This CEO Wants You to Know He Didn't Steal Money While Cooking the Books
Welcome to Tech In Depth, our daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Olivia Poh tells the story of a SoftBank-backed startup that went astray.
AMD's chip curbs: Advanced Micro Devices expects to take a charge of as much as $800 million after the Trump administration imposed new restrictions limiting the flow of chips to China. The company said it will seek the appropriate export licenses, but can't guarantee it will receive them.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
30 minutes ago
- Bloomberg
What Australia's $2 Million Pensions Tax Means for Wealthy Savers
Many Australians are already subject to a 15% tax on their superannuation profits, but the wealthiest are facing another levy on top of that. This week on the podcast, Chris Bourke asks cross-asset reporter Richard Henderson to explain how the tax will work, who will be affected, and if Australia's super system is becoming a wealth accumulation vehicle for the rich. Read more on Australia's pension industry: Wall Street Wins More of Australia's $2.7 Trillion Pension Pot Listen and follow The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you get your podcasts. Terminal clients: Run {NSUB AUPOD } on your desktop to subscribe.
CNBC
35 minutes ago
- CNBC
Oil prices tick up on worries of escalating U.S.-Iran tension
Oil prices edged higher on Thursday to their highest in more than two months, after U.S. President Donald Trump said U.S. personnel were being moved out of the Middle East, which raised fear that escalating tensions with Iran could disrupt supply. Brent crude futures rose 15 cents, 0.2%, to $69.92 a barrel at 1230 am GMT, while U.S. West Texas Intermediate crude 22 cents, 0.3%, to $68.37. Both Brent and WTI surged more than 4% to their highest since early April on Wednesday. Trump on Wednesday said U.S. personnel were being moved out of the Middle East because "it could be a dangerous place," adding that the United States would not allow Iran to have a nuclear weapon. Reuters reported earlier on Wednesday that the U.S. is preparing a partial evacuation of its Iraqi embassy and will allow military dependents to leave locations around the Middle East due to heightened security risks in the region, according to U.S. and Iraqi sources. Iraq is OPEC's No. 2 crude producer after Saudi Arabia. A U.S. official said military dependents could also leave Bahrain. Meanwhile, Iran's Minister of Defense Aziz Nasirzadeh said Tehran will strike U.S. bases in the region if nuclear talks fail and conflict arises with Washington. Trump has repeatedly threatened Iran with bombing if it does not reach a new nuclear deal. Optimism around a trade deal between the U.S. and China, which could boost energy demand in the world's two biggest economies, also buoyed oil prices. In the U.S., crude inventories fell by 3.6 million barrels to 432.4 million barrels last week, the Energy Information Administration said. Analysts polled by Reuters had expected a draw of 2 million barrels.
CNBC
35 minutes ago
- CNBC
Gold climbs on rising Middle East tensions, weaker dollar
Gold prices rose on Thursday, bolstered by rising tensions in the Middle East and a weaker dollar, while softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. Spot gold was up 0.7% at $3,375.06 an ounce, as of 0343 GMT. U.S. gold futures gained 1.5% to $3,395. The U.S. dollar index fell to a near two-month low, making greenback-priced bullion more attractive to overseas buyers. The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a "bullish breakout" of the $3,346 resistance triggered technical buying. Rising geopolitical risks aided safe-haven assets, with President Donald Trump announcing on Wednesday that U.S. personnel were being moved out of the Middle East due to heightened security risks amid rising tensions with Iran. Meanwhile, U.S. consumer prices increased less than expected in May, driven by cheaper gasoline, though inflation could accelerate due to import tariffs. The data prompted renewed calls from Trump for significant rate cuts. "We could potentially see the Fed moving more quickly than anticipated, given the CPI data, which is not particularly alarming at this juncture," Wong said. Traders now expect 50 basis points of rate cut by year-end. U.S. producer price index data is due at 1230 GMT. Meanwhile, Trump said on Wednesday that Washington and Beijing had agreed on a framework to restore a fragile truce in the U.S.-China trade war, potentially avoiding higher tariffs. Trump added he could extend a July 8 deadline for trade talks with other nations before higher U.S. tariffs take effect but did not foresee such a need. Elsewhere, spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.3% to $1,272.50, still hovering near a more than 4-year high, while palladium was down 1% at $1,068.92.
