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By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record loss on Thursday, driven by weak demand for tech devices. A global downturn in semiconductor purchases amid an economic slowdown and weak customer spending sent chip prices plummeting in the first quarter, triggering production cuts across the […]

By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record loss on Thursday, driven by weak demand for tech devices. A global downturn in semiconductor purchases amid an economic slowdown and weak customer spending sent chip prices plummeting in the first quarter, triggering production cuts across the […]

(Reuters) – U.S. President Joe Biden and South Korean President Yoon Suk Yeol upgraded their commitment to cooperate on maintaining stability in foreign exchange markets at a summit on Wednesday, a senior South Korean economic official said. “It is meaningful that (the two leaders) expressed their willingness to actively cooperate for the financial stability at a higher level than before,” Choi Sang-mok, senior presidential secretary for economy, told reporters in […]

By Luc Cohen NEW YORK (Reuters) -A decorated U.S. Air Force veteran who was an associate of Donald Trump’s former adviser Steve Bannon was sentenced on Wednesday to 4-1/4 years in prison after admitting helping defraud donors to a campaign to build the wall along the U.S.-Mexican border pursued by the former president. Brian Kolfage, 41, was sentenced by U.S. District Judge Analisa Torres in Manhattan after pleading guilty last […]

(Reuters) – U.S. Air National Guardsman Jack Teixeira, accused of leaking classified documents online, may still have access to classified materials, federal prosecutors said in court documents filed on Wednesday. Teixeira also “took steps to obstruct the government’s investigation” into the leaks, prosecutors said, in a motion filed ahead of a hearing into his detention. “His release would heighten the risk that he would make further unauthorized disclosures of classified […]

(Reuters) – U.S. Air National Guardsman Jack Teixeira, accused of leaking classified documents online, should be held without bond pending a trial, federal prosecutors said in court documents filed on Wednesday. (Reporting by Eric Beech and Dan Whitcomb) Brought to you by www.srnnews.com

SINGAPORE (Reuters) – Singapore’s United Overseas Bank reported on Thursday a 74% surge in core net profit in the first quarter from a year earlier on the back of strong net interest and non-interest income growth. The lender’s core net profit rose to a record S$1.6 billion ($1.20 billion) in the first quarter, just above the mean estimate of some S$1.55 billion from four analysts polled by Refinitiv. UOB’s core […]

By Kevin Buckland TOKYO (Reuters) – The euro hovered near a one-year high versus the dollar on Thursday, as Europe’s resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. The risk-sensitive Aussie struggled to stay above the key 66 cent mark, while leading cryptocurrency bitcoin found its footing around $29,400 following wild swings in the previous session. The yen was […]

KUALA LUMPUR (Reuters) – The United States lifted a 17-month import ban on products from Malaysian rubber glove maker Smart Glove, saying the company has addressed exploitative labour practices. U.S. Customs and Border Protection (CBP) in November 2021 sanctioned imports from Smart Glove and its group of companies over the alleged use of forced labour at its production facilities. Smart Glove, which makes gloves used in the medical and food […]