Asia

Samsung gets temporary OK on China chip facilities

Samsung Electronics has been granted an exception that will allow it to continue to temporarily maintain its memory-chip production facilities in China after the U.S. announced last week it’s tightening export controls to limit China’s ability to get advanced computing chips.

Gap is cutting 500 corporate jobs

Gap is eliminating about 500 corporate jobs, after enduring years of slumping sales at the flagship Gap brand and more recently at the Old Navy chain.