Huawei produced a very advanced chip based on US tech
Huawei Technologies and its partner, SMIC, have crafted an advanced chip in China using American technology. This chip, pivotal for Huawei's Mate 60 Pro smartphone, showcases China's progress in semiconductor manufacturing but also reveals reliance on foreign tech like gear from Applied Materials and Lam Research. Despite efforts towards self-sufficiency, China's tech giants still lean on overseas expertise for cutting-edge production. Amidst US trade curbs aimed at limiting China's access to such crucial technology, this development has stirred both admiration and concern, highlighting the ongoing tussle in global tech dominance.
Mondi to buy DS Smith for £5 billion
Mondi Plc has agreed to purchase DS Smith Plc for £5.1 billion, setting the stage to become one of the largest packaging manufacturers globally. This all-stock transaction offers DS Smith shareholders a 33% premium over their stock's price from early February. The merger aims to bring cost savings and leverage increased scale within the rapidly consolidating packaging sector. Despite a drop in pandemic-driven demand, the combined entity, with Mondi shareholders owning 54%, is poised for significant influence in the market, especially against competitors like Smurfit Kappa. DS Smith, known for its extensive range of packaging solutions, and Mondi, with its South African origins, are preparing to formalize this deal by April 4.
Regional banks face big hurdles a year after SVB collapse
A year has flown by since the collapse of Silicon Valley Bank (SVB), and regional banks in the US are still finding their footing amidst challenges like rising deposit costs and the tricky terrain of office-building loans. Last year's bank failures shone a light on the need for tighter risk management and better liquidity planning, especially with the Federal Reserve's interest rate hikes in the mix. Despite these hurdles, there's a silver lining as the industry works to strengthen its liquidity and prepare for future stresses. Plus, there's been a bit of a shuffle in depositors' preferences, with some returning to smaller lenders after initially flocking to bigger banks for safety. Meanwhile, the sector keeps a wary eye on commercial real estate loans and the ever-present need for careful management in these uncertain times.
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