EUR/USD 1.14360
0.035%
Gold 4174.79
1.240%
Oil 68.721
0.443%
USD/JPY 161.359
0.158%
GBP/USD 1.33524
0.049%
GBP/JPY 215.459
0.223%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 4 - Ali Azmai, former deputy commander of the Iranian Islamic Revolutionary Guard Corps (IRGC) Navy, has been appointed as the commander of the IRGC Navy. Azmai previously served for a long time in the IRGC Navy.July 4th - According to the New York Times, four officials familiar with the details of the meeting revealed that in the final stages of negotiations, when Iranian Supreme Leader Mojtaba Khamenei hesitated to approve the preliminary ceasefire agreement, Iranian President Pezechzian visited him. The Iranian president told the Supreme Leader that the economic situation was dire, the US naval blockade was strangling Iran, and he would resign if he rejected the agreement. Furthermore, the Governor of the Central Bank of Iran, Abdulnaser Hemmati, also wrote to Khamenei, stating that the country faced a severe budget crisis and that critical food and medical supplies would run out by the end of August if the naval blockade continued. Hemmati explained in the letter that Iran could not sell oil on the required scale or find alternative trade routes. These statements played a crucial role in Mojtabas eventual decision to support the agreement. In a brief public statement, he stated that although he opposed the agreement "in principle," he instructed the president to proceed if he obtained the support of the Supreme National Security Council. Pezechzian stated that the council approved the agreement by 12 out of 13 votes.July 4th - According to the China Earthquake Networks Center, a magnitude 4.3 earthquake struck Binchuan County, Dali Prefecture, Yunnan Province (25.95°N, 100.58°E) at 18:28 on July 4, 2026, with a focal depth of 10 kilometers. Following the earthquake, the China Earthquake Administration quickly activated a Level IV emergency response, coordinating with the China Earthquake Networks Center and the Yunnan Provincial Earthquake Administration to conduct emergency response, requiring relevant units to hold joint consultations, strengthen seismic monitoring and post-earthquake trend analysis, and promptly report relevant information.July 4th - At 17:30 Beijing time on July 4, 2026, my country successfully launched the Qianfan Polar Orbit 13 satellite constellation into its predetermined orbit using a Long March 6A carrier rocket from the Taiyuan Satellite Launch Center. The launch mission was a complete success.On July 4th, European Central Bank (ECB) Governing Council member Mohelan stated on Saturday that following last months interest rate hike, data shows inflation has fallen with the plunge in oil prices, placing the ECB in a "favorable position." The ECB does not provide forward guidance, so it will not reveal its plans for July. However, the rapid decline in oil prices has provided some relief and puts the ECB in a more advantageous position regarding interest rates. Mohelan also stated that the ECBs 2.25% interest rate is "very low" compared to other central banks, and the June rate hike was "reasonable" under any circumstances. He further pointed out that the ECBs communication at the time indicated that this rate hike was not the start of a new tightening cycle.

Foxconn Is Expected to Shortly Be Fined For Unapproved China Investment

Skylar Williams

Dec 19, 2022 12:12

15.png


Foxconn, the world's largest contract electronics manufacturer, is likely to be penalized by Taiwan's government for an unauthorized investment in a Chinese chip manufacturer, a source with direct knowledge of the case said Monday.


Taiwan, which Beijing claims as sovereign Chinese territory, keeps a cautious eye on China's ambitions to expand its semiconductor sector and is tightening regulations to prevent China from stealing its chip technology, as it sees it.


Foxconn, a key Apple Inc. (NASDAQ:AAPL) supplier and iPhone manufacturer, reported in July that it was a stakeholder in troubled Chinese semiconductor firm Tsinghua Unigroup, but said late Friday that it will sell the stock. Saturday, Taiwan said it will penalize Foxconn for the investment.


The acquisition had not been approved by Taiwan's government, which must authorize all overseas investments. Taipei also prevents corporations from constructing their most advanced semiconductor foundries in China, ensuring that they do not export their most advanced technologies.


Monday, the Economy Ministry will call Foxconn to confirm the share transaction, a source familiar with the matter told Reuters.


"Even if the investment was subsequently withdrawn, it has been established that they invested first, and they will be penalised," a person who was not authorized to talk to the media said.


"It shouldn't take too long for Hon Hai to be penalized," the insider continued, referring to the formal name of the corporation, Hon Hai Precision Industry Co Ltd.


Reuters earlier reported that the corporation might face a punishment of up to T$25 million (about $813,749)


Foxconn declined to comment.


Tsinghua Unigroup has not provided a response to a request for comment on the withdrawn investment.


According to Taiwanese legislation, the government may restrict investments in China based on "national security and industrial development considerations." Repeatedly fining lawbreakers until adjustments are made is a possibility.


Foxconn has been pursuing the acquisition of global chip manufacturing facilities in response to a global chip shortage that has shaken the automotive and electronics industries. As it develops into the electric car sector, it is eager to manufacture auto chips in particular.

Suggestion