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The Latest Breaking News from Nikkei Asia

Alibaba Downsizes Russia Joint Venture Workforce By 40% Amid Geopolitical, Regulatory Uncertainty

Alibaba Group Holding Limited's (NYSE:BABA) joint venture in Russia has laid off about 40% of employees, Nikkei Asia reports. It was not clear if there would be more layoffs after some of the laid-off staff chose to leave voluntarily and a few relocated, Reuters reports. Alibaba and Russian partners launched AliExpress Russia joint…

Here's Why TSMC Warned Against Price Hike For Second Time Within One Year

Here's Why TSMC Warned Against Price Hike For Second Time Within One Year

Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) has warned clients for the second time after August against its plans to raise prices, to beat inflation concerns, rising costs, and its expansion plans to counter the global supply crunch, Nikkei Asia reports. TSMC, the leading contract chipmaker, looks to raise prices by "single-digit percentages" across mature…

Toyota Plans 10% Production Cut In May: Nikkei Asia

Toyota Plans 10% Production Cut In May: Nikkei Asia

Toyota Motor Corp (NYSE:TM) has informed suppliers that it plans to reduce global production by 10% in May, Nikkei Asia reported. The report noted the company plans to produce 700,000 vehicles for the month of May. It manufactured 670,000 vehicles last May. The chip shortages have led the automaker to change its…

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Tesla Giga Shanghai Said To Remain Shut Amid COVID-19 Lockdowns

Tesla Inc’s (NASDAQ: TSLA) key manufacturing plant Giga Shanghai remained shut on Friday amid citywide lockdowns in China due to a recent spike in COVID-19 cases, Nikkei Asia

Itochu Acquires 70% Stake In Under Armour's Japan Distributor: Nikkei Asia

Trading house Itochu has agreed to acquire a majority stake in Under Armour Inc’s (NYSE:UAA) Japanese distributor, Dome, Nikkei Asia reported. Itochu is expected to own about 70% of Dome after completing the transactions, leaving Under Armour with a 30% stake. The report noted that Itochu and Under Armour are expected to manage the business…

Read Why TSMC's US Chip Plant Construction Falls Behind Schedule

Taiwan Semiconductor Manufacturing Co Ltd's (NYSE:TSM) advanced chip plant debut in the U.S. is three to six months behind schedule, Nikkei Asia reports. TSMC planned to move in chip production equipment by around September 2022 but decided to postpone to around February or March 2023. The deferral was mainly due to labor…

Foxconn: Lordstown Electric Pickups To Start Shipping In H2 2022

Foxconn chairman Young Liu tells Nikkei Asia that electric pickups made in cooperation with Lordstown Motors will begin shipping in the second half of 2022.

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