Technology

The Zacks Electronics - Miscellaneous Products industry is currently navigating a challenging landscape marked by macroeconomic headwinds, high inventory levels, and rising interest rates. These factors are impacting semiconductor capital expenditures, leading to short-term difficulties for industry participants.

The National Samsung Electronics Union (NSEU), comprising about 30,000 members, has decided to continue their strike indefinitely in South Korea, demanding better pay and benefits. The strike, which began on Monday, has disrupted production in certain chip lines, with the union seeking to be treated as an equal partner in negotiations with the management of Samsung Electronics.

The Rajya Sabha delved into sensitive topics, with discussions on the Shah Commission report investigating the Emergency period's excesses and concerns over alleged state-sponsored spyware attacks. Meanwhile, the Lok Sabha faced disruptions due to protests sparked by remarks made by a BJP leader and allegations of corruption.

Following a global IT outage that affected approximately 8.5 million computers, cybersecurity firm CrowdStrike offered $US10 UberEats gift cards to teammates and partners who assisted during the crisis. However, the vouchers were deemed ineligible by Uber due to high usage rates, causing them to be blocked and flagged for potential fraud.

Amazon India is reportedly in talks to acquire a stake in Swiggy's quick commerce business, Instamart, as the e-commerce giant seeks to expand its presence in the fast-growing online grocery market. The potential deal, which could involve a pre-IPO placement or a complete buyout of Instamart, faces several roadblocks, including the complex structure of the transaction and Swiggy's reluctance to sell only its quick commerce business.