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Chinese chip giant SMIC to delist from NYSE following Huawei ban

first_imgAnother Chinese tech giant is withdrawing from the US, voluntarily delisting from the New York Stock Exchange. CBS/iStockphoto China’s largest chipmaker plans to delist from the New York Stock Exchange.Semiconductor Manufacturing International Corporation (SMIC) cited limited trading volumes in the US in comparison to the rest of the world as the reason for delisting, according to the South China Morning post on Friday.SMIC also said “the significant administrative burden and costs of maintaining the listing” on the NYSE were reasons for withdrawing.SMIC, which provides integrated circuit foundry and tech services on process nodes from 0.35 micron to 28 nanometer, said it will file the form to delist on June 3, with its last day of trading to be around June 13.While its headquarters are in Shanghai, SMIC also has labs throughout Beijing, Tianjin, Shenzhen, Jiangyin and Italy. It also has offices in the US, Europe, Japan, Taiwan and Hong Kong.The decision to delist follows Chinese technology compatriot Huawei being blacklisted by the US last week, and President Donald Trump signing an executive order essentially banning the tech giant following national security concerns that Huawei had close ties with the Chinese government amid the US-China trade war.SMIC didn’t immediately respond to a request for comment, but told CNBC that its decision to delist was not related to the US-China trade deal.”SMIC has been considering this migration for a long time and it has nothing to do with the trade war and Huawei incident,” a SMIC spokesperson reportedly told CNBC.”The migration requires a long preparation and timing has coincided with the current trade rhetoric, which may lead to misconceptions.” Share your voice Mobile Phones Politics 4:59 Now playing: Watch this: 0center_img Post a comment What is going on between Huawei and the US? Tags Huawei Donald Trumplast_img read more

Avengers Endgame full Telugu movie leaked online Will its free download affect

first_imgAvengers: Endgame movie reviewTwitterThe full Telugu movie of Avengers: Endgame has been leaked online hours after its release in theatres. The free download of its pirated copy is set to take a toll on its collection at the box office.Avengers: Endgame is the latest and last film in the Avengers series, the American superhero film franchise based on the Marvel Comics superhero team. The first three instalments were dubbed and released in Telugu with the same title and they have become massive hits with the audience in the Telugu states.Avengers: Endgame, which is the 22nd film in the Marvel Cinematic Universe (MCU), marks the ended of the Avengers film series, which has created a lot of curiosity and hype for the fourth instalment. As usual, the makers have dubbed and released it in Telugu on April 26 in bid to cash in the popularity of the franchise in the state.The screening of Avengers: Endgame began in several centres across the Telugu states in the wee hours of the Telugu states. But some miscreants have allegedly leaked the full movie on the internet for free download soon after the regular morning show got over. They released HQ HDCAM – HQ Line Audio print, which spread to other torrent sites within no time, enabling some viewers to watch it freely. Avengers: EndgameTwitterA miscreants’ gang, which is known for its notorious activities online, allegedly record the complete Telugu film and Avengers: Endgame. This gang’s website offers seven different prints of the full movie ranging from 2.8 GB to 200 MB for free download. Since these are theatre prints, their audio and video quality will not be good.Avengers: Endgame is an action-adventure fantasy thriller movie. It is a 3D film and a lot of VFX works make it a visual treat. Moreover, the background score plays an important role in making it an ethereal experience. But its pirated copy lacks both these features, there will be a lot of disturbance in picturisation and audio quality. It should better be watched in the cinema to get the real of the movie.In fact, the full English movie of Avengers: Endgame was leaked on the internet a week before it hit screens across the world. It has freely available on many torrent site for the last one week. Yet there was a massive amount of advance booking for the film in the Telugu states. Avengers: EndgameTwitterHowever, Avengers: Endgame has been released only in multiplexes, but it is not available in single screens, which are mostly located in suburban areas. The audience, who watch the film in single screens, may resort to downloading the full movie from torrents, which may take a toll on its collection.Avengers: Endgame has been directed by Anthony Russo and Joe Russo. The film features an ensemble cast of Robert Downey Jr, Chris Evans, Mark Ruffalo, Chris Hemsworth, Scarlett Johansson, Jeremy Renner, Don Cheadle, Paul Rudd, Brie Larson, Karen Gillan, Danai Gurira, Bradley Cooper, and Josh Brolin.last_img read more

Wipro Q3 earnings in focus after upbeat Infosys results

first_imgWith Infosys’ Q3 earnings beating the Street’s estimates, the focus now turns to Wipro results, which will be released on 18 January.While it is widely expected that Wipro — India’s third largest IT firm — will not be able to spring any surprise in its revenue growth for the December quarter, investors may look for impact of Chennai floods on its income.India’s third largest IT firm Wipro also gave a similar warning about its Q3 earnings following floods in Chennai. The company had said that increase in costs due to deployment of business continuity plans would impact revenues and operating margins for the quarter ended December 2015.The Bengaluru-based IT giant is expected to post a 0.5% growth in dollar revenue for the October-December quarter on a sequential basis, according to an analysts’ poll conducted by CNBC-TV18.Wipro’s dollar revenue stood at $1,831.9 million in the second quarter of the current fiscal year.In constant currency terms, dollar revenue is likely to come at around 1-1.2% against guidance of 0.5-2.5% ($1841-1878 million), due to Chennai floods’ impact witnessed in December last year.Wipro has a headcount of about 22,000 people in its facilities in Chennai.”Revenues from our IT Services business are expected to be in the previously communicated range of $1,841 million to $1,878 million; However, we expect revenues to be in the lower half of the guidance range,” the company had said in the statement.Analysts expect the acquisition of Designit to slightly contribute to Wipro’s revenues in the third quarter. Wipro had acquired Designit, a Denmark-based global strategic design firm, in July last year to improve its income from the emerging digital vertical.In rupee terms, Wipro’s Q3 revenue is expected to increase by 2.7% to Rs 12,371 crore compared to Rs 12,042.8 crore in the September quarter.However, a depreciation in rupee during the quarter is expected to partly offset the impact of Chennai floods on its margins.last_img read more