-quarter results that exceeded analysts’ estimates, suggesting that the Canadian e-commerce company is managing to navigate cautious consumer spending. Revenue for the period came in at $2.05 billion, up about 21% year-over-year and beating the $2 billion average estimate of analysts surveyed by Bloomberg. Profit, excluding one-time items, was 26 cents a share, above the 20 cents expectation. Source link lol

07 Aug

Tesla Recalls 1.6 Million Cars in China Over Hood-Lock Problem

stp2y0 CommentsRAG modelsAutomotive, china, europe, France, Government, JULY SARL/CAEN, regulation, retail, software, Technology, TESLA INC

Tesla Inc. has recalled most of the cars it’s ever sold in China due to an issue that could leave an unlocked hood to go unnoticed, creating a potential safety hazard, according to a notice by the state market regulator.A latch assembly issue may at times prevent the driver from being alerted about an unlocked front hood, which could allow the hood to fully open with the vehicle in motion, increasing the risk of a collision, according to a recallBloomberg Terminal notice by the State Administration for Market Regulation on Tuesday. Source link lol

06 Aug

Amazon’s India Country Chief Is Stepping Down in October

stp2y0 CommentsRAG modelsAMAZON.COM INC, Asia, Dhiraj Singh, E-commerce, Emerging Markets, india, Jeff Bezos, Manish Tiwary, North America, retail, Technology

Amazon.com Inc.’s India chief is leaving “to pursue an opportunity outside of the company,” the e-commerce giant said. Manish Tiwary will depart in October, a spokesperson said in an emailed statement that didn’t name a successor. Amit Agarwal, who led Amazon’s initial push into India and now runs the company’s emerging economies initiative, “will remain closely involved with the Amazon team,” the Seattle-based company said on Tuesday. Source link lol

31 Jul

Amazon Has to Recall More Than 400,000 Dangerous Products

stp2y0 CommentsRAG modelsamazon, ars technica, retail, safety, tech policy and law

Amazon failed to adequately alert more than 300,000 customers to serious risks—including death and electrocution—that US Consumer Product Safety Commission (CPSC) testing found with more than 400,000 products that third parties sold on its platform.The CPSC unanimously voted to hold Amazon legally responsible for third-party sellers' defective products. Now, Amazon must make a CPSC-approved plan to properly recall the dangerous products—including highly flammable children's pajamas, faulty carbon monoxide detectors, and unsafe hair dryers that could cause electrocution—which the CPSC fears may still be widely used in homes across America.While Amazon scrambles to devise a plan, the CPSC summarized the ongoing…

13 Jun

Sellers Call Amazon’s Buy Box ‘Abusive.’ Now They’re Suing

stp2y0 CommentsRAG modelsamazon, antitrust, Commerce, ecommerce, regulation, retail

The latest UK class action, brought by the retailers, seeks financial compensation for the company’s alleged historical practices. “The most obvious and principal effect is a loss of revenue and profits. Amazon is taking sales away from merchants, having been able to use competitor data to bring to market its own products,” claims Boris Bronfentrinker, partner at law firm Willkie Farr & Gallagher and counsel to the plaintiffs. “When companies acquire market power, they have to act with a certain responsibility. It’s not free and open to them to do what they want.”But despite the numerous existing investigations and allegations…