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Nippon Steel Reports Annual Loss Despite U.S. Steel Acquisition Expenses

Nippon Steel Reports Annual Loss Despite U.S. Steel Acquisition Expenses

Nippon Steel, Japan's biggest steel producer, has shockingly reduced its full-year financial outlook in a radical change from its previous estimate of a 200 billion yen profit to an annual loss of 40 billion yen ($266 million). The company said it made this downward adjustment primarily due to

Tesla Inks $4.3 Billion Battery Pact with LG Energy Solution to Cut Chinese Dependence

Tesla Inks $4.3 Billion Battery Pact with LG Energy Solution to Cut Chinese Dependence

In a significant strategic move to wean itself off Chinese suppliers, Tesla signed a $4.3 billion battery supply agreement with South Korea's LG Energy Solution (LGES). LGES will provide lithium iron phosphate (LFP) batteries for Tesla's energy storage products from its U.S. facility in

Nvidia Buys 300,000 H20 Chips from TSMC as Resurgent Chinese Demand Boosts Orders

Nvidia Buys 300,000 H20 Chips from TSMC as Resurgent Chinese Demand Boosts Orders

In a telling sign of continuing U.S.-China tech tensions, Nvidia has ordered a new batch of 300,000 H20 chips from contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), two people with knowledge of the situation said. The move is a change of approach from Nvidia's earlier

VW's Skoda Reports 12% H1 Profit Increase as Electric Sales Gain Momentum

VW's Skoda Reports 12% H1 Profit Increase as Electric Sales Gain Momentum

Skoda Auto, the Czech automaker and Volkswagen Group's dominant subsidiary, posted a sharp increase in profitability during the first half of 2025 on the back of a strong drive for electric vehicles. The carmaker said on Monday its operating profit increased almost 12% from a year ago to

Tesla, Samsung Ink $16.5 Billion AI Chip Supply Agreement: What It Says About Industry

Tesla, Samsung Ink $16.5 Billion AI Chip Supply Agreement: What It Says About Industry

In a breakthrough for the world semiconductor and electric vehicle sectors, Elon Musk has affirmed that Tesla signed a $16.5 billion chip supply agreement with Samsung Electronics. This huge deal represents a turning point for Samsung's underperforming foundry division and may reconfigure the competitive landscape of the

Intel Lays Off More Staff as CEO Tan Rolls Out Radical Reforms to Correct Manufacturing Blunders

Intel Lays Off More Staff as CEO Tan Rolls Out Radical Reforms to Correct Manufacturing Blunders

Intel, the former crown jewel of the U.S. chip industry, is experiencing one of the largest overhauls in its history. Under the new stewardship of CEO Lip Bu Tan, Intel is dramatically shrinking, planning to trim its staff by 22% by 2025—an enormous number for a company that

Kia Corp Suffers \$570 Million U.S. Tariffs Hit in Second Quarter

Kia Corp Suffers \$570 Million U.S. Tariffs Hit in Second Quarter

South Korea's Kia Corp said on Friday that it took a huge hit of 786 billion won ($570 million) in the second quarter of 2025, largely because of U.S. tariffs. The surprise setback helped to send its operating profit down 24% to 2.76 trillion won from