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Good Morning!
Happy early St. Patrick’s Day!
👉 China urges companies
👉 McDonald’s system outage
👉 SpaceX has a successful launch
Let’s get into it!
CHINA: Urges Companies
The Chinese government urges EV manufacturers such as BYD and Geely to increase their purchases from local chipmakers, aiming to cut down on Western imports and enhance China's semiconductor sector. The Ministry of Industry and Information Technology is pushing for a shift towards Chinese-made chips to meet a target of sourcing 20% domestically by 2025 due to dissatisfaction with the current pace.
Source: CNN
Firms are advised to choose local over foreign chips, impacting international chipmakers who must partner with Chinese companies to remain competitive. This strategy is China's response to U.S. sanctions. It aims to fortify its tech industry, creating uncertainty for global semiconductor companies like Nvidia and Texas Instruments in the lucrative EV market.
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McDonalds: System Outage
On Friday, McDonald's had a technical issue that stopped customers from ordering food in several places around the world. The company said this problem wasn't due to a cyberattack. The issue first came up in Australia, with McDonald's there quickly working on a fix. By early morning, they announced that most Australian stores were back in business.
Source: CNBC
McDonald's Japan also paused its services, apologizing to customers for the trouble. Websites like Downdetector showed many people reporting problems with the McDonald’s app in Australia and the UK early that day. McDonald's has about 40,000 restaurants globally, including over 1,000 in Australia, more than 1,450 in the UK, and nearly 3,000 in Japan, one of its biggest markets.
SPACEX: Launch Success
On Thursday, SpaceX successfully launched its Starship rocket for a third test flight, reaching space from its Texas facility. This flight surpassed previous ones in distance and duration, lasting about an hour before ending above the Indian Ocean. However, it didn't achieve its intended splashdown.
Source: NASA
Despite this, the test marked a significant advancement in SpaceX's development of the massive, fully reusable rocket system, integral to NASA's lunar and Martian exploration plans. SpaceX and NASA officials praised the milestone, emphasizing progress towards operational launches. The Starship rocket, the tallest and most powerful ever built, is a key part of SpaceX's strategy for space travel and cargo transport beyond Earth
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