11.11.2024
USA apparently stops delivery of AI microchips from Taiwan to China + Bitcoin reaches new all-time high of $80,076 + Hannover Re expects even more profit despite hurricane series
Apparently, the US Department of Commerce has sent a letter with export restrictions to the chip manufacturer. This is not the first time that TSMC $TSM (+1,54%) has had to suspend deliveries. 10.11.2024 - 09:14 New York/Singapore. The USA has banned a Taiwanese manufacturer from exporting microchips for artificial intelligence applications to China. Taiwan Semiconductor Manufacturing (TSMC) will not be allowed to supply advanced chips to Chinese customers from Monday, a person familiar with the matter told Reuters. These chips are often used for AI programs. According to the insider, the US Department of Commerce has sent a letter to TSMC imposing export restrictions on chips with structures in the seven nanometer range, among other things. The US order comes a few weeks after TSMC informed the US Department that one of its chips was used in an AI processor from the Chinese company Huawei was found. However, Huawei is one of the companies that the US has imposed trade restrictions on. All sales of advanced technology goods to Huawei must therefore be licensed by the USA. TSMC has already suspended deliveries to the China-based chip designer Sophgo after the AI-enabled chip was discovered in the Huawei product. Informed circles had already told Reuters last month.
The Bitcoin $BTC (+0,96%) reached a new all-time high of $80.076 on Sunday night, German time, which means we are not that far away from the $100,000 that many investors are expecting. What do you think? Will we still reach it in 2024?
The world's third-largest reinsurer Hannover Re $HNR1 (+0%) is expecting higher profits this year despite the recent hurricane losses. Instead of at least 2.1 billion, the surplus should now amount to around 2.3 billion, the Dax-listed company announced in Hannover on Monday. For the coming year, outgoing CEO Jean-Jacques Henchoz and his successor Clemens Jungsthöfel have set themselves a target of around 2.4 billion euros. In the third quarter, the reinsurer earned significantly more than analysts had expected. The bottom line for the months of July to September was a profit of 663 million euros, 30 percent more than a year earlier, although flooding in Central and Central Europe cost the Group 225 million euros and hurricane "Helene" in the USA had a negative impact of 130 million euros. The consequences of hurricane "Milton" at the beginning of October are not likely to be reflected in Hannover Re's figures until the fourth quarter.
Monday: Stock market dates, economic data, quarterly figures
Stock market holiday US bond market (US stock market is open)
ex-dividend of individual stocks
ArcelorMittal EUR 0.25
Quarterly figures / company dates Europe
07:15 Stabilus | Hypoport Quarterly figures
07:30 Continental | Hannover Re | Salzgitter | Qbeyond Quarterly figures
08:00 Hawesko quarterly figures | Hannover Re PK | Direct Line Insurance Q3 sales
10:30 Stabilus Analyst Conference
12:30 Continental Analyst Conference
14:00 Hypoport Analyst Conference
No time specified:
- Federal Network Agency: Decision on letter postage Deutsche Post (later morning)
- Elmos Semiconductor Capital Markets Day
Economic data
- 00:50 JP: BoJ Current Account 9/24 | Trade Balance 9/24
- 08:30 DE: Real Estate Financiers Association VDP presents figures on real estate prices in the 3rd quarter
- 10:45 DE: Süddeutsche Zeitung, SZ economic summit, Berlin
- 11:30 DE: Government press conference, Berlin
