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The Samsung Electronics emblem is seen at its workplace constructing in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji
SEOUL, July 28 (Reuters) – Samsung Electronics Co Ltd (005930.KS) It warned that chip demand from smartphone and PC makers would weaken additional as individuals purchase much less, and extra resilient demand from server prospects may additionally see changes amid recession issues.
Whereas the world’s main smartphone and reminiscence chip maker posted its finest April-June working revenue since 2018 on robust demand for server chips, it stated its cell enterprise noticed weakening earnings amid geopolitical woes. , inflation issues, and better part and logistics prices. learn extra
“Server (chip demand) is much less affected by macro points… But when a world recession happens, server prospects may even have to regulate their stock,” Jin-man Han, govt vp of the Samsung’s reminiscence chip enterprise. to name.
“As a result of excessive uncertainty, we’re continually updating our forecast,” he added.
Previously Qualcomm Inc, based mostly in San Diego (QCOM.O) warned of a success to fourth-quarter gross sales from cooling smartphone demand, including to the refrain of voices warning of chip gross sales as red-hot inflation curbs client spending.
As well as, the Ukraine disaster and COVID-19 lockdowns in China, the world’s largest smartphone market, have worsened provide chain hurdles, forcing many phonemakers to chop chip orders. .
Samsung will reply to the uncertainty with a “versatile” deployment of short-term capital expenditures and a disciplined provide of chips to match demand, Han stated with out elaborating.
An analyst at Cape Funding & Securities, Park Sung-soon, stated he expects “capex cuts by Samsung and SK Hynix subsequent yr within the reminiscence chip enterprise.”
Samsung, nonetheless, was comparatively optimistic about smartphone demand within the second half, saying the corporate’s provide disruptions had principally been resolved and demand would stay flat and even see development of only one. digit.
Its objective is for foldable cellphone gross sales to overhaul these of its earlier flagship smartphone, the Galaxy Word, within the second half. It’s anticipated to current its newest brochures on August 10.
Samsung’s working revenue rose to 14.1 trillion gained ($10.8 billion) for the quarter ended June 30 from 12.57 trillion gained a yr earlier, its highest second-quarter revenue since 2018. and likewise barely greater than his personal estimate of 14 trillion gained.
The revenue included chip revenue of 9.98 trillion gained and cell enterprise revenue of two.62 trillion gained.
“Elementary demand for servers (reminiscence chips) will stay robust as investments in core infrastructure and new development areas akin to AI and 5G are anticipated to proceed to develop, specializing in main information middle corporations,” Samsung stated.
TSMC (2330.TW), the world’s largest contract chipmaker, earlier this month additionally touted demand for its high-tech chips utilized in information facilities. learn extra
Nevertheless, smaller rival SK Hynix 000660.KS stated on Wednesday that demand for server reminiscence chips is prone to decline within the second half as information middle prospects deplete their stock as they put together to the recession learn extra
Samsung’s April-June income rose 21% to 77.2 trillion gained.
A robust greenback additionally helped Samsung’s chip income, boosting its working revenue by about 1.3 trillion gained in comparison with the earlier quarter, the corporate stated.
Samsung’s chip gross sales are principally in {dollars}, whereas it studies earnings in Korean gained, so a agency greenback interprets to larger chip earnings.
Shares of the corporate rose 0.7% in afternoon buying and selling, versus a 1% rise within the broader market. (.KS11) and a 0.3% drop in shares of reminiscence chip rival SK Hynix.
Reporting by Joyce Lee and Heekyong Yang; Edited by Himani Sarkar
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ISTANBUL/KYIV, July 22 (Reuters) – Russia and Ukraine will signal an settlement on Friday to reopen Ukraine’s Black Sea ports for grain exports, Turkey and the United Nations stated, elevating hopes a disaster might be resolved. worldwide meals aggravated by the Russian invasion. relieved
Russia and Ukraine, each among the many world’s largest meals exporters, despatched their protection and infrastructure ministers respectively to Istanbul for a signing ceremony at 13:30 GMT, the 2 sides stated.
UN Secretary-Normal Antonio Guterres was anticipated to co-sign the deal, and Turkish President Tayyip Erdogan was anticipated to attend.
However preventing continued unabated in japanese Ukraine and, underscoring deep-seated enmity and distrust, a Kyiv presidential adviser stated he wouldn’t signal paperwork with Russia, solely aspect agreements on grain exports with the United Nations.
“In case of provocations, (there might be) an instantaneous navy response” by Ukraine, Mykhailo Podoloyak tweeted.
The blockade of the Russian Black Sea fleet has worsened international provide chain disruptions and, together with Western sanctions imposed on Moscow, stoked excessive inflation in meals and power costs since Russian forces invaded Ukraine. on February 24.
Full particulars of the deal weren’t instantly disclosed. However the Russian state information company TASS, citing an unnamed supply, stated three Ukrainian ports can be reopened, together with the largest export hub, Odessa.
Diplomats stated final week that particulars of the plan included Ukrainian ships guiding grain ships via mined port waters, with Turkey overseeing inspections of the ships to allay Russian considerations that they might smuggle weapons into Ukraine.
Some 20 million tons of grain are caught in silos in Odessa, and dozens of ships have been stranded by Moscow’s offensive.
Turkish Overseas Minister Mevlut Cavusoglu tweeted on Thursday that Friday’s assembly in Istanbul would mark “step one in resolving the present meals disaster.”
The US welcomed the deal and stated it was specializing in holding Russia accountable for its implementation.
Moscow has denied accountability for the worsening meals disaster, blaming as a substitute the chilling impact of Western sanctions for curbing its personal meals and fertilizer exports and Ukraine for undermining entry to its Black Sea ports.
The United Nations and Turkey have been working for 2 months to barter what Guterres known as a “bundle deal” to revive Ukraine’s Black Sea grain exports whereas facilitating fertilizer and grain shipments from Russia.
Russian Overseas Ministry spokeswoman Maria Zakharova stated the European Union had proposed enjoyable some earlier sanctions to shore up international meals safety. Moscow hoped that this is able to create the situations for unfettered exports of grain and fertilizers.
Cargo ships are docked on the Black Sea port of Odessa, Ukraine, November 4, 2016. REUTERS/Valentyn Ogirenko
Turkey, a NATO member that has good relations with each Russia and Ukraine, controls the straits that result in the Black Sea and has acted as a mediator on the grain subject.
Ukraine’s President Volodomyr Zelenskiy met with high brass on Thursday to debate arms provides and intensifying assaults towards the Russians. learn extra
“(We) agree that our forces have nice potential to advance into the battlefield and inflict important additional losses on the occupiers,” he stated in his video deal with.
There have been no main advances on the entrance since Russian forces seized the final two Ukrainian-held cities within the japanese province of Lugansk in late June and early July.
Russian forces are actually targeted on capturing your entire neighboring province of Donetsk on behalf of separatist proxies who’ve declared two breakaway mini-states overlaying the broader industrialized Donbas area.
In its morning replace, Ukraine’s basic employees stated Russian forces backed by heavy artillery have been nonetheless attempting to advance in the direction of the cities of Kramatorsk and Bakhmut and the Vuhlehirska thermal energy plant in Donetsk, however made no notable features.
Kyiv hopes that progressively rising provides of longer-range and extra correct Western weaponry, such because the US Excessive Mobility Artillery Rocket System (HIMARS), will allow it to battle again and recapture misplaced territories to the east and south. .
Russia’s Protection Ministry stated on Friday that its forces had destroyed 4 HIMARS programs between July 5 and July 20. Reuters was unable to confirm the declare.
Ukraine has accused the Russians of stepping up missile and rocket assaults on cities in current weeks in a deliberate try to terrorize its inhabitants.
Cities and villages have been devastated by Russian bombardment in the course of the battle, with some removed from the entrance line hit by missiles. Moscow denies intentionally taking pictures civilians and says all its targets are navy.
Nevertheless, there’s a excessive chance that Russia’s longer-range weaponry will miss its meant targets and trigger civilian casualties as a result of Moscow is more and more utilizing long-range air protection programs to make up for a scarcity of ground-attack missiles, based on intelligence. British navy.
Such air protection programs, outfitted with smaller warheads to shoot down plane and missiles, are unlikely to have the ability to penetrate hardened navy constructions on the bottom and their crews can have little coaching for such missions, Britain’s Ministry of Protection stated on Friday.
Russia says it’s finishing up a “particular navy operation” to demilitarize its neighbor and rid it of harmful nationalists.
Kyiv and the West say Russia is mounting an imperialist marketing campaign to win again a pro-Western neighbor that freed itself from Moscow rule when the Soviet Union collapsed in 1991.
Europe’s largest battle since World Warfare II has killed greater than 5,000 individuals, expelled greater than 6 million from Ukraine and left 8 million internally displaced, based on the United Nations.
Reuters bureau stories; written by Mark Heinrich; Edited by Stephen Coates and Nick Macfie
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]]>WASHINGTON, July 20 (Reuters) – The U.S. Justice Division on Wednesday unveiled a crackdown on $1.2 billion in well being care fraud, unsealing legal prices towards 36 defendants. for alleged fraudulent billing schemes associated to telemedicine, genetic and cardiovascular testing, and tools.
The legal prices, which had been unveiled in 13 federal districts between July 11 and 20, goal medical laboratory homeowners, entrepreneurs, medical professionals and telemedicine executives.
Prosecutors mentioned the schemes had been supposed to defraud Medicare of $1.2 billion, although precise losses are nearer to $440 million.
“The instances introduced at the moment embrace prices towards people who overtly used Medicare funds to buy luxurious objects, medical professionals who corruptly authorised checks and tools, and enterprise homeowners who submitted false and fraudulent claims for companies sufferers didn’t want. Kenneth Well mannered, chief of the division’s legal division, instructed Reuters in an announcement.
Individually, the Middle for Medicare Companies, a part of the US Division of Well being and Human Companies, took parallel administrative motion towards 52 corporations concerned in related schemes.
The suspected fraud schemes relate to older, well-known bribery and billing practices concentrating on the Medicare program, in addition to a burgeoning new fraudulent apply of “benefiting from sufferers’ worry of heart problems” by trick them into present process medically pointless heart problems screening, a Justice Division official instructed Reuters in an interview on Tuesday.
Billing for such cardiovascular genetic checks has skyrocketed up to now 12 months, Justice Division officers added, noting that a few of these checks are billed as a lot as $10,000 every, with claims typically paying as a lot as $8,000.
The official mentioned the whole quantity billed within the cardiovascular genetic testing fraud instances was $748 million, of which $223 million was paid. Nevertheless, these figures additionally embrace billing for genetic most cancers screening checks that had been additionally added.
Earlier than the pandemic, researchers centered on schemes associated to billing for pointless purchases of sturdy medical tools, reminiscent of crutches and walkers, in addition to genetic testing to find out the dangers of creating hereditary cancers.
in a particular report 2019Reuters reported that the US was investigating greater than 300 issues associated to genetic testing schemes, by which older individuals had been tricked into offering a cheek smear to find out their threat of creating most cancers.
The checks had been ordered by docs who in lots of instances had no medical relationship with the sufferers and had been despatched to laboratories. The checks had been then billed to Medicare.
One of many labs featured within the report. was later raided by federal brokers, as a part of the federal government’s crackdown on genetic testing fraud in a takedown dubbed Operation Double Helix.
Though telemedicine performed a job in earlier fraud schemes, its use has expanded enormously for the reason that pandemic, as US regulators relaxed sure guidelines to make telemedicine extra accessible to sufferers.
Since 2019, the division has charged greater than 200 defendants with telemedicine fraud and kickback schemes, representing a mixed alleged $10 billion in anticipated losses.
Reporting by Sarah N. Lynch; Edited by Scott Malone, Richard Pullin and Diane Craft
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]]>MOSCOW, Jul 20 (Reuters) – Russian gasoline flows by the Nord Stream 1 pipeline are prone to resume on time on Thursday after finishing scheduled upkeep, however beneath full capability, two Russian sources advised Reuters. conversant in export plans.
The pipeline, which accounts for greater than a 3rd of Russian pure gasoline exports to the European Union, was halted for ten days of annual upkeep on July 11.
The Russian sources, talking on situation of anonymity as a result of sensitivity of the problem, advised Reuters the pipeline was anticipated to renew operations on time, however at lower than its capability of some 160 million cubic meters (mm3) per day. .
Kremlin-controlled power big Gazprom (GAZP.MM)minimize gasoline exports through the path to 40% of capability final month, citing delays in returning a Siemens Power turbine. (ENR1n.DE) was serving in Canada.
“They (Gazprom) will return to ranges seen earlier than July 11,” one of many sources stated of anticipated gasoline volumes by Nord Stream 1 from Thursday.
The earlier month’s benchmark Dutch contract fell on the Reuters report that flows will resume on Thursday.
Earlier within the day, the contract was buying and selling increased after the Wall Road Journal reported that the European Fee didn’t anticipate the pipeline to restart after upkeep. learn extra
Gazprom and Nord Stream 1 didn’t reply to requests for touch upon Tuesday. Prior to now, Gazprom has restarted Nord Stream on schedule after upkeep.
Russian President Vladimir Putin stated on Wednesday that the capability of Nord Stream 1 could possibly be diminished because of issues with different pumping items, certainly one of which must be despatched for upkeep on July 26. Learn extra
Pipes on the landfall facility of the ‘Nord Stream 1’ gasoline pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke
Nord Stream 1, which runs over the Baltic Sea mattress to Germany, has been within the highlight since Russia despatched troops to Ukraine on February 24 in what Moscow describes as a “particular navy operation”.
The West has accused Russia, the world’s largest gasoline exporter and second largest provider of crude oil, of utilizing its power provides as a device of coercion.
Russia has refuted the accusations, saying it has been a dependable power provider.
Nonetheless, in a letter dated July 14, Gazprom stated it was retroactively declaring drive majeure on June 14 provides, a authorized clause which means it can not assure gasoline provides because of distinctive circumstances. learn extra
The Kommersant newspaper reported Monday, citing individuals conversant in the scenario, that Canada shipped the turbine wanted for Nord Stream 1 to Germany by airplane on July 17 after restore work was accomplished. learn extra
Siemens Power declined to remark.
One of many sources advised Reuters on Tuesday that the turbine was unlikely to be reinstalled earlier than July 21.
Germany’s economic system ministry stated on Monday it couldn’t present particulars on the whereabouts of the turbine.
Nonetheless, a ministry spokesman stated the turbine was a spare half for use solely from September, which means its absence couldn’t be the true motive for the drop in gasoline flows earlier than upkeep.
Data from Reuters bureaus, further reporting from Christoph Steitz in Frankfurt; edited by Barbara Lewis, Man Faulconbridge and Louise Heavens
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]]>LONDON/PARIS, July 19 (Reuters) – Firefighters in southwestern France struggled to comprise huge wildfires on Tuesday as Britain recorded the most popular temperature in its historical past, bending railway tracks and sparking grass fires in sweltering circumstances. Dry tinder round London.
Southern and western Germany and Belgium additionally braced for probably report temperatures as the warmth wave, which scientists blame on local weather change, moved north and east.
A wildfire fueled by robust winds swept by a mountainous space close to houses on the outskirts of the Greek capital, prompting authorities to order the evacuation of at the least one space.
Quite a few forest fires have been reported in Italy. One of many largest fires broke out on Monday evening within the hills of Massarosa, in Tuscany, and was nonetheless burning on Tuesday afternoon.
“The fireplace continues to devour the forests in a frightful approach because of the wind,” mentioned Tuscany Governor Eugenio Giani. He mentioned that 365 hectares (900 acres) of land had been destroyed.
Fires have been additionally reported in forests close to Rome, in addition to on the shores of Lake Orta north of Milan and close to the northeastern metropolis of Trieste, forcing authorities to shut a motorway and railway, with temperatures reaching will keep excessive.
A temperature of over 40C (104F) was provisionally recorded for the primary time in Britain, the Met Workplace mentioned.
Authorities have put Britain, which frequently struggles to keep up key transport companies when hit by sudden climate reminiscent of heavy snow or excessive winds, right into a “nationwide emergency” standing because of report temperatures.
Practice routes from London to the nation’s east and west coasts have been cancelled, energy corporations reported huge outages and usually busy metropolis facilities appeared quiet. Community Rail tweeted photographs exhibiting curves and kinks within the tracks.
East of the capital, a large hearth engulfed houses within the city of Wennington, with flames sweeping by neighboring fields and approaching a historic church. Elsewhere, massive areas of grass across the capital have been on hearth.
In southwestern France, the Gironde wine area skilled its largest wildfires in additional than 30 years and authorities mentioned a person had been detained on suspicion of arson.
The fires have unfold throughout 19,300 hectares (about 75 sq. miles) within the countryside surrounding Bordeaux since July 12, forcing a complete of 34,000 individuals to evacuate their houses.
Some 2,000 firefighters, supported by eight water bomber planes, have been battling the flames.
A view exhibits particles at a Dune du Pilat campsite destroyed by a significant hearth close to La Teste-de-Buch forest as forest fires proceed to rage within the Gironde area of southwestern France on July 19, 2022. REUTERS/Pascal Rossignol
“Regardless of assaults from the bottom and from the air, the scenario has not stabilized but,” the state prefecture mentioned, including that there have been no experiences of deaths or accidents.
With human-caused local weather change inflicting droughts, the variety of excessive wildfires is predicted to extend by 30% over the following 28 years, in accordance with a February 2022 UN report.
“We’re seeing extra frequent warmth waves, and the warmth waves are hotter than they’d have been with out local weather change,” Friederike Otto, senior lecturer in local weather sciences at Imperial School London, informed Reuters.
The impression of the warmth wave on well being has been within the highlight, with a specific give attention to the aged and susceptible.
“Individuals do not actually really feel like they need to drink quite a bit, so you will get dehydrated and it is actually harmful for older individuals,” mentioned deputy supervisor Annick Van Huylenbroeck, at a nursing dwelling in Grimbergen, north of Brussels.
Excessive nighttime temperatures are additionally hampering firefighting responses throughout Europe and worsening well being circumstances as nighttime hours fail to supply a cooling respite, consultants mentioned Tuesday. learn extra
In Italy, temperatures have been anticipated to achieve 40C throughout a swathe of the north and middle all through the week, in addition to within the southern heel of the Italian boot, Puglia, and the islands of Sardinia and Sicily.
5 cities have been positioned on the very best purple alert because of the warmth wave on Tuesday. The alert, which warns of great weather-related well being dangers, will cowl 9 cities on Wednesday and rise to 14 on Thursday, together with lots of Italy’s largest metropolitan areas, together with Rome, Milan and Florence.
Though the mercury dropped again to extra regular summer season ranges in Spain and Portugal, firefighters in each nations have been nonetheless battling a number of fires.
Greater than 30 wildfires continued to ravage components of Spain, with authorities paying particular consideration to 4 fires in Castilla y LeΓ³n and Galicia.
In Losacio, within the northwestern province of Zamora, the place two individuals have died and three have been significantly injured, greater than 6,000 individuals in 32 cities have been evacuated.
βThe drought impacts us very, very a lot. Needless to say it hasn’t rained for 5 or 6 months and a few individuals in these cities are aged, the properties aren’t effectively cleared and are stuffed with lots of vegetation,” mentioned Hanibal Pena, 69, who lives in Tabara, province of Zamora.
To date this 12 months, 70,000 hectares (173,000 acres) have burned in Spain, round double the common of the final decade, official information earlier than the warmth wave confirmed.
In neighboring Portugal, round 50 municipalities, primarily within the central and northern areas, nonetheless face “most threat” of forest fires, in accordance with the IPMA meteorological institute.
Further reporting by Marie-Louise Gumuchian in London, Catarina Demony in Lisbon, Dominique Vidalon in Paris and Renee Maltezou in Athens, Aleksandar Vasovic in Belgrade, Crispian Balmer in Rome, Bart Biesemans in Belgium; Edited by Nick Macfie, Gareth Jones, Bernadette Baum, Alexandra Hudson
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