Sultan Al Jaber, chief executive of the UAE’s Abu Dhabi National Oil Company (ADNOC) and president of this year’s COP28 climate summit gestures during an interview as part of the 7th Ministerial on Climate Action (MoCA) in Brussels on July 13, 2023. Francois Walschaerts | Afp | Getty Images United Nations representatives failed to secure a deal during late-night talks on how to implement a reparations fund for climate disaster recovery in developing nations. The ”loss and damage fund” would call on rich countries to finance the recovery of climate disasters that have wrecked developing nations and set them behind...

Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. Brendan McDermid | Reuters There is strong appetite among Chinese companies to list on U.S. stock exchanges, but these IPOs have become a more complicated process, according to Kobe Ge, the head of China at the New York Stock Exchange. Despite the negative impact last year from Covid-19 restrictions and U.S. regulatory uncertainty, many of those issues are now resolved and ”we still see very strong interest from Chinese businesses for listing...

Coinbase is confident that a U.S. bitcoin exchange-traded fund will be approved by the U.S. Securities and Exchange Commission, the company’s chief legal officer, Paul Grewal, told CNBC. ”I’m quite hopeful that these [ETF] applications will be granted, if only because they should be granted under the law,” Grewal said in an interview with CNBC’s Arjun Kharpal. The SEC was recently dealt a major court setback when a judge ruled that the regulator had no basis to deny digital asset management Grayscale’s bid to turn its huge GBTC bitcoin fund into an ETF. The SEC last week declined to appeal...

A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images Taiwan Semiconductor Manufacturing Company reported a third-quarter profit of 211 billion New Taiwan dollars ($6.69 billion) on Thursday as weak demand for consumer electronics persists. Even though it was the largest profit decline since the first quarter of 2019, the world’s largest contract chipmaker bested analysts’ expectations. Here are TSMC’s third quarter results versus Refinitiv consensus estimates: Revenue: 546.73 billion New Taiwan dollars ($17.28 billion), vs. NT$540.39 billion expected Net income: NT$211 billion, vs. NT$191.43 billion expected TSMC reported revenue slipped 10.83% from a...

Apple iPhone supplier Foxconn, officially known as Hon Hai, said its semiconductor strategy is to focus on producing ”specialty chips” — not competing in cutting-edge chips. ”We do not chase [after] the most advanced technology. Hon Hai will not compete with leading edge players like 4-nanometer or 3-nanometer. We focus more on specialty technology,” Chiang Shang-Yi, chief strategy officer for semiconductor at Hon Hai Technology Group, told CNBC’s Emily Tan on Tuesday. Specialty chips are known as semiconductors found in sectors such as automotive and internet of things. Chips for automotive uses are typically made using mature technology – 28-nanometer...