Opinion: Micron earnings suggest the chip downturn could be worse than Wall Street expects

Micron Technology Inc. executives warned about a semiconductor downturn in late June, but now say that a “sharp and sudden” drop in demand exceeded even those expectations, suggesting the current chip glut could get a lot worse. Micron MU, -1.94% reported a worse-than-expected fiscal fourth quarter Thursday, with revenue plunging 23% from last year, but … Read more

Dorsey Tried to Add Musk to Twitter’s Board Well Before Deal

In another message, Dorsey wrote “back when we had the activist come in, I tried my hardest to get you on our board, and our board said no. That’s about the time I decided I needed to work to leave, as hard as it was for me.” Dorsey said Twitter’s board is “risk averse” and … Read more

US Redoubles Efforts to End Dependence on Russian Nuclear Fuel

“We are going to get Congressional support in a bipartisan way for us to make our own fuel cycle supply chain independent, certainly of Russia,” Granholm, 63, said in an interview at the International Atomic Energy Agency in Vienna. “We’ve got to make this happen for our own independence and national security.”

Porsche Rises in Landmark IPO Weathering Tough Markets

Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more

Apple, CarMax, Bed Bath & Beyond and more

Check out the companies making headlines before the bell: Apple (AAPL) – Apple lost 2.2% in the premarket after BofA Securities downgraded it to neutral from buy. BofA said Apple has held up relatively well in a down market, but it expects a negative impact on the company from weakening consumer demand. CarMax (KMX) – … Read more

Kremlin will annex 4 regions of Ukraine on Friday

KYIV, Ukraine — Russia confirmed on Thursday it will formally annex parts of Ukraine where occupied areas held Kremlin-orchestrated “referendums” on living under Moscow’s rule that the Ukrainian government and the West denounced as illegal and rigged. Russian President Vladimir Putin will attend a ceremony on Friday in the Kremlin when four regions of Ukraine … Read more

4th leak reported on Nord Stream pipelines in Baltic Sea

STOCKHOLM — A fourth leak on the Nord Stream pipelines has been reported off southern Sweden, the Swedish news agency said Thursday. Sweden’s coast guards told news agency TT that they have a vessel on the site of the leak, off Sweden. All four detected leaks are in international waters, two near Sweden and two … Read more

Vestas launches ‘world’s tallest onshore tower for wind turbines’

A Vestas wind turbine photographed in Denmark. The company said Tuesday it would launch an onshore wind turbine tower with a hub height of 199 meters. Jonas Walzberg | Picture Alliance | Getty Images Danish firm Vestas said Tuesday it was launching an onshore wind turbine tower with a hub height measuring 199 meters (just … Read more

Hurricane Ian’s Damages Are Forecast to Be Worse Than 1992’s Andrew

Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration.