Tag: reverse

China only produces 1% of critical litho chipmaking tools, exposing it to harsh US sanctions — investment in domestic toolmakers looks to reverse the trend

China wants to dominate global chip manufacturing, but its ambitions are dashed by the hard reality of its low domestic production rates. According to a graph from a Nikkei report, China’s domestic chipmaking tool manufacturers produce 20% of the tools the country uses for chipmaking, but it currently only has a production rate of 1% […]

China urges EU to reverse EV tariffs, Chery undeterred

By Liz Lee, Laurie Chen and Nick Carey BEIJING (Reuters) -Beijing on Thursday slammed EU tariffs on Chinese electric vehicles as protectionist behaviour even as the country’s top auto exporter said the duties would not derail its expansion plans for Europe, including making EVs in Spain this year. The reaction from China and others embroiled […]

Virgin Galactic shares sink after board approves reverse stock split

(Bloomberg) — Virgin Galactic Holdings Inc. shares tumbled after the company’s board of directors agreed to a 1-for-20 reverse stock split aimed at maintaining the stock’s listing on the New York Stock Exchange. Most Read from Bloomberg The Richard Branson-founded space tourism company proposed the reverse split in April after its stock had fallen below […]