Financial News

Friday, April 9th
April 8, 2021
AP-NC Newswatch
April 9, 2021
Financial News

 

Asian shares fall…AMZN employee vote…US-China tech fight

 

BANGKOK (AP) – Shares fell today in most Asian markets after China reported a stronger than expected rise in prices that could prompt authorities to act to cool inflation. Japan’s benchmark Nikkei 225 index rebounded after falling the day before. Shares declined in Hong Kong, Shanghai, Sydney and Seoul.

 

UNDATED (AP) – Amazon is heading into the final stretch of a union push in Bessemer, Alabama, with a sizeable lead over labor organizers. With nearly half the ballots counted Thursday night, 1,100 warehouse workers had rejected the union while 463 voted in favor of it. The count will resume this morning in Birmingham, Alabama, where agents for the National Labor Relations Board are counting each vote by hand. The Retail, Wholesale and Department Store Union says about 55% of the nearly 6,000 workers who were eligible to vote actually sent in a ballot.

 

BEIJING (AP) – China’s government is criticizing the Biden administration’s curbs on access to U.S. technology for its supercomputer developers and says sanctions “only strengthen China’s determination” to invent its own. The sanctions are the latest sign President Joe Biden is sticking to the tough line taken by his predecessor, Donald Trump, toward Chinese tech industries seen by Washington as potential threats. The step adds to U.S.-Chinese conflict over the ruling Communist Party’s industrial plans, access to American technology and accusations of computer attacks and theft of business secrets.

 

TAIPEI, Taiwan (AP) – Taiwan Semiconductor Manufacturing Co., the world’s biggest contract producer of processor chips, says its revenue rose 16.7% in the latest quarter over a year earlier as the global economy rebounded from the coronavirus pandemic and demand surged. The company says revenue rose to 362.4 billion New Taiwan dollars ($12.7 billion). Revenue in March rose 13.7% over a year earlier to 129.1 billion New Taiwan dollars ($4.5 billion). TSMC makes chips for major brands including Apple Inc. and Qualcomm Inc. TSMC said this week it plans to invest $100 billion in the next three years to expand manufacturing and in research and development. It also plans to spend $3.5 billion on a factory in North Phoenix, Arizona.

 

TIRANA, Albania (AP) -Commercial flights have resumed at Albania’s Tirana International Airport after they were blocked for two days by an air traffic controllers’ strike. The first commercial flight with passengers left the airport for Italy at 9:05 a.m. local time after the government hired Turkish and Greek controllers to replace the local ones. The civilian air traffic controllers have avoided terming their action a strike – which they are not allowed to engage in under Albanian law – but said they were temporarily unable to work due to stress. The incident also turned into a political issue as the country has a parliamentary election on April 25.