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Taiwan’s Foxconn to build three ancillary facilities as part of Wisconsin LCD campus

August 21, 2017 TAIPEI (Reuters) – Taiwanese electronics manufacturer Foxconn on Monday said it plans to build three facilities in the U.S. state of Wisconsin for operation as early as next year, as part of a campus housing a $10 billion liquid crystal display (LCD) factory due for 2020. Foxconn, which makes electronics under contract for clients such as Apple Inc , announced its $10 billion plan at the White House in July, saying the LCD plant would occupy 1,000 acres in the state’s south east. Foxconn, formally Hon Hai…

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bank Business cyber state Ukraine 

Ukraine central bank warns of new cyber-attack risk

August 18, 2017 By Natalia Zinets KIEV (Reuters) – The Ukrainian central bank said on Friday it had warned state-owned and private lenders of the appearance of new malware as security services said Ukraine faced cyber attacks like those that knocked out global systems in June. The June 27 attack, dubbed NotPetya, took down many Ukrainian government agencies and businesses, before spreading rapidly through corporate networks of multinationals with operations or suppliers in eastern Europe. Kiev’s central bank has since been working with the government-backed Computer Emergency Response Team (CERT)…

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CRRC HK Julie Zhu state Tech Top News 

China Unicom’s $12 billion ownership-reforms plan mired in confusion

August 18, 2017 By Julie Zhu and Sijia Jiang HONG KONG (Reuters) – Telecoms group China Unicom’s $11.7 billion ownership-reforms plan, billed as a model case for revitalizing Chinese state firms with private capital, remained under a cloud on Friday, with confusion about fundraising details persisting. The state-owned group had announced on Wednesday it was raising the funds via its Shanghai-listed unit from more than a dozen investors, including tech giants Alibaba Group , Tencent Holdings , and Baidu . But since then, China Unicom has taken down the announcement…

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Americans Business month policy state 

U.S. labor market tightening; autos weigh on manufacturing

August 17, 2017 By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay out a plan to start unwinding its massive bond portfolio. A weakening automobile sector is, however, adding a wrinkle to an otherwise brightening economic picture. Other data on Thursday showed manufacturing output fell in July as motor vehicle production tumbled. Auto manufacturers are cutting back production amid weak…

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Business state Taiwan Foxconn tax U.S. 

Audits show lax oversight by Wisconsin agency counting Foxconn jobs

August 11, 2017 By Dave McKinney CHICAGO (Reuters) – The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits. The deal to secure Foxconn’s proposed LCD screen plant announced late last month is one of the largest economic development agreements in U.S. history and counts President Donald Trump, who rode into office on promises of…

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Clint Roswell IBM Peter Rusthoven state Tech Top News 

IBM to appeal judge’s order to pay $78 million to Indiana

August 7, 2017 By Suzannah Gonzales (Reuters) – International Business Machines Corp said on Monday it will appeal an Indiana judge’s ruling that calls for the technology company to pay more than $78 million in damages to the state for failing to modernize the government’s welfare system. Marion Superior Court Judge Heather Welch ruled on Friday that Indiana was entitled to $128 million in damages for the breach of contract by the company. Welch also said IBM was entitled to nearly $50 million in damages for equipment fees and related…

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government Luis Guillermo Velez Mexico America Movil state Tech Top News 

Colombian tribunal fines Claro, Movistar over contract

July 26, 2017 BOGOTA (Reuters) – A Colombian tribunal on Tuesday ruled telephone companies Claro and Movistar must pay the government $1.55 billion for failing to meet contractual conditions for cellular services, a government official said. An arbitration court said the two companies failed to return installed networks and infrastructure as part of agreements to provide cellular phone service more than a decade ago, Luis Guillermo Velez, director of the government’s legal defense agency, told reporters. Claro, a unit of Mexico’s America Movil must pay $1.02 billion, and Movistar, part…

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Economy government report state Top News U.S. 

Medicaid, pension costs create budget complications for U.S. states: report

July 24, 2017 By Stephanie Kelly NEW YORK (Reuters) – A sluggish forecast for U.S. economic growth as well as an increase in U.S. states’ Medicaid and pension contribution costs is creating a budgetary squeeze in many state capitols, according to a research report issued by S&P Global Ratings on Monday. While the risk of a recession within the next 12 months has fallen into a 15-20 percent range from 20-25 percent, the rate of economic expansion “is expected to remain fairly anemic at 1.8 percent over the longer term…

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Business increase policy results state 

Wall St. set to open higher on earnings optimism

July 20, 2017 By Tanya Agrawal (Reuters) – U.S. stock indexes looked set to open higher on Thursday, a day after all three major indexes closed at record highs, as investors waited for earnings to sustain the rally in technology stocks. The S&P 500 tech sector , which has been the best performing sector this year, broke its previous record closing high that had held since March 2000 in the midst of the dot-com and Y2K tech stocks bubble. Microsoft , which will report results after the market close, was…

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Americans Business month state U.S. 

U.S. jobless claims fall to near five-month low

July 20, 2017 WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell more than expected last week, touching its lowest level in nearly five months, suggesting another month of strong job growth. Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 233,000 for the week ended July 15, the Labor Department said on Thursday. That was the lowest level since February, when claims fell to 227,000, which was the best reading since March 1973. Data for the prior week was revised to show 1,000…

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