ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
IBM Nears $11 Billion Deal to Acquire Confluent in Major AI and Data Push 
Taiwan Opposition Criticizes Plan to Block Chinese App Rednote Over Security Concerns 
Adobe Strengthens AI Strategy Ahead of Q4 Earnings, Says Stifel 
Nvidia Develops New Location-Verification Technology for AI Chips 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
LG Innotek Co. posted a net income of 979.8 billion won in 2022, up 10 percent on-year, due to robust sales of high-value products and growing demand from automotive components.
The company, an affiliate of LG group and Apple’s largest optics partner, posted an operating profit of 1.27 trillion won last year, slightly high than its operating income of 1.26 trillion in 2021.
Annual revenue rose 31.1 percent on-year to 19.58 trillion won last year.
LG Innotek’s businesses range from core components for mobile and automotive displays to semiconductors and smart products.
However, the company suffered a 22.3 percent on-year decline in its net income to come in at 203.9 billion won, due to its major customers cutting back on production amid China’s prolonged COVID-19 lockdowns and global economic slowdown.
It suffered a 60 percent on-year decline in operating profit in the fourth quarter, at 170 billion won, while its revenue rose 14.4 percent to 6.54 trillion won over the cited period.
