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In this article SSU-FF Follow your favorite stocks CREATE FREE ACCOUNT A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. Florence Lo | Reuters A former Samsung Electronics  employee who later joined Chinese memory chipmaker ChangXin Memory Technologies, or CXMT, was reportedly sentenced by the Seoul High Court on Oct. 22 to five years in prison for leaking Samsung's technology. The sentence was reduced from seven years at his first trial in April. The former employee had joined CXMT in 2016. The case highlights an intensifying battle over semiconductor know-how as Chinese chipmakers narrow the gap with established rivals, putting the race for top engineering talent increasingly at odds with efforts to protect trade secrets. In 2023, a South Korean court granted Samsung's request to block a former DRAM researcher from joining U.S. rival Micron . It ruled that the two-year non-compete was not excessive and was necessary to protect Samsung's technology and business information, JoongAng Ilbo reported . Closing the gap A decade ago, Chinese memory chipmakers were not Samsung's biggest concern when it came to losing experienced engineers. Instead, the South Korean company was more focused on employees leaving for established rivals such as SK Hynix and Micron, according to a former employee who asked not to be identified because the information was private. Samsung has been monitoring where certain departing employees went — to signal to remaining staff that moving to competitors would be difficult — according to a former employee. The company also used non-compete agreements restricting employees from joining rivals for two years, as part of their employment contracts, with senior employees holding valuable technical expertise likely facing closer scrutiny. But Samsung's concern extended beyond individual departures. "It wasn't just about one employee leaving. The company wanted to send a message to those who stayed that moving to a competitor wouldn't be easy," the former employee said. Meanwhile, Chinese semiconductor companies have sought to close the technology gap by recruiting experienced overseas engineers with high salaries, stock options, housing and family support, according to Jeongku Choi, a senior analyst at Counterpoint Research. Their expertise has helped Chinese chipmakers overcome technical bottlenecks, particularly as U.S. export restrictions have limited China's access to advanced chipmaking equipment, Choi said. Once viewed as unlikely to catch up with established players, Chinese manufacturers are now seen as "meaningful competitors," she added. The CXMT logo is displayed on a smartphone screen placed on a reflective surface on which the flag of China is projected, in Creteil, France, on July 17, 2026, as the initial public offering (IPO) of Chinese DRAM memory chip giant ChangXin Memory Technologies generated interest and raised nearly 8.6 billion dollars on Shanghai's STAR Market. Nurphoto | Nurphoto | Getty Images Counterpoint's Memory Tracker for the second quarter of 2026 projected CXMT's share of global DRAM revenue would reach 10%. Established chipmakers are strengthening legal protections and internal security measures while adjusting compensation packages to retain key engineers, according to Choi.  South Korea has also designated certain semiconductor manufacturing technologies as " National Core Technologies ," raising the penalties for unauthorized leaks of those technologies, Choi said. The legal battle could intensify as Chinese memory companies expand beyond their home market. "I believe that this management of trade secrets will expand its scope even further to IP and legal areas once Chinese memory companies move beyond the Chinese market and begin to expand their exports," Choi said. Protecting trade secrets The growing competition is putting greater focus on how semiconductor companies protect the knowledge accumulated by engineers working on complex manufacturing processes. In Taiwan, home to the world's largest contract chipmaker TSMC , protections for trade secrets have evolved alongside the semiconductor industry’s growing strategic importance. Jamie J. Yang, a partner specializing in antitrust and intellectual property at Innovatus Law, said Taiwan limits post-employment non-compete agreements to two years and requires employers to compensate former employees at least half their average monthly salary during the restricted period. Yang added that the complexity of semiconductor manufacturing makes it difficult for any single engineer to possess enough knowledge to replicate an entire production line elsewhere. "There is just very little chance that one person ... will know enough to replicate that line in any of the other companies," Yang said. Moves by engineers between rival semiconductor companies could increase modestly as competition for top talent intensifies, while trade secret litigation is also likely to rise as firms seek to protect their technological edge, she added. But the challenges extend beyond Taiwan. In Singapore, Zechariah Chan, a partner at law firm Lee & Lee, said protecting trade secrets can be particularly difficult in the semiconductor industry, where proprietary knowledge often involves intangible manufacturing techniques and methods. You cannot 'take' the information back after the engineer has become aware of it. Zechariah Chan Partner, Lee & Lee Law Firm Proving that a competitor has used proprietary manufacturing techniques can also be difficult, as outsiders generally see only the final product, according to Chan. "There is no bright line between an engineer's expertise and proprietary information," he said. General skills and knowledge stay with the engineer, while trade secrets remain with the company. In Singapore, non-compete clauses are enforceable only if they protect legitimate business interests and are reasonable in scope, geographical area and duration. In Hong Kong, courts generally take a restrictive approach to non-compete clauses, enforcing them only when they protect legitimate business interests and go no further than necessary, according to Jezamine Fewins, head of litigation at Lewis Silkin in Hong Kong. Courts are more willing to protect trade secrets through court injunctions, Fewins said. "The difficulty is that often the trade secret is carried in the employee's head," she added. Information is more likely to qualify as a trade secret if its disclosure to a competitor could cause significant harm to the former employer and the company has taken steps to restrict access. For chipmakers, Fewins said the key is to clearly define what constitutes a trade secret, make employees aware of that information and put safeguards in place to limit access. Samsung and CXMT did not respond to CNBC's request for comment. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

A general view of the 18th hole during day four of LIV Golf Indianapolis at The Club at Chatham Hills on Aug. 23, 2026 in Westfield, Indiana. Michael Miller | ISI Photos | Getty Images LIV Golf could be headed for liquidation after BC Partners Credit reportedly dropped plans to finance a relaunch of the breakaway league. The investment firm had pledged up to $300 million for a revamped version of LIV, known as LIV 2.0, but withdrew the plan after LIV Golf failed to secure enough player commitments, according to the Associated Press. LIV is scheduled to appear in U.S. bankruptcy court Thursday, with the hearing now expected to focus on liquidation of its assets. The league's ultimate fate remains unclear. LIV Golf and BC Partners did not immediately respond to CNBC's requests for comment. LIV filed for Chapter 11 bankruptcy protection in September after Saudi Arabia's Public Investment Fund said it would stop funding the league after the 2026 season. PIF had invested more than $5 billion since LIV launched in 2022, according to its Chapter 11 filing. BC Partners' proposed relaunch would have made players majority owners of the reorganized league and featured a scaled-back schedule. But LIV has lost several prominent players, including Jon Rahm and Sergio Garcia, as it sought commitments for the new venture. Rahm said Tuesday that uncertainty over the league's future and proposed changes to its format influenced his decision to leave. "There were too many unknowns at the time, and there's still quite a few," he told reporters ahead of the Abu Dhabi Championship. Rahm added that the revamped competition appeared to be moving away from the team format that initially attracted him. Garcia, who secured a release from his LIV contract in October, has outlined plans to return to the DP World Tour and explore a possible return to the PGA Tour. Only four players had publicly committed to LIV 2.0: Richard Bland, Cameron Tringale, Brendan Steele and Ben Campbell, according to Golf Digest. LIV launched in 2022 as a challenger to the PGA Tour, recruiting prominent players including Phil Mickelson, Dustin Johnson and Bryson DeChambeau with lucrative contracts. Its arrival split men's professional golf, with the PGA Tour suspending members who competed in LIV events. The disputes later spilled into the courts, with players challenging suspensions and the rival organizations pursuing competing legal claims. The PGA Tour denied the allegations , while LIV dismissed the counterclaims. A June 2023 framework agreement between the PGA Tour, DP World Tour and PIF ended their litigation and proposed combining their commercial businesses, although the deal was never completed. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Aug. 12, 2026. Michael Nagle | Bloomberg | Getty Images U.S. equity futures rose on Wednesday evening following a rally on the heels of a sharp decline in the price of oil and certainty around the Democrats' midterm wins . Futures tied to the Dow Jones Industrial Average rose 90 points, or 0.2%. S&P 500 futures were up 0.1%, and Nasdaq-100 futures were flat.  After the bell on Wednesday, chipmaker Qualcomm reported earnings that beat estimates, but fell 6.5%. AppLovin , the artificial intelligence-powered advertising company, surged almost 24% after delivering better-than-expected results and issuing guidance that beat estimates. Stocks on Wednesday rallied as oil prices dipped, with West Texas Intermediate crude futures falling more than 8% to settle at $88.12 a barrel. The Dow gained more than 1,500 points, or 3%, to post its best day since April 2025, while the S&P 500 advanced 1.6%. Those moves came after Vice President JD Vance blamed the Iran war for Republican losses in the midterms on Tuesday.  In Asia, Japan's  Nikkei 225  gained 0.49% on Thursday, while the Topix rose over 2%. South Korea's Kospi was down 2.33%, and the tech-focused, small-cap Kosdaq fell 1.24%. Australia's S&P/ASX 200 was up 1.39%. Trading on Wednesday stateside showed investors adjusting to midterm results, which showed Democrats flipping control of the House of Representatives and Senate — securing comfortable majorities in both chambers — and a slew of governorships, too.  Consumer discretionary names such as Walmart helped lead the way higher on Wednesday, with the retail giant up more than 3% in the regular session. At the same time, names linked to the data center build-out , like CoreWeave , fell on worries about a backlash to the industry in light of election results in various states. In Texas, for instance, Democrat Gina Hinojosa won the election for governor after calling for tougher restrictions on data center development. But Jordan Watson, a portfolio manager at Tandem Investment Advisors, said the big rally and the rotation away from artificial intelligence names could be temporary.  "We may be headed for more volatility as investors digest the election results and potential policy implications," he said. "I wouldn't view [Wednesday's equity trading] as an all-clear signal, but rather a call for some sanity around the amount of capital being poured into the AI infrastructure build-out and whether those investments will generate the returns investors expect." Going into Thursday, traders will be watching for weekly jobless claims data. October's nonfarm payrolls report is due on Friday. On the earnings front, Tapestry, Kimberly-Clark and ConocoPhillips are expected to report in the morning, followed by Airbnb and Akamai in the afternoon. 58 Min Ago Hong Kong's Hang Seng Tech index surges over 5%, bucking broader Asia tech sell-off Hong Kong's Hang Seng Tech index jumped more than 5% on Thursday, bucking a broader sell-off in technology stocks across Asia as Chinese tech heavyweights rallied. Tech giant Alibaba surged 6.36%, while Tencent climbed 6.42%. Baidu and Kingsoft Cloud also rose 4.9% and 6.44%, respectively. Chinese tech stocks rose even as those in Japan and South Korea dropped after a Democratic sweep in U.S. midterm elections stoked worries over curbs on AI infrastructure buildout. — Lee Ying Shan 3 Hours Ago Asian chip stocks plunge as Democratic sweep in U.S. midterms fuels AI sector jitters Asian semiconductor stocks tumbled Thursday, as investors weighed the implications of a sweeping Democratic victory in the U.S. midterm elections for the artificial intelligence sector. Japanese chip-testing equipment maker Advantest plunged 11.69% and Lasertec shed 11.76%. Tokyo Electron declined 9.89%, while Renesas Electronics fell 6.37%, respectively. Tech-focused investment firm Softbank Group was down over 6%. South Korean chipmakers also came under heavy selling pressure. Memory chip giant SK Hynix slumped 9.03%, while Samsung Electronics dropped 6.65%. The sell-off comes amid concerns that a Democratic-controlled Congress could usher in tighter restrictions on data-center development, potentially weighing on demand for AI-related infrastructure and chips. 4 Hours Ago South Korea's Kospi drops over 2%, Japan's Nikkei 225 gains 0.5% Asia-Pacific markets opened mixed on Thursday. Japan's  Nikkei 225  gained 0.49%, while the Topix rose over 2%. South Korea's Kospi was down 2.33%, and the tech-focused, small-cap Kosdaq fell 1.24%. Australia's S&P/ASX 200 was up 1.39%. —Lee Ying Shan 4 Hours Ago Asia markets set to track Wall Street rally after sweeping Democratic midterm victory Asia-Pacific markets were set to jump Thursday, tracking a Wall Street rally overnight as a decisive Democratic victory in the U.S. midterm elections eased political uncertainty, while a sharp drop in oil prices lifted investor sentiment. Democrats secured control of both chambers of Congress, raising expectations of legislative gridlock that could constrain President Donald Trump's policy agenda. Trump's acceptance of the election results also helped calm investors. Futures for Japan's  Nikkei 225  in Chicago were at 63,160 while in Osaka they were last at 63,110 compared with the index's previous close of 62,188.63. Futures for Hong Kong's Hang Seng index last traded at 24,425 compared with the index's last close of 23,919.5. Australia's S&P/ASX 200 was up 1.81% in early trading. Sentiment was further buoyed by an over 8% plunge in crude oil prices, as investors anticipated growing pressure on the Trump administration to bring an end to the war in Iran following Republican election losses. — Lee Ying Shan 5 Hours Ago Arm, Coherent, Expedia among the names making moves after the bell Dado Ruvic | Reuters Check out the companies making the biggest moves after the bell: Arm Holdings — Shares dipped almost 2% despite the designer of central processing units delivering a strong earnings report. The UK-based company reported adjusted earnings of 52 cents per share, compared to analysts polled by LSEG's consensus estimates for 47 cents. Expedia — Shares tumbled more than 7% after it delivered mostly weaker-than-expected guidance for the current quarter. The online booking company forecasts revenue between $3.69 billion and $3.75 billion in the fourth quarter, but analysts polled by FactSet on average expected $3.74 billion. The company, however, beat estimates for both earnings and revenue in the third quarter. Coherent — The optical materials company gained 7% after reporting adjusted earnings of $2.09 per share, compared to analysts polled by FactSet's estimates for $1.99 per share. Revenue also came in above estimates, as did guidance for the current quarter. Read the full list here . — Davis Giangiulio 5 Hours Ago Stock futures open flat Futures tied to the Dow Jones Industrial Average rose 69 points, or 0.1%. S&P 500 futures were up 0.1%, and Nasdaq-100 futures advanced 0.1%.  — Davis Giangiulio

In this article USDAUD= C Follow your favorite stocks CREATE FREE ACCOUNT Dado Ruvic | Reuters A Citigroup C.N employee was killed in a shooting at the bank's office in Tampa, Florida on Wednesday, Chief Executive Jane Fraser said, while authorities said the suspect involved was also dead. In a memo to staff, Fraser said the bank was still learning the details of what happened and was working closely with local law enforcement. "The Tampa campus is secure, and we are adding additional security to all of our other sites as necessary," Fraser said. Hillsborough County Sheriff Chad Chronister said in a statement earlier on Wednesday that "the suspect involved in the Citibank Active Threat scene is deceased." The sheriff also said 365 deputies had responded and that he believed it was a targeted incident. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.