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On August 12th, Omdia announced that it has revised its 2026 global semiconductor market revenue growth forecast to 94.1% year-over-year, driven by strong growth in the DRAM and NAND markets due to AI demand continuing to outpace global supply capacity. Memory IC revenue is expected to account for more than 50% of total global semiconductor revenue in 2026. Meanwhile, AI demand has exceeded the current chip manufacturing and packaging capabilities of the semiconductor industry, and bottlenecks in key areas such as high-bandwidth memory (HBM), advanced packaging, and advanced process technology capacity are expected to persist until at least 2027.The local governor said drone debris struck four industrial facilities in Russia’s Krasnodar region.The local governor said that last nights drone attack on Russias Krasnodar Krai resulted in multiple deaths and injuries, including children.Japanese Prime Minister Sanae Takaichi: Canadian crude oil arrived in Japan today, the first time since the deterioration of the situation in the Middle East.On August 12th, according to the Financial Times, Federal Reserve Chair Janet Collins stated that the war in Iran has exacerbated cost-of-living pressures, leaving many in the US struggling to make ends meet. She warned that the Fed may need to raise interest rates to curb inflation. Collins noted that businesses and households in the northeastern US are being squeezed by inflation, which has exceeded the central banks 2% target for over five years. She pointed out, "I hear about [prices] in almost every conversation (with businesses)." She added, "Among low- and middle-income households, I hear more and more about the challenges they face…like struggling to make ends meet. Energy prices are really unbearable, especially in our region." Collins, who currently has no voting rights on the FOMC, supported keeping interest rates unchanged in July, considering the current level "slightly contractionary" and stating that "this would allow them to expect a gradual and sustained decline in inflation." However, she indicated that she would be willing to support a rate hike as early as September if economic data suggests the need for one. She said, "I do think that economic conditions in the coming months may require a tighter policy, in which case I am prepared to raise interest rates."

Italy Investigates Other Options For TIM As Its Bid For A Network Wanes

Aria Thomas

Nov 29, 2022 11:46

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Telecom Italia (BIT:TLIT), a troubled former phone monopoly, would likely need extra options from the future Italian government, as a bid for its landline network by state lender CDP appears increasingly unlikely.


The multibillion-euro offer, which was championed by Mario Draghi's former administration, is part of a bigger push to combine TIM's network assets with those of smaller competitor Open Fiber to establish a unified broadband champion under the supervision of CDP.


Also crucial to TIM CEO Pietro Labriola's plan to break apart the struggling phone company in order to lower its 26 billion euro debt is an offer due on November 30.


Monday, a government source told Reuters that Italian Prime Minister Giorgia Meloni favors postponing the CDP's request.


Three sources previously stated that CDP was unlikely to reach the Wednesday deadline, while a fourth source reported that CDP had not yet scheduled a board meeting to consider an offer.


The offices of Meloni and the Treasury were slow to respond to requests for comment.


Friday, contrary to custom, Meloni transferred the government's broadband policy to cabinet undersecretary Alessio Butti. Butti has attacked the CDP's intentions for TIM in public.


Instead, Butti has encouraged CDP, which is owned by the Treasury, to purchase TIM in its entirety and then sell its service operations, including its Brazil-listed firm.


In response to Butti's suggestions, Economy Minister Giancarlo Giorgetti indicated last week that the government had "many opportunities" to assume control of TIM's network.


Analysts believe that establishing a new plan to integrate TIM and Open Fiber would take a minimum of one year, leaving TIM's future unknown at a time when rising interest rates increase the group's cash flow loss due to interest payments.


Existing cash supports TIM's debt commitments through mid-2024, and debt refinancing seems more challenging than in the past; thus, the window of opportunity to find a solution is closing. Intesa Sanpaolo (OTC:ISNPY) revealed the following in a research note.

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