Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
JPMorgan Cuts Gold Price Forecast, Sees Bullion Reaching $4,500 by End of 2026 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation 
Japan Signals Readiness to Act on Yen as Intervention Speculation Grows 
Russia Stocks End Flat at Three-Year Low as MOEX Index Stalls, Gold Prices Climb 
Oil Prices Steady as U.S.-Iran Talks Ease Supply Fears Ahead of Holiday Weekend 
Dollar Rebounds as Euro, Pound Slip Ahead of Fed Minutes, Yen Near Intervention Zone 
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Lockheed Martin Emerges as Frontrunner to Acquire Ultra Maritime in $3.5 Billion Defense Deal 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
China Services PMI Beats Forecasts as Strong Demand Supports June Growth 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) vowed to increase auto chip production capacity and make the process more efficient, amid a global shortage that has hampered car production.
According to TSMC, its current production capacity is full but had assured that it will cooperate with the government of Taiwan to regard automotive chips as a primary application.
TSMC added that it is moving some of its customers' mature nodes to more advanced nodes, where they have a better capacity to support.
German Economy Minister Peter Altmaier has asked Taiwan's Economy Minister Wang Mei-hua to persuade Taiwanese manufacturers to help solve the shortage of auto semiconductor chip, which is hampering its recovery from the pandemic.
The shortage has affected Volkswagen, Ford Motor Co, Subaru Corp, Toyota Motor Corp, Nissan Motor Co Ltd, Fiat Chrysler Automobiles, and other carmakers.
Taiwan's Economic Ministry had also received requests from both the US and the EU through “diplomatic channels” late last year, as well as from Japan this year.
A senior official at Japan’s Ministry of Economy, Trade, and Industry revealed that Japan’s auto manufacturers’ association was already in touch with TSMC.
Taiwan's ministry has also reached out to Japan’s de facto embassy in Taipei for their support in those talks.
A senior Taiwan government official noted that with the matter being mainly a private-sector exchange, governments are limited on what they can do.
In the fourth quarter, sales for TSMC’s auto chips soared 27 percent from the previous quarter, but only accounted for 3 percent of quarterly sales.
