Company Briefs :TSMC

Taiwan Semiconductor Manufacturing Co (TSM) expects revenue to grow about 30 per cent this year, signalling resilient demand for electronics despite global macroeconomic uncertainty.

Sales growth this year should accelerate from last year's 24.9 per cent, which was in dollar terms, chairman Mark Liu said at the company's annual shareholder meeting yesterday.

That is in line with executive remarks in April that gave an official outlook of topping mid-to high-20 per cent growth in 2022.

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Credit Suisse

Credit Suisse Group said yesterday that a slump at its investment bank will lead to a third straight quarterly loss as it blamed volatile markets and clients cutting back on risk.

Shares of the troubled Swiss lender fell as much as 7.6 per cent in Zurich trading after warning that results in the second quarter were impacted by clients pulling back, particularly in Asia.

The firm is also weighing a fresh round of job cuts as it pledged to accelerate its effort to reduce expenses, people familiar with the matter said.

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BYD

BYD, the carmaker backed by Berkshire Hathaway CEO Warren Buffett, is getting ready to sell its own batteries to Tesla Inc, an executive at the Chinese company has told state media.

"We are good friends with Elon Musk and we are preparing to supply batteries to Tesla," BYD's executive vice-president Lian Yu-bo said in a video clip on state TV broadcaster CGTN yesterday.

While there has long been speculation about the likelihood of BYD striking a battery supply deal with the world's biggest maker of electric cars, neither party has ever confirmed talks.

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