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TSMC cracks down on potential trade secret breach, initiates legal action

TSMC cracks down on potential trade secret breach, initiates legal action

Reuters2 days ago
Aug 5 (Reuters) - Taiwan Semiconductor Manufacturing Co (2330.TW), opens new tab said on Tuesday it had launched legal proceedings and taken disciplinary action against employees involved in potential trade secret leaks after detecting unauthorized activities during routine monitoring.
TSMC said in an emailed statement to Reuters that its "comprehensive and robust monitoring mechanisms" enabled early identification of the issue, leading to swift internal investigations and strict measures against the personnel involved.
The case, now under judicial review, prevents the company from providing further details, said TSMC, the world's top producer of advanced artificial intelligence chips.
Nikkei Asia earlier reported that the breach involved several former employees suspected of attempting to obtain critical proprietary information on TSMC's 2-nanometer chip technology.
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European shares end flat as healthcare stocks weigh after Trump's tariff threat
European shares end flat as healthcare stocks weigh after Trump's tariff threat

Reuters

time9 minutes ago

  • Reuters

European shares end flat as healthcare stocks weigh after Trump's tariff threat

Aug 6 (Reuters) - European shares closed flat on Wednesday, surrendering early session gains, as healthcare stocks felt the pinch from U.S. President Donald Trump's latest threat to impose higher tariffs on pharmaceutical imports. The pan-European STOXX 600 (.STOXX), opens new tab index closed 0.06% lower, breaking its two-day winning streak despite starting the session on a positive note. Healthcare stocks bore the brunt of the selling pressure. The sector index (.SXDP), opens new tab plunged 2.8% to its lowest level in more than three months after Trump unveiled a graduated tariff plan targeting pharmaceutical imports that could see levies on the sector jump up to 250% within 18 months. "This is where it's important to be specific about tariffs because certain stocks and sectors will be impacted differently across regions," said Steve Sosnick, chief market analyst at Interactive Brokers. "In Europe and Asia, investors are considering tariff impacts more carefully since exporters bear much of the brunt directly." The sector was also singed as Novo Nordisk ( opens new tab warned it expects continued competition from copycat versions of its Wegovy obesity drug this year, a message that sent shares of the Danish drug maker down 5.4%. Novo cut its full-year sales and profit forecasts last week, wiping $95 billion off its market value since then. Meanwhile, Swiss President Karin Keller-Sutter met with U.S. Secretary of State Marco Rubio to discuss potential trade solutions after Trump announced a 39% tariff on Swiss goods. The talks focused on increasing Swiss purchases of U.S. energy and defence products to avert the steep tariff, which threatens significant damage to Switzerland's export-driven economy. Switzerland's benchmark SMI index (.SSMI), opens new tab fell 0.9%, weighed down by drugmakers Novartis (NOVN.S), opens new tab and Roche (ROG.S), opens new tab which lost 3.3% and 2.6%, respectively. Bayer ( opens new tab shares tumbled 9.9% on investor concerns that the German pharmaceutical firm's earnings were inflated by soccer player transfer fees rather than supported by its core healthcare and agriculture businesses. On the data front, Euro zone retail sales grew quicker than thought in June, reinforcing views that the 27-nation bloc remains resilient to trade uncertainty. Among others, Beiersdorf ( opens new tab fell 8.4% and was among top decliners after the German consumer goods maker cut its annual organic sales growth outlook. On the flip side, Siemens Energy ( opens new tab rose 1% after the company said it expects to hit the upper end of its 2025 growth outlook estimates. Hiscox (HSX.L), opens new tab was the top gainer on the index, gaining 9.4% after reporting a rise in first-half insurance premiums supported by its retail business growth.

American dentist and engineer wife taught harsh lesson after SHOPLIFTING during visit to strictest country on Earth
American dentist and engineer wife taught harsh lesson after SHOPLIFTING during visit to strictest country on Earth

Daily Mail​

time33 minutes ago

  • Daily Mail​

American dentist and engineer wife taught harsh lesson after SHOPLIFTING during visit to strictest country on Earth

An American dentist and his engineer wife spent weeks behind bars after being caught red-handed stealing luxury items in notoriously strict Singapore. The pair, Kapadia Husain Zoher, 35, and Kapadia Amatullah, 30, were arrested on June 23 after stealing from designer shops at Changi Airport. Authorities said the couple, who are both US nationals, stole more than $750 of upmarket items from Louis Vuitton and Dior at the airport before trying to board their jet. They made it all the way to their seats on a flight set for Mumbai before airport police hauled them away. Cops said that CCTV from inside the airport captured the couple in the act, and both were swiftly prosecuted and subsequently pleaded guilty to theft. Zoher was handed an 18-day jail sentence and his wife was sentenced to a week behind bars for the brazen shoplifting. State Prosecuting Officer (SPO) Ng Chee Wee argued at their sentencing that Zoher 'had stolen out of greed. 'He had a habit of overspending, and he did not want to pay,' the prosecutor said. Authorities said the couple's shoplifting spree began around 5pm after they entered Changi Airport's terminal 1. They were seen on CCTV targeting a Louis Vuitton store first, where Zoher stole a credit card holder worth $600. The couple then moved to Terminal 3 around 5:40pm and went to Cosmetics & Perfumes by The Shilla, a designer store. Zoher then took a bottle of Dior Sauvage perfume worth around $160 and slipped it into his pocket, with prosecutors saying he had his wife act as a lookout.

Exclusive: 'I won't humiliate myself': Brazil's president sees no point in tariff talks with Trump
Exclusive: 'I won't humiliate myself': Brazil's president sees no point in tariff talks with Trump

Reuters

time35 minutes ago

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Exclusive: 'I won't humiliate myself': Brazil's president sees no point in tariff talks with Trump

BRASILIA, Aug 6 (Reuters) - As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday, Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with U.S. President Donald Trump that would likely be a "humiliation." Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House. "The day my intuition says Trump is ready to talk, I won't hesitate to call him," Lula said in an interview from his presidential residence in Brasilia. "But today my intuition says he doesn't want to talk. And I won't humiliate myself." Despite Brazil's exports facing one of the highest tariffs imposed by Trump, the new U.S. trade barriers look unlikely to derail Latin America's largest economy, giving Lula more room to stand his ground against Trump than most Western leaders. Lula described U.S.-Brazil relations at a 200-year nadir after Trump tied the new tariff to his demands for an end to the prosecution of right-wing former President Jair Bolsonaro, who is standing trial for plotting to overturn the 2022 election. The president said Brazil's Supreme Court, which is hearing the case against Bolsonaro, "does not care what Trump says and it should not," adding that Bolsonaro should face another trial for provoking Trump's intervention, calling the right-wing former president a "traitor to the homeland." "We had already pardoned the U.S. intervention in the 1964 coup," said Lula, who got his political start as a union leader protesting against the military government that followed a U.S.-backed ouster of a democratically elected president. "But this now is not a small intervention. It's the president of the United States thinking he can dictate rules for a sovereign country like Brazil. It's unacceptable." The Brazilian president said he had no personal issues with Trump, adding that they could meet at the United Nations next month or U.N. climate talks in November. But he noted Trump's track record of dressing down White House guests such as South African President Cyril Ramaphosa and Ukrainian President Volodymyr Zelenskiy. "What Trump did with Zelenskiy was humiliation. That's not normal. What Trump did with Ramaphosa was humiliation," Lula said. "One president can't be humiliating another. I respect everyone and I demand respect." Lula said his ministers were struggling to open talks with U.S. peers, so his government was focused on domestic measures to cushion the economic blow of U.S. tariffs, while maintaining "fiscal responsibility." He also said he was planning to call leaders from the BRICS group of developing nations, starting with India and China, to discuss the possibility of a joint response to U.S. tariffs. Lula also described plans to create a new national policy for Brazil's strategic mineral resources, treating them as a matter of "national sovereignty" to break with a history of mining exports that added little value in Brazil.

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