Technology News (Reuters)

China is ready to put U.S. companies in an "unreliable entity list," as part of countermeasures against Washington's move to block shipments of semiconductors to Huawei Technologies, the Global Times reported on Friday.

Taiwan Semiconductor Manufacturing Co Ltd , the biggest contract chipmaker, said it plans to build a $12 billion factory in Arizona in an apparent win for the Trump administration's efforts to wrestle global tech supply chains back from China.

Chipmaker Taiwan Semiconductor Manufacturing Co's $12 billion investment in the United States will increase U.S. economic independence from China, Secretary of State Mike Pompeo said in a statement early on Friday.

The U.S. Department of Commerce on Friday announced that it was extending the Temporary General License that allows certain transactions with Huawei Technologies Co Ltd for another 90 days.

The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action that could ramp up tensions with China.

Foxconn's first-quarter profit plunged to its lowest in two decades, all but wiped out, after the coronavirus pandemic forced the Taiwanese firm to suspend manufacturing operations in China and knocked demand from customers including Apple Inc .

Japan's Rakuten Inc said on Friday the launch of its 5G services planned for June has been delayed by three months due to disruption caused by the coronavirus outbreak.

Germany's financial watchdog BaFin said it has no plans to ban short-selling in payments company Wirecard even as hedge funds increased their bets speculating on a fall in the company's share price.

Taiwan's Foxconn posted an almost 90% drop in first-quarter profit on Friday, as the coronavirus pandemic disrupted production and hit demand from Apple Inc and other major clients.

Singapore state investor Temasek Holdings has joined the Facebook-backed Libra digital currency project which has faced intense scrutiny from global regulators worried its launch could erode national control over money.

Taiwan Semiconductor Manufacturing Co Ltd, the world's biggest contract manufacturer of computer chips, on Friday announced plans to build an approximately $12 billion advanced chip factory in Arizona.

The We Company, owner of WeWork, said on Thursday that for the first time quarterly revenue surpassed $1 billion and cash burn improved 60% sequentially, but the money-losing shared office operator did not mention profitability in an email to employees that was reviewed by Reuters.

The We Company, owner of WeWork, said its first-quarter free cash outflow grew 60% sequentially, according to an email the company's chief financial officer sent to employees on Thursday and reviewed by Reuters.

Electric car maker Tesla Inc plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China later this year or early next that it expects will bring the cost of electric vehicles in line with gasoline models, and allow EV batteries to have second and third lives in the electric power grid.

Fortnite-creator Epic Games' digital videogame store was down on Thursday as it recorded huge traffic after reports that it was giving the premium edition of "Grand Theft Auto V" for free.

Satellite operator Intelsat SA said late on Wednesday that it filed for Chapter 11 bankruptcy protection, making it the latest casualty of severe business disruptions caused by the COVID-19 pandemic.

The United States on Thursday condemned attempts by China-linked "cyber actors and non-traditional collectors affiliated" to steal U.S. intellectual property and data related to coronavirus research, U.S. Secretary of State Mike Pompeo said.

Amazon Inc 's video game live-streaming platform Twitch is forming an advisory council of experienced users, online safety experts and anti-bullying advocates to help improve safety on the site, Twitch said in a blog post on Thursday.

France will tax big digital businesses this year whether there is progress or not towards an international deal on a levy, its finance minister said on Thursday, adding such a tax had never been more legitimate or more necessary.

Technologists and health officials around the world are racing to develop smartphone apps to trace who has been in contact with carriers of the novel coronavirus.