Foxconn will hold a press conference with TECO Electric on Wednesday
The press conference comes after the Apple (AAPL.O), opens new tab and Nvidia (NVDA.O), opens new tab supplier halted trading in its shares late on Tuesday, citing a plan to release material information. TECO also halted trading in its shares.
Taiwan's TECO Electric & Machinery Co (1504.TW), opens new tab is Taiwan's top industrial motor maker and ranks among the world's top five suppliers of small low-voltage and medium- to high-voltage motors. The company also produces motors for electric vehicles.
TECO entered the data center infrastructure market earlier this year with the acquisition of an 80% stake in Malaysia's NCL Energy. In July, the company said it had secured major data center projects in the Malaysian states of Selangor and Johor Bahru.
Foxconn has a big artificial intelligence server business and is actively expanding its electric vehicle business. It has also been seeking partnerships with automakers and the supply chain.
Foxconn said its spokesperson James Wu would attend the meeting.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
22 minutes ago
- Reuters
Canada to help lumber industry cope with US tariffs, says Carney
OTTAWA, Aug 5 (Reuters) - Canada will provide up to C$1.2 billion to help softwood lumber producers deal with U.S. countervailing and anti-dumping duties, Prime Minister Mark Carney said on Tuesday. Carney, speaking to reporters in the Pacific province of British Columbia, said Ottawa would make up to C$700 million available in loan guarantees and also provide C$500 million to help speed product development and market diversification. ((Reporting by David Ljunggren, editing by Promit Mukherjee)) (Reuters Ottawa editorial; opens new tab)) Keywords: USA TARIFFS/TRUMP CANADA
Reuters
an hour ago
- Reuters
US dollar rises as market eyes Fed chair successor
NEW YORK/MILAN, Aug 5 (Reuters) - The U.S. dollar rose against most currencies on Tuesday, but remained within striking distance of Friday's lows, with the market still in consolidation mode. The market is focused on President Donald Trump's nominations to the Federal Reserve Board after the resignation of Fed Governor Adriana Kugler last Friday as well as his choice for commissioner of Bureau of Labor Statistics. Trump on Tuesday said he would announce decisions soon on a short-term replacement for Kugler, including his pick for the next Fed chair. He ruled out U.S. Treasury Secretary Scott Bessent as a contender to replace current chief Jerome Powell whose term ends in May 2026. Bessent wanted to remain in his current job. The White House is looking at four candidates to replace Powell. "These last two days we have been consolidating. And the data this week doesn't really matter so much. With the Q2 GDP out, most of the data is old news," said Marc Chandler, chief market strategist, at Bannockburn Forex. "What we're waiting for is the next day or two, people are expecting Trump to announce who's going to replace the retiring Fed governor, and who's going to be at the BLS." Trump said on Sunday he a new BLS commissioner within three or four days. Analysts said Kugler's exit and the firing of the BLS's commissioner could harden views that the Federal Open Market Committee's independence is protected, recalling that the new appointee will be just one vote on the FOMC. Tuesday's data, meanwhile, had little impact on the currency market. U.S. services sector activity unexpectedly showed a flat outcome in July, with little change in orders and a further weakening in employment even as input costs climbed by the most in nearly three years. The Institute for Supply Management said on Tuesday its non-manufacturing purchasing managers index (PMI) slipped to 50.1 last month from 50.8 in June. Economists polled by Reuters had forecast the services PMI would rise to 51.5. A PMI reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of the economy. The euro was last down 0.2% against the dollar at $1.1553. That pushed the dollar index , which measures the U.S. currency against six counterparts with the euro as the biggest component, up 0.30% at 98.88, after touching a one-week low earlier in the session at 98.609. Weak U.S. jobs data last Friday had boosted bets on Federal Reserve rate cuts and triggered a sharp dollar selloff. U.S. rate futures are now pricing in an 88% chance of the Fed cutting rates in its next meeting in September, compared with 35% a week earlier, according to the CME's FedWatch. They also indicate 60 basis points (bps) of cuts by end-December and 130 bps in rate declines by October 2026, 30 bps more than the levels seen on Friday before the U.S. jobs data. Goldman Sachs expects the Fed to deliver three consecutive 25 basis-point rate cuts starting in September, with a 50 basis-point move possible if the next jobs report shows a further rise in unemployment. The dollar rose 0.2% to 147.42 yen , after minutes of a June policy meeting showed a few Bank of Japan board members said the central bank would consider resuming interest rate increases if trade frictions de-escalate. Sterling was flat against the dollar, as traders expect the Bank of England to maintain its rate guidance at this week's policy meeting. It was last little changed at $1.3292 . The focus, however, remains on tariff uncertainties, after the latest duties imposed on imports from dozens of countries last week by Trump increased worries about the health of the global economy. The 15% tariff that European Union goods face when entering the U.S. is all-inclusive, a senior EU official said on Tuesday. The Swiss franc , on the other hand, was flat at 0.8072 per dollar, after dropping 0.5% in the previous session. But it was still above the levels seen before Friday's data at around 0.8128. Switzerland is looking to make a "more attractive offer" in trade talks with Washington, to avert a 39% U.S. import tariff on Swiss goods that threatens its export-driven economy.
The Independent
2 hours ago
- The Independent
Spotify's price is going up again, here are 6 cheaper music streaming services
Spotify is one of the most expensive music streaming services in the world, and it's about to get even pricier. On 4 August, Spotify announced it would be increasing prices in a number of regions, though it didn't elaborate on which countries would be affected. In a blog post, Spotify said individual premium subscriptions would be going up from €10.99 per month to €11.99 per month in September, including Europe, South Asia, the Middle East, Africa, Latin America and the Pacific. If the price hike comes to the UK, Spotify subscribers could be asked to pay £12.99 per month. The streamer already increased the price of an individual subscription by £1 last year to £11.99, and raised the price of its other plans, like the family and duo subscription, by £2 per month, leaving many disgruntled users looking for cheaper alternatives to the platform. According to Reuters, despite increasing its user base and subscriber numbers, Spotify is having to pay more tax on employee salaries, which is the reason for the price hike. If you've started looking at switching away from the music platform and want to cancel your Spotify Premium membership, we've rounded up the best, cheaper Spotify alternatives to subscribe to right now. Amazon Music Unlimited is the retail giant's premium music streaming service tier. With a subscription, you can listen to more than 100 million songs ad-free, offline and with unlimited skips. You also get access to Amazon Music's HD CD-quality tracks, lossless hi-res tracks and spatial audio. At the start of the year, Amazon hiked the price of its Amazon Music Unlimited streaming service, increasing the individual membership fee to £11.99, the same price as Spotify. But – and this is a big but – its individual subscription is £1 cheaper than Spotify's if you're subscribed to Amazon Prime (£10.99, and you get access to lossless audio. If you're a Prime member and don't subscribe to Amazon Music Unlimited, you get free access to all of Amazon Music's catalogue already, but you can only listen in shuffle mode and usually have to pick songs from Amazon's all-access music playlists. If you own a Fire TV stick or an Amazon Echo smart speaker, there is also a single-device subscription available for £5.99 a month. Individual plan: £10.99 per month Student plan: £5.49 per month Family plan: £16.99 per month (up to five additional members) Free trial: A one-month free trial is offered with a paid subscription Strip out all the cat videos, low-res vlogs and memes but keep all the songs, albums, remixes, live performances and music videos, then throw in some recommended playlists. That's YouTube Music Premium in a nutshell. If you subscribe to the service, you'll be able to play music in the background whenever your phone's screen is locked or you're using a different app. It also removes the ads and enables offline play. For an extra £2 per month (£1 more than Spotify Premium) you can get full YouTube Premium, which removes ads from all YouTube videos, watch using picture-in-picture mode, and listen to YouTube videos with your screen switched off. A subscription to YouTube Music Premium is cheaper than all of Spotify's plans, with the individual plan costing £1 less, and the family plan costing £3 less. Individual plan: £10.99 per month Student plan: £5.49 per month Family plan: £16.99 per month (up to six members) Free trial: A one-month free trial for new subscribers DJ extension: £9 extra on Individual and Student plans, for mixing music with stem separation Tidal sets itself apart as a streaming service with high-fidelity sound. The brainchild of the rapper Jay-Z, it bills itself as offering lossless music that sounds the way the artists intended it, and it pays artists one of the best fees per play. The streaming service features more than 110 million tracks, exclusive releases, interviews and music videos. Tidal simplified its pricing structure in April 2024, combining its two former tiers (HiFi and HiFi Plus) into a single subscription. All users pay £10.99 per month and get access to the platform's full suite of premium features, including high-fidelity FLAC audio, Master Quality Authenticated (MQA) tracks, and immersive formats like Dolby Atmos and Sony 360 Reality Audio, making it one of the best value music streaming services around. Last year, Tidal launched the DJ Extension, which lets users mix songs and separate stems, giving them access to enhanced BPM metadata within apps like rekordbox, Serato and DJ Pro. It costs an additional £9 on top of a regular Tidal subscription. Individual plan: £10.99 per month Student plan: £5.99 per month (with the first six months free) and a free subscription to Apple TV+ Family plan: £16.99 per month (up to six members) Free trial: A one-month free trial is available for new members, and six months free with the purchase of an eligible device Apple Music is, unsurprisingly, Apple's ad-free music streaming service. It has more than 100 million tracks, over 30,000 curated playlists, live radio and original shows, concerts and exclusives. Its entire catalogue can be listened to in lossless hi-res audio, and spatial audio can be enabled on its tracks. You can download up to 100,000 songs to play offline, and you also get access to Apple Music Classical – the new classical-only service – as well as Apple Music Sing, which is Apple's karaoke mode. In October 2022, Apple increased the price of its Apple Music subscription. An individual membership currently costs £1 less than a Spotify individual membership, while the family tier is £3 cheaper. It's good to note that you do get lossless hi-res audio and spatial audio with Apple Music, and students get a subscription to Apple TV+ for free. There is, of course, the Apple One subscription, which gives you up to six Apple subscriptions for one lower monthly price, including up to 2TB of iCloud+ storage and access to Apple Music. Individual plan: £11.99 per month (£8.99 per month if paid annually) Student plan: £5.99 per month Duo plan: £15.99 per month (£14.58 per month paid annually) Family plan: £19.99 per month (£18.25 per month paid annually), up to five additional members Free trial: A one-month free trial for new users In an alternate reality, Deezer could have been the Spotify of today, having launched a year before the Swedish company and featuring the same rich library of music and features. Deezer is free if you're prepared to put up with the ads, but the good stuff is all in its premium tier. It has more than 90 million tracks, and Deezer Premium gets rid of the ads, adds offline listening and high-fidelity FLAC audio, which Spotify lacks. As well as music, there are podcasts and radio stations, personalised recommendations and a Shazam-style SongCatcher feature to help identify tracks around you. Deezer also works on smartwatches, smart speakers and car audio systems. While Deezer is as expensive as Spotify, if you pay for a full-year subscription, you'll get a 25 per cent discount, making it significantly cheaper than Spotify. SoundCloud Go plan: £5.99 per month SoundCloud Go+ plan: £10.99 per month Student plan: Go+ for £5.49 per month Free trial: 7-day trial with Go, 30-day trial with Go+ Underground music fans will be very familiar with the music distribution platform SoundCloud. Launched in 2007, SoundCloud is a music streaming service for music producers, independent up-and-coming artists, podcast producers and their listeners, hoping to discover new music. It also has a giant library of 180 million tracks, mostly uploaded directly by artists. There are two premium SoundCloud tiers. SoundCloud Go costs £5.99 per month – it gets rid of all the ads and you get unlimited offline downloads. However, Go+ costs £10.99 per month and gets you access to SoundCloud's entire library, as well as higher-quality audio. SoundCloud Go+ is still significantly cheaper than Spotify. While it doesn't have a family plan, there is a student plan for £5.49 per month. The Go+ plan also lets you listen on up to three devices at once.
