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Will Biden kill Samsung?

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Samsung is already struggling with micro chip supply issues. Will Biden make the problem worse?

 
A chip glut continues to drive large losses in Samsung business despite supply cuts, as its June-quarter profits are expected to slump 96% year-on-year to the lowest in more than 14 years.

The world’s largest manufacturer of memory chips, smartphones and TVs likely lost 555 billion won ($427 million) in the April-June period.

In that case, Samsung Electronics would report its lowest profit since the fourth quarter of 2008, when it reported an operating loss of approximately 740 billion won. In the April-June quarter of last year, the operating profit was 14.1 trillion won.

Despite lower memory chip prices and lower inventory values, its chip division, traditionally its biggest earner, likely reported quarterly losses of around 3 trillion to 4 trillion won.

President Biden is looking to bring greater chip manufacturing to the U.S. which could further disrupt supply chains for the South Korean company. #samsung #micro chips #biden #featured

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Finance expert empowers his social audience with accessible wealth tips

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The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

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It takes a village: coordinated financial teams prove paramount to maximising wealth

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The pursuit of wealth is often faced by significant challenges including debt, lifestyle costs, and burnout – so what methods can help overcome these challenges?

Maximising financial opportunities involves a suite of tasks, from leveraging favourable loan rates, strategic tax planning, and coordinated financial advising.

Mark Wyld from MW Wealth joins to discuss more. #featured

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Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

#featured

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