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Shenanigans

ST Becomes A Farce

Earlier today, the French unions showed a similar disdain for the 40% dividend cut set by ST, as was shown yesterday by France’s economics minister. “We demand a total suspension of the payment of dividends to devote all the resources of the company to a strong revival of investment in R & D and in factories,” said Eric Potard, CFDT ...

French Economics Minister Slams ST Management

ST announced a quarterly dividend of 0.06 eurocents which was 40% down on the last quarterly divi of 0.10 eurocents. Recently the French unions criticised ST management for paying out too much in divis while depriving the company of necessary investment. The dividend policy is designed to keep the share price up. Today France’s Economics Minister Emanuel Macron said that ...

Intel Lay-Off Letters Spark Rio Rancho Closure Rumour

According to the Albuquerque TV station KOAT there are rumours going around that Intel will close its Rio Rancho fab site in New Mexico. The rumours have arisen because, in the letters sent to some employees notifying them of their ‘involuntary separation’, it states that the reason being given is ‘site closure or consolidation’. When laid off workers have asked ...

Roll Up, Roll Up To Bid For Intel’s Investments

First bids for Intel Capital’s VC assets are expected next month, reports Bloomberg. It is expected that one buyer will bag up the lot. They are valued at $1 billion. The reason for the sale, it it is being said, is to reduce Intel’s debt of $25 billion which is off-set by cash of $15 billion. It is in the ...

Tsinghua Adds Marvell Stake To Lattice and Imagination

While Tsinghua was buying it’s 3% stake in Imagination earlier this month, it had already bagged up a stake in Marvell, a May 2nd SEC filing reveals. The size of the Marvell stake is not stated but It must be at least 5% which is the level required for disclosure under SEC rules. Last month Tsinghua bought a 6% stake ...

Mitsubishi Motors Falls To France

Japan’s corporate elite are falling like flies. Sharp falls to Foxconn, now Mitsubishi Motors, Japan’s 6th biggest car-maker, falls to French-controlled Renault-Nissan. The Renault-Nissan thing is a curious relationship in which Renault has 43.4% of Nissan’s shares – all fully voting, while Nissan has 15% of Renault’s shares – all non-voting. This gives the French control. And now they have ...

Sharp Gets New CEO

The new head of Sharp has been chosen – assuming that shareholders approve a share isuue to facilitate Foxconn’s takeover of the company. Sharp’s shareholders have to agree the share arrangements at a meeting at the end of June which will transfer to Foxconn a 66% stake in Sharp. If that meeting is accomplished successfully then, when Foxconn pays the ...

Intel Severance Terms Laid Out

The 12,000 Intel employees being laid off will get at least eight weeks pay, some long-time employees will get a year’s pay, a proportion of of their bonuses plus at least six months health insurance, reports The Oregonian which has seen a copy of an internal Intel memo. However there is steel in Intel’s proposals – if enough workers don’t ...

Tsinghua rebuffed again

Poor old Tsinghua has had another investment bid rejected – this time by the Taiwan assembly house SPIL (Siliconware Precision Industries). Tsinghua had offered to buy 25% of SPIL for $600 million. The sale to Tsinghua would have thwarted a bid by fellow Taiwanese assembly company ASE to take over SPIL. The Taiwan Fair Trade Commission is currently considering two ...

Here’s Trouble

Here’s trouble: a hovering, tracking drone with a 13MP forward-looking camera and a 3MP downward-looking camera. Beijing start-up Zero Zero Robotics has raised $25 million to mass-manufacture a drone called The Hover Camera. It can hover or follow someone, or something, around. Zero Zero’s founders are two Stanford PhD graduates who raised an initial $1.7 million in angel funding within ...