Plus, the French government makes a bid for IT firm Atos, and Adobe’s shares climb on better-than-expected earnings. Zoe Thomas hosts.
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[00:00:00] Here's your TNB Tech Minute for Friday, June 14th. I'm Zoe Thomas for the Wall Street Journal. The group of seven industrialized nations has vowed to push back against a wave of cheap Chinese high-tech products.
[00:00:35] G7 leaders who were meeting in Italy this week said China's massive subsidies on electric vehicles, batteries and other products were hurting other countries. The move by the U.S. and other G7 members is a coordinated attempt to counter what they consider to be unfair economic competition.
[00:00:52] A spokesman for the Chinese embassy in Washington said the country's industrial subsidy policy strictly abides by World Trade Organization rules. IT firm Atos has received a non-binding offer from the French government to buy part of its big data and cybersecurity division for 700 million euros, roughly 751.6 million
[00:01:13] dollars including debt. A potential sale could offer a lifeline to the debt-laden company, though the value of the bid is on the low end of what the French government had previously indicated. Atos said it will discuss the offer with the French state but that there were no
[00:01:29] guarantees a definitive deal would be struck. And Adobe's stock climbed today, closing up 14.5 percent to roughly $525. The software company posted a bigger than expected jump in quarterly profit and sales. The software provider reported a profit of $1.57 billion in the latest quarter.
[00:01:50] Revenue rose 10 percent to $5.31 billion, beating analysts' expectations. Adobe also raised its revenue forecast for the year. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast. Learn more at zscaler.com slash zero trust AI.