-- OmniVision Integrated Circuits (SHA:603501), formerly Will Semiconductor, posted first-quarter attributable net profit of 502.9 million yuan, down 42% from 866.0 million yuan the previous year.
Earnings per share declined to 0.40 yuan from 0.72 yuan, according to a Thursday filing with the Shanghai bourse.
The semiconductor company's operating revenue ticked down 0.9% year over year to 6.41 billion yuan from 6.47 billion yuan.
Ireland's Supreme Court has allowed TikTok to continue transferring data from the European Union to China amid an appeal by the short video app against a regulatory order to halt the transfers due to privacy concerns, according to multiple media reports Thursday.In May, the Irish Data Protection Commission fined TikTok 530 million euros and ordered the app to suspend data transfers to China if the processing is not complied with in six months.Ireland's High Court implemented a stay on the fine and the data transfer ban, stating the risk to consumers is "limited and will be temporary," adding that the damage on TikTok would be "virtually impossible" to quantify.The Supreme Court said the stay should remain until Ireland's High Court renders judgment in the appeal against the penalties, Reuters reported Thursday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The U.S. Federal Communications Commission voted unanimously to advance a proposal banning all Chinese labs from testing U.S.-bound electronic devices such as smartphones and computers, Reuters reported Thursday.Currently, about 75% of U.S. electronics are tested in China, according to the report. The plan would fast-track approval for devices tested in U.S. labs or allied nations.In a separate vote, the FCC moved to bar China Mobile (SHA:600941, HKG:80941), China Telecom (SHA:601728, HKG:0728) and China Unicom (HKG:0762) from operating U.S. data centers, Reuters wrote.The agency is also considering blocking interconnection with companies linked to national security risks, including Huawei and ZTE (SHE:000063, HKG:0763), according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Reserve Bank of Australia is expected to increase its cash rate to 4.35% at its May 5 policy meeting, which would mark the third consecutive hike of 25 basis points, according to a Reuters poll of economists published Friday.More than a third of the economists surveyed now expect the rate to hit at least 4.6% within the year, compared with none in a survey conducted in March, Reuters reported.The central bank started raising borrowing costs in early February after inflation stayed above its 2% to 3% target range since the middle of 2025.If it increases the rate again on May 5, the move would fully reverse rate cuts made last year, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)