Tag: biggest

US squeezes China’s biggest chip-maker SMIC

By Leo KelionTechnology desk editor image copyrightSMIC/Getty Images The US Department of Commerce has written to American suppliers of China’s biggest chip manufacturer, warning them of “unprecedented risks” that their products could be used by the Chinese military. The letter reminds the firms they must apply for licences to ship controlled items to Shanghai-based SMIC. But it does not appear… Read more →

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NI production and services output in ‘biggest fall since 2005’

Image copyright Reuters Image caption Many businesses effectively had to close overnight due to coronavirus Between April and July this year, two parts of the Northern Ireland economy saw their biggest fall since 2005. Official figures show services – the largest sector of the NI economy – reported an almost 18% fall in output. The decrease was caused by declines… Read more →

Coronavirus: Japan suffers its biggest economic slump on record

Image copyright Getty Images The Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic. The world’s third largest economy saw gross domestic product (GDP) fall by 27.8% in the April to June quarter, compared to the same period last year. Japan was already struggling with low economic growth before the crisis. The figures… Read more →

Coronavirus: Lloyd’s of London says claims to be biggest since 9/11

Image copyright Getty Images Insurance market Lloyd’s of London has said it expects coronavirus-related claims to cost it $3bn to $4.3bn (£2.5bn to £3.5bn). That means its biggest payout since the 11 September 2001 attacks in the US. The losses could rise further if the current lockdown continues into another quarter, Lloyd’s said. Insurers around the world have been hit… Read more →