29 C Internet / The Economic Times
New Zealand's Prime Minister Christopher Luxon proposed a ban on social media for children under 16, aiming to shield them from online dangers. The draft laws would require social media companies to verify user ages or face substantial fines. This initiative mirrors Australia's stringent regulations and seeks to address parental concerns about social media's impact on children.
Gautam Adani's group has paused discussions with Tower Semiconductor for a $10 billion chip project, deeming it strategically and commercially unviable due to uncertain demand in India. Adani sought a greater financial commitment from Tower, leading to the hold. This decision poses a setback to India's ambition to become a chipmaking hub, especially after the Vedanta-Foxconn venture collapsed.
Intel is reportedly preparing to slash over 20% of its workforce as part of a broader restructuring effort under new CEO Lip-Bu Tan. The move aims to streamline operations, reduce bureaucratic inefficiencies, and refocus on an engineering-driven culture. This follows previous job cuts and is driven by high costs, shrinking margins, and a strategic pivot to AI chips.
Taiwan Semiconductor Manufacturing (TSMC) is under U.S. investigation for potentially violating export controls by supplying chips that ended up in Huawei's AI processors. The U.S. Department of Commerce is examining TSMC's dealings with Sophgo, a Chinese design company, with a possible penalty exceeding $1 billion. This situation strains U.S.-Taiwan relations amid trade renegotiations and increased scrutiny of export violations.
U.S. tariffs on Chinese imports could increase iPhone prices significantly. Apple faces a choice: absorb the costs or pass them on to consumers. Analysts predict price hikes up to 43%, potentially raising the iPhone 16's cost to $1,142. This could impact demand, especially as iPhone sales have been sluggish due to unimpressive AI features.