World Street | Samsung, Intel to gain for US' chip push, big Japan wage hikes, Microsoft launches security copilot and more

World Street offers a sneak peek into the world of business and economy.

United Airlines seeks Airbus A321neo jets amid delayed Boeing orders, while US pledges $6 billion for Samsung's expansion. Joe Biden to announce a multi-billion-dollar award for Intel chip production. Toyota agrees to record a pay raise. Wage talks to impact Bank of Japan's decisions. Microsoft unveils Copilot for Security platform. China urges US to halt TikTok "suppression". All this and more on this edition of World Street.

United Airlines Holdings Inc is nearing a deal to acquire 36 or more Airbus A321neo jets from leasing companies, Bloomberg reported. The move comes as the airline seeks to replace delayed Boeing 737 Max 10 orders, which are behind reschedule by at least five years. Negotiations are in their final stages for delivery between 2025 and 2027.

The US intends to grant Samsung Electronics Co over $6 billion to support its expansion, in addition to a project in Texas already announced by the chipmaker, reported Bloomberg. This funding, part of the 2022 Chips and Science Act, is one of several significant awards expected from the commerce department in coming weeks.

Next week, US President Joe Biden and commerce secretary Gina Raimondo will announce a multi-billion-dollar award for Intel's chip production expansion in Arizona, reported Reuters. Intel has extended invitations to its customers and suppliers for the event. The company has sought grants to fund expansion plans in both Ohio and Arizona.

During Japan's annual "shunto" spring wage talks, Toyota, the world's largest automaker, agreed to its most significant yearly pay raise for workers in 25 years. This year's negotiations have garnered substantial attention, with several major corporations announcing strong salary increases that sometimes surpass union demands, reported CNBC.

The Bank of Japan Governor Kazuo Ueda emphasised that these negotiations will impact the central bank's decision on exiting the negative interest rate policy. The first summary of ongoing negotiations will be announced by Japan's largest trade union group, Rengo, on March 15.

Microsoft has unveiled its Copilot for Security platform, marking another stride in integrating generative AI features into its enterprise offerings. Set to launch on April 1, the service aims to enhance the capabilities of cybersecurity professionals by providing insights into security threats and expediting the detection of security issues.

Berachain, a blockchain platform, is set to achieve unicorn status after securing over $69 million in funding from leading investors Brevan Howard Digital and Framework Ventures. With this funding round, the project's valuation is expected to reach $1.5 billion, reported Bloomberg.

Berachain specialises in decentralised finance (DeFi), facilitating activities such as trading, lending, and borrowing without the need for traditional intermediaries like banks.

China urged the US to cease its "unreasonable suppression" of TikTok, an app used by 170 million Americans. It highlighted the app's significance amidst ongoing tensions between the two nations.

Commerce ministry spokesman He Yadong emphasised the importance of respecting market principles and fair competition during a press briefing in Beijing. He affirmed that China would take decisive actions to protect its lawful rights and interests in response to such measures.