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November 26th - TSMCs annual supply chain forum was held on the 25th. Chairman C.C. Wei mentioned that there is insufficient capacity for advanced process technologies. To strengthen its layout, the market expects that TSMC will simultaneously build or expand 10 wafer fabs globally next year, with supply chain support being the most important factor. Analysts predict that TSMCs capital expenditure will reach US$50 billion in the new year.On November 26, the following conditions were met: (i) the minimum public notice period was reached; (ii) the dishonest behavior was corrected and the obligations stipulated in the administrative penalties, abnormal list or serious dishonest entity list involved in the dishonest behavior were fully fulfilled; (iii) a public credit commitment was made, the content of which should include that the submitted materials are true and valid, and clearly state that the party is willing to bear the corresponding responsibility for violating the commitment; (iv) other conditions required by laws, administrative regulations and departmental rules.On November 26th, it was announced that the "Measures for the Management of Credit Repair," approved at the 25th meeting of the Commission on November 19th, 2025, will be implemented from April 1st, 2026. According to these measures, information on breaches of trust will be managed in categories based on their severity, generally divided into three categories: "minor," "general," and "serious." Different public disclosure periods will be set for each category according to the principle of proportionality between offense and penalty, with the disclosure period calculated from the date of the judicial or administrative documents determination. Minor breaches of trust will generally not be disclosed; however, if the industry regulatory authority deems it necessary, the disclosure period will not exceed three months, and the applicant can apply for credit repair once the legal responsibilities have been fulfilled. The minimum disclosure period for general breaches of trust is three months, and the maximum is one year. The minimum disclosure period for serious breaches of trust is one year, and the maximum is three years. Only after the minimum disclosure period expires can the credit subject apply for credit repair as stipulated. After the maximum disclosure period expires, the relevant information will automatically cease to be disclosed. Those who fail to correct their dishonest behavior or fully fulfill their relevant obligations after the maximum public notice period has expired will be dealt with in accordance with the relevant regulations of the industrys competent authority.Abu Dhabi National Oil and Gas Company: Signs $4 billion, 20-year gas supply agreement with EMSTEEL to support UAE industrial development.The Federal Aviation Administration (FAA) is investigating the Amazon MK30 drone that struck power lines in Waco, Texas last week.

Visa's earnings exceeds projections due to robust customer demand

Aria Thomas

Jul 27, 2022 10:44

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Visa Inc.'s quarterly earnings above analyst estimates on Tuesday, as solid consumer spending and a vacation boom throughout the majority of the United States translated into greater card spending.


After being confined to their homes due to a pandemic, pandemic-weary Americans are spending lavishly on vacation and other leisure activities, helping to keep the economy on track despite the inflationary attack.


In recent weeks, big U.S. banks like as JPMorgan Chase & Co (NYSE:JPM) and Citigroup Inc (NYSE:C) have emphasized the resilience of consumer spending amid an uncertain economic outlook, a bullish sign for card companies.


The revenue of the largest payments processor in the world climbed during the third quarter due to a 12 percent rise in payment volumes and a 40 percent increase in cross-border volumes. Cross-border travel volumes increased 16% compared to 2019.


Visa (NYSE:V) still receives its share, according to TouchdownMoney.com creator Scott Lieberman. "While a company like Walmart (NYSE:WMT) may suffer if consumers change their spending from higher-margin apparel to low-margin groceries, Visa (NYSE:V) still receives its share."


Lieberman, who covered the credit card industry for almost a decade, stated, "Visa stands to earn whether people purchase champagne in a bull market or beer in a recession."


Visa announced an adjusted net income of $1.98 per share, far more than the $1.75 per share that experts had predicted.


American Express (NYSE:AXP) boosted its annual revenue forecast on Friday as a consequence of record card usage, as did the results of the payments processor.