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World’s most valuable chipmaker Taiwan Semiconductor to set up third facility in Arizona using funding from Biden policyBusiness live – latest updatesTaiwan Semiconductor Manufacturing Company is to build its most advanced chips in Arizona after receiving a pledge of as much as $11.6bn in US government subsidy as part of Joe Biden’s efforts to attract computer chip production.TSMC, the world’s most valuable chipmaker, says...

Former FTX CEO faces up to 100 years in prison should the judge hand out the harshest penaltySam Bankman-Fried, once the CEO of FTX and a billionaire wunderkind of the cryptocurrency world, will be sentenced to prison time on Thursday in New York City.Should the judge in his case impose the harshest penalty allowed, the 32-year-old would face more than 100 years and die...

Rides to stadiums for music tours and sports events grew more than 35% in 2023 as company underwent an aggressive restructureLyft beat estimates for fourth-quarter profits on Tuesday and said it would generate positive free cashflow for the first time in 2024, as the ride-share platform reaps the benefits of heavy cost-cutting.Company shares surged nearly 60% in extended trading but erased a third of...

Facebook’s parent company to pay out to shareholders as it reports $40bn revenues for final quarterMeta revenue soars as it pivots to AIMark Zuckerberg, the chief executive of Meta, the parent company of Facebook, Instagram and WhatsApp, is expected to receive $700m (£549m) a year in dividends.On Thursday, Meta announced it would pay its first-ever quarterly dividend to investors since Facebook floated on the...

Former chief operating officer was lead architect of Facebook’s digital advertising-driven business modelSheryl Sandberg is to step down from the board of Facebook’s parent company, Meta, nearly two years after quitting her executive role at the business.Sandberg was the lead architect of Facebook’s digital advertising-driven business model as Meta’s chief operating officer. Continue reading...

iPhone maker ends South Korean rival’s 12-year lead, as Xiaomi, Honor and Google divide Android marketApple has overtaken Samsung as the world’s top smartphone seller.The US technology company’s iPhone for the first time became the world’s biggest selling smartphone after its South Korean rival’s 12-year run as leader, data showed. Continue reading...