WRAPUP 1-Chipmakers squeezed as downturn bites harder


* STMicroelectronics warns on year-end results * TSMC and UMC prepare to cut up to 20 pct in costs-sources By Georgina Prodhan and Doug Young LONDON/TAIPEI, Nov 28 (Reuters) - Fresh signs of a downturn in global chip demand emerged on Friday, as STMicroelectronics cut its fourth-quarter outlook while industry sources said two leading Taiwan companies are looking to slash costs. Franco-Italian STMicroelectronics NV lowered its sales and earnings forecast for the current quarter, while ...

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