President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Samsung Electronics is producing chips for a Chinese company to mine cryptocurrencies and it expects this to boost earnings this year.
The South Korean technology giant has a division within its semiconductor business called Foundry. It builds chipsets for other companies.
Samsung said in its fourth quarter earnings Wednesday that it will "benefit from cryptocurrrency demand increase" in the semiconductor arm. It follows a report in local South Korean media on Tuesday, in a which a spokesperson confirmed it was making hardware designed for cryptocurrency mining.
"We are making progress with our foundry business that supplies to a virtual money mining company in China," a Samsung spokesperson told The Bell.
"It is in the beginning stage so the proportion of profit from the overall foundry business is small yet."
Mining is a process that requires super computers to solve complex mathematical problems in order to validate a transaction on the bitcoin network. It requires specialist hardware and chipsets. It is this that Samsung can make.
The firm's semiconductor division has propelled profits and helped boost shares.
Samsung said on an earnings call Wednesday that it expects its Foundry arm to be "number two" in the business. Taiwan's TSMC is currently number one in contract manufacturing of chips.