FILE PHOTO: A smartphone with a displayed ASML logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON : European technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor stocks following disappointing earnings from Intel.
Shares in chipmaker Intel slumped 20 per cent premarket after the company suspended its dividend and said it would cut 15 per cent of its workforce as it grapples with a pullback in spending on traditional data center semiconductors and a focus on AI chips. Amazon shares are also down around 8 in premarket trading after reporting slowing online sales growth.
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Intel plans to cut thousands of jobs to finance recovery: Bloomberg NewsIntel plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday (July 30), citing people familiar with the matter. Shares of the chipmaker, which is set to report quarterly results on Thursday, were up about one per cent in extended trading. The stock has slumped 40 per cent so...
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Traders from London to Singapore struggle as cyber outage disrupts businessLONDON: Traders in oil, gas, power, stocks, currencies and bonds from London to Singapore struggled to operate on Friday (Jul 19) as a global cyber outage hampered operations, companies, banks and
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European shares lower on earnings, bonds boosted after FedLONDON :Major European equity markets were lower on Thursday after a raft of corporate earnings in the U.S. and Europe, while prospects of upcoming policy easing in the United States boosted global bonds. The Federal Reserve held interest rates steady on Wednesday but opened the door to a cut in September.
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