European shares fell on Tuesday, with UK’s Ocado sinking after a worse-than-expected full-year loss, while data from France and Spain pointed to inflation being stickier than feared. The continent-wide STOXX 600 index slipped 0.3% in the first hour of trading, after closing sharply higher in the previous session. “Whether it be Spain, France or Germany, […]
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U.S. President Joe Biden’s administration unveiled on Thursday a long-awaited overhaul of arms export policy with increased emphasis on human rights, backing off a Trump-era policy of giving more weight to commercial concerns. As Reuters reported on Wednesday, the new Commercial Arms Transfer (CAT) policy covers review of security assistance, government-to-government weapons transfers and licensed […]
U.S. Commerce Secretary Gina Raimondo on Thursday said the government will encourage companies to build at least two advanced domestic computer chip factories employing thousands of union workers, as part of a $52.7 billion dollar initiative. The centers would also include a “robust supplier ecosystem,” Raimondo said in a speech in Washington. “America needs to […]
The United States will likely limit the level of advanced semiconductors made by South Korean companies in China, a senior U.S. official said. In October, South Korea’s Samsung Electronics and SK Hynix, the world’s top memory chip makers, received a one-year reprieve from U.S. export restrictions aimed at thwarting Beijing’s technological ambitions and blocking its […]
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to a persistently tight labor market, and further fueling fears that the Federal Reserve could raise interest rates higher than anticipated. Those worries were amplified by other data on Thursday showing inflation was much stronger than initially thought in the […]
Taiwan Semiconductor Manufacturing Co plans to construct a second chip plant in Japan to manufacture higher-end chips, 5 and 10 nanometre chips, from the second half of the decade, the Nikkan Kogyo newspaper reported on Friday. That decision could help Japan revive advanced semiconductor manufacturing, which it sees as key requirement for future economic growth […]
As the artificial intelligence boom takes off, Nvidia Corp is expected to emerge as the biggest – though not the only – winner in the AI chip race among chipmakers after years of focusing on the technology has made it a go-to supplier for tech firms. AI has emerged as a bright spot for investments […]
Nio plans to build its first battery plant in China to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on CATL for supplies. The plant underscores Nio’s ambition to ramp up its presence in the electric […]
European Commission Vice President Valdis Dombrovskis will head to Washington next month for more talks about the U.S. Inflation Reduction Act (IRA), he said on Thursday, adding that discussions are unlikely to solve all the EU’s concerns about the law. Dombrovskis, the European Union’s commissioner for trade, said progress was being made in some areas […]
Elon Musk will confront a critical challenge during Tesla’s Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead. Tesla Inc was the No. 1 EV maker worldwide in 2022, but China’s BYD and others are closing the gap […]