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Taiwan to fine Foxconn for unauthorised China investment

News Snapshot:

Taiwan’s government said on Saturday it would fine Foxconn, the world’s largest contract electronics maker, for an unauthorised investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake. Taiwan has turned a wary eye on China’s ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology. Foxconn, a major Apple Inc supplier and iPhone maker, disclosed in July it was a shareholder of embattled Chinese chip conglomerate Tsinghua Unigroup. Late Friday, Foxconn said in a filing to the Taipei stock exchange…

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