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WSJ Tech News Briefing

TNB Tech Minute: G-7 Criticizes Chinese Subsides of High-Tech Exports

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 14 June 2024

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus, the French government makes a bid for IT firm Atos, and Adobe’s shares climb on better-than-expected earnings. Zoe Thomas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Z-Scaler extended its Zero Trust architecture with powerful AI engines trained by 500 trillion daily signals

0:07.8

to prevent ransomware and AI attacks that target business.

0:11.7

Z-scaler Zero Trust plus AI. Learn more at Z-scaler

0:16.0

dot com slash Zero Trust AI. Here's your T&B Tech Minute for Friday, June 14th. I'm Zoe Thomas for the Wall Street Journal.

0:27.0

The group of seven industrialized nations has vowed to push back against a wave of cheap Chinese high-tech products.

0:34.8

G7 leaders who were meeting in Italy this week said China's massive subsidies on electric

0:40.1

vehicles, batteries, and other products, or hurting other countries.

0:44.3

The move by the U.S. and other G7 members is a coordinated attempt to counter what they consider

0:49.6

to be unfair economic competition.

0:52.3

A spokesman for the Chinese embassy in Washington said the country's industrial

0:56.2

subsidy policy strictly abides by world trade organization rules.

1:01.2

IT firm Atos has received a non-binding offer from the French government to buy part of its big

1:06.8

data and cyber security division for 700 million euros, roughly 751.6 million dollars, including debt. A potential sale could offer a

1:17.3

lifeline to the debt-laden company, though the value of the bid is on the low end

1:22.1

of what the French government had previously

1:24.1

indicated.

1:25.1

Ato said it will discuss the offer with the French state, but that there were no guarantees

1:29.6

a definitive deal would be struck.

1:32.4

And Adobe's stock climbed today, closing up 14.5% to roughly $525.

1:39.0

The software company posted a bigger than expected jump in a profit of 1.57 billion dollars in the latest quarter.

1:50.0

Revenue rose 10% to 5.31 billion dollars, beating analyst expectations.

1:56.7

Adobe also raised its revenue forecast for the year.

...

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