Saudi Arabia's sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup, a regulatory filing showed, giving it a portfolio of nearly $10 billion in U.S.-listed stocks. The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak. The PIF disclosed stakes worth $713.7 million in Boeing, ABOUT $522 million in Citigroup, $522 million in Facebook, $495.8 million in Disney and $487.6 million in Bank of America, the U.S. Securities and Exchange Commission (SEC) filing https://bit.ly/3e2A01B on Friday showed. The PIF has a nearly $514 million stake in Marriott and a small holding in Berkshire Hathaway, according to the filing. The PIF also disclosed an $827.7 million stake in oil company BP, which has American Depository Receipts (ADRs) listed in the United States. "The Saudi sovereign fund went … [Read more...] about Saudi wealth fund boosts US holdings with stakes in Citi, Boeing, Facebook
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China's Semiconductor Manufacturing International Corp (SMIC) will raise 46.29 billion yuan ($6.55 billion) in a Shanghai share sale, more than double its initial target, pricing its offering following a surge in its Hong Kong-listed stock. The company, which had originally sought to raise about 20 billion yuan, set the sale price of its shares to be traded in Shanghai at 27.46 yuan each, it said in a filing to the Shanghai Stock Exchange on Sunday. The offering values the company at 109.25 times its 2019 earnings, based on the expanded share base, according to the filing. By comparison, rival Taiwan Semiconductor Manufacturing Co Ltd (TSMC) has a trailing price-earnings ratio of 21.315. SMIC's fundraising comes as the Shanghai-based firm bulks up its war chest amid broader tech-related tensions between the United States and China, and will be used to fund projects and replenish operating capital. Established in 2000, SMIC is mainland China's top semiconductor foundry and … [Read more...] about China chipmaker SMIC to raise $6.55 billion in Shanghai share sale
SHANGHAI: Intel Capital, the venture arm of chipmaker Intel Corp, has invested in two Chinese startups in the semiconductor sector, the company announced, as part of its latest batch of deals. The investments in companies that compete in fields typically dominated by U.S. players come as Intel remains embroiled in tensions between the United States and China over chip manufacturing. ProPlus, one the Chinese startups Intel Capital has funded, makes EDA software that chip makers use to design their products before manufacturing them. The leaders in that field, Cadence Design Systems Inc, Mentor Graphics, and Synopsys Inc - all hail from the United States. ProPlus Chairman and CEO Zhihong Liu once worked as a VP at Cadence Technologies while its director, Chenming Hu, once served as the CTO of Taiwan Semiconductor Manufacturing Co Ltd (TSMC). Spectrum Materials, based in the southern Chinese province of Fujian, makes gases critical for semiconductor fabs to produce physical … [Read more...] about Intel Capital invests in Chinese chip companies amid tech tensions
Lytro also makes some tradeoffs to get such an attractive product, and in doing so sacrifices some of the cameraâs usability. Take the zoom control, for instance: atop the camera are a series of raised touch-sensitive bumps, and you slide your finger along them to zoom in and out. Itâs nice that it blends into the camera, but itâs not a good solution â itâs hard to avoid since you donât know where it is until you touch it. Also, zooming all the way in takes about five swipes along the pads (and thus a long time to zoom), and it can be overly sensitive, reacting even when you brush it slightly and unintentionally. The hidden power and shutter buttons are both soft, with a nice travel and soft response, though the power button can be hard to find unless you look for it. Other than those controls and a Micro USB port thatâs hidden by a rubber flap, nothing mars the … [Read more...] about Lytro review
The PC companies didn't like it but Microsoft sure did. He was making Microsoft billions. So, when web browsers started becoming a big deal in the mid-1990s, Kempin helped come up with the idea of requiring all PC companies to ship Internet Explorer with every copy of Windows 95 sold. Every PC also had to sport the IE icon on every new Windows 95 machine that went out the door. … [Read more...] about Was Microsoft in the 1990s really better than Apple in the 2020s?