Xiaomi to invest at least $6.9 billion in chip design, founder says
Visitors walk past a Xiaomi logo at the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. REUTERS/Tingshu Wang/File Photo
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Free Malaysia Today
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- Free Malaysia Today
General Mills mulls sale of Haagen-Dazs stores in China
Haagen-Dazs ice cream will continue to be sold in Chinese supermarkets and convenience stores. (AFP pic) MINNEAPOLIS : General Mills is considering selling its Haagen-Dazs ice cream stores in China, Bloomberg News reported today, citing people familiar with the matter. The Minneapolis, Minnesota-based company may seek several hundred million dollars for the assets in a sale process that could begin this year, the report added. The discussions are in early stages and the company may not pursue a sale, the report said, adding that General Mills intends to continue selling Haagen-Dazs in places such as supermarkets and convenience stores in China. Reuters could not immediately confirm the report. General Mills did not immediately respond to a Reuters request for a comment. General Mills has been undergoing a restructuring and said last month that it would record a charge of about US$70 million in its current quarter. The restructuring efforts, estimated at around US$130 million, are expected to be completed by the end of its fiscal year 2028. Packaged food companies including McCormick, General Mills and Conagra Brands have faced slowing demand as sticky inflation has compelled budget-conscious customers to hunt for value even for essential items such as groceries.
The Star
4 hours ago
- The Star
Nvidia CEO says quantum computing is at an inflection point
PARIS (Reuters) -Quantum computing technology is at an inflection point, Nvidia CEO Jensen Huang reiterated on Wednesday at the VivaTech conference in Paris. Quantum calculations could crack problems that currently would demand years of processing from Nvidia's most advanced AI systems. Quantum computing will solve "some interesting problems" in the coming years, Huang added. The CEO made similar comments in March at Nvidia's annual software developer conference when he spoke about the potential of quantum computing, walking back comments he made in January when he said useful quantum computers were 20 years away. In March, Huang also announced a new quantum computing research lab in Boston, set to collaborate with Harvard and MIT scientists. (Reporting by Supantha Mukherjee in Paris Writing by Nathan Vifflin in AmsterdamEditing by Mark Potter)
The Star
5 hours ago
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Cuckoo International cuts IPO price by 16.3%
SINGAPORE: Household goods maker Cuckoo International has reduced its Malaysian initial public offering price by 16.3% to RM1.08 a share from RM1.29, a stock exchange filing showed on Wednesday. That would reduce the size of its IPO to about RM394mil from around RM471mil. Cuckoo International in April postponed the listing by two months citing global market volatility. The IPO, initially planned for April 30, is scheduled for completion by June 24. Cuckoo International is 62.5% owned by South Korea-listed Cuckoo Homesys, its IPO prospectus showed. - Reuters
