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☆ British Chamber of Commerce in Germany: Brexit continues to have negative impact
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBritish Chamber of Commerce in Germany: Brexit continues to have negative impactMichael Schmidt, president of the British Chamber of Commerce in Germany, discusses a report that found Brexit continues to negatively weigh on business and trade in the U.K. and European Union.

Persons: Brexit, Michael Schmidt Organizations: British, of Commerce, British Chamber of Commerce, Union Locations: Germany

☆ NATO ally Greece wants the F-35, but it wants them once the fifth-gen stealth fighter's 'childhood illness' is cured
▼ + stars: | 2024-03-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewGreece's military leadership has announced radical changes in its Armed Forces, particularly its air force, including plans to offload older combat aircraft and get new F-35 stealth jets. "Development and production concurrency is Block 4′s most critical challenge, and we are dealing with its consequences today," F-35 program executive officer Lt. Gen. Michael Schmidt said in December. Advertisement"The F-35 [Joint Program Office], Lockheed Martin, and other industry partners have identified high risk concurrency in the F-35 Block 4 schedule, which would threaten to shut down aircraft production if development slips," he added. An Israeli Air Force F-35 Lightning II fighter aircraft flies over during an air show in Tel Aviv. For the air force, that means retiring and selling a variety of aircraft, such as F-4 jets, Mirage 2000-5 planes, and Block 30 F-16s.

Persons: —, of Defense Nikos Dendias, Dendias, Michael Schmidt, Lockheed Martin, Frank Kendall, JACK GUEZ, Jon Ludwigson, Ludwigson, Greece's Organizations: Service, Armed Forces, of Defense, Business, Air Force, Israeli Air Force, Getty, Office, Armed Force, US State Department Locations: Greece, Tel Aviv, AFP

☆ Biotech stocks jump on AbbVie deal to buy cancer drugmaker ImmunoGen for $10 billion
▼ + stars: | 2023-11-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which are designed to directly kill cancer cells and spare healthy ones. Shares of other biotech companies developing ADCs, which are among the hottest areas in the pharmaceutical industry, jumped on the news of the buyout. The SPDR S&P Biotech ETF , which focuses on small and midsize biotech companies, rose 3% Thursday. Under the terms of the deal, AbbVie will pay $31.26 a share in cash for ImmunoGen, a roughly 95% premium to Wednesday's closing price.

Persons: AbbVie, ImmunoGen, Michael Schmidt Organizations: Biotech, Mersana Therapeutics, ADC Therapeutics, P Biotech ETF, Nasdaq Biotechnology, ImmunoGen, Pfizer, Merck, CNBC PRO Locations: ADCs

☆ How the CHIPS Act is aiming to restore a U.S. lead position in semiconductors
▼ + stars: | 2023-10-17 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

That's where the bipartisan $52.7 billion CHIPS Act comes in, with a goal of having the U.S. compete once again with countries like South Korea and Taiwan in semiconductors. "The CHIPS Act was a bipartisan recognition that is not an acceptable status quo." There is also funding from the CHIPS Act earmarked for worker development. However, as now more than a year has passed since President Joe Biden signed the CHIPS Act into law, many in the U.S. semiconductor industry are waiting for that money to flow into it. "This is a global industry and will remain a global industry and that's a good thing, but we want the United States to be a core part of their business models."

Persons: Michael Schmidt, Schmidt, Joe Biden, we've, CNBC's Morgan Brennan, isn't Organizations: CNBC, Treasury Department, Nvidia, Qualcomm, AMD Locations: U.S, South Korea, Taiwan, United States

Yes to life" take part in a anti-lithium protest in Covas do Barroso, Portugal, August 15, 2023. With 60,000 tonnes of known reserves, Portugal is already Europe's biggest producer of lithium, traditionally mined for ceramics. Referring to the Barroso project and another in France, he said it would be "a disaster if either ... doesn't succeed". But with only 15 of 916 submissions in a public consultation supporting the project, Savannah faces a struggle to win over locals who have said they will fight it and the APA in court. "Politicians listen to those who shout loudest and have most money - and that's the mining industry," she said.

Persons: Catarina Demony, Maria Loureiro, Loureiro, Barroso, Martin Jackson, , Savannah's, Michael Schmidt, doesn't, Schmidt, Nelson Gomes, Greta Thunberg, Karin Kvarfordt Niia, LKAB's, Anders Lindberg, UDCB's Catarina Alves Scarrott, Aida Fernandes, Barroso's, Dale Ferguson, Ferguson, Emanuel Proenca, Teresa Camille, Gunilla Hogberg Bjorck, Miguel Pereira, Covas do Barroso, Pietro Lombardi, Simon Johnson, Aislinn Laing, Catherine Evans Organizations: REUTERS, Savannah Resources, DO BARROSO, EU, Agriculture Organization, CRU, APA, State, Barroso, Reuters, UDCB, Thomson Locations: Covas do Barroso, Portugal, Barroso, China, London, Savannah, Europe, France, Kiruna, Sweden's, Montalegre, Scarrott, Portuguese, EUROPE, Chile, Covas, Karr, Covas do, Madrid, Stockholm

A plea deal struck between the Department of Justice and Hunter Biden was supposed to bring his years of legal troubles to an end. Instead, that deal has unraveled and a special counsel has been named to take over the case. Michael Schmidt, a Washington correspondent for The Times, explains why that turn of events is increasingly pitting the interests of Hunter Biden against those of President Biden.

Persons: Hunter Biden, Michael Schmidt, Biden Organizations: Department of Justice, The Times Locations: Washington

On Wednesday morning, Hunter Biden was scheduled to a guilty plea in a Delaware courtroom, marking the end of a yearslong federal investigation that many Republicans believed would put the president’s son in prison, and put an end to the Biden presidency. Michael Schmidt, who covers national security and federal investigations for The New York Times, explains why none of that has happened.

Persons: Hunter Biden, Biden, Michael Schmidt Organizations: Republicans, The New York Times Locations: Delaware

☆ 10 Things in Tech: Google's WFH crackdown, mass layoffs are creating new founders, and Jack Dorsey's Apple Vision Pro worry
▼ + stars: | 2023-06-15 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Tech layoffs are fueling an influx of new founders building climate, health, and fintech startups. Microsoft CEO Satya Nadella said he liked to test AI using a poetry prompt to see if it had the "subtlety" to translate "deep meaning." Twilio's Joyce Kim said "predictive AI is going to be a core part of every tool that they use." The European parliament has voted to take steps to regulate AI technology such as ChatGPT, with its parliament backing a ban on the technology for biometric surveillance, emotion recognition, and predictive policing. Uber CEO Dara Khosrowshahi says the most common mistake he sees young people make is overplanning.

Persons: Nathan Rennolds, it's, let's, Sundar Pichai, Google's, hasn't, Simplyblock, Michael Schmidt, Robert Pankow, Jack Dorsey's, Satya Nadella, Uber, Twilio's Joyce Kim, Dara Khosrowshahi, Leigh Vogel, Elon, Kairan, Hallam Bullock Organizations: Google, Jack Dorsey's Apple, Microsoft, Summit, Getty, SpaceX, LinkedIn Locations: London, Google's, Simplyblock, Europe, New York City

☆ U.S. Commerce Dept. names financial sector, government experts to chips team
▼ + stars: | 2023-02-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 17 (Reuters) - The U.S. Commerce Department said Friday it is naming more than a dozen members to a team overseeing $52.7 billion in government funding to boost semiconductor manufacturing and research. The new team members include officials with experience managing large federal programs, experts from the semiconductor industry, and executives with financial sector experience, the department said. The department said Todd Fisher - a Commerce official who previously worked for nearly 25 years at KKR & Co. Inc - will serve as chief investment officer. The department plans to release its first Notice of Funding Opportunity this month, a key step to beginning the process of making funding awards. In September, Commerce Department chief economist Aaron "Ronnie" Chatterji was named White House Coordinator for CHIPS Implementation while former Treasury official Michael Schmidt was named Commerce Department CHIPS Program Office director.

☆ Trump's former chief of staff John Kelly had to repeatedly remind the former president he could not share classified information with friends, NYT journalist says
▼ + stars: | 2023-01-15 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +2 min

Trump's former chief of staff did not trust how he handled classified information, NYT journalist says. Michael Schmidt said John Kelly was concerned that Trump "could damage national security." "Kelly did not trust that Trump knew how to handle classified information,' Schmidt said. "Kelly did not trust that Trump knew how to handle classified information,' Schmidt said. Schmidt added: "Here's the chief of staff to the president of the united state concerned that the president of the united states could damage national security.

☆ John Kelly was forced to deal with 'fights' between Melania and Ivanka Trump as they competed for influence, NYT journalist says
▼ + stars: | 2023-01-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

John Kelly had to deal with conflicts between Melania and Ivanka Trump, NYT journalist Michael Schmidt said. Schmidt's book "Donald Trump v. The United States" includes details about Kelly's time as White House chief of staff. Schmidt, who wrote the book "Donald Trump v. The United States," told MSNBC that Ivanka Trump wanted to be the first lady in a "ceremonial" sense. "John Kelly is probably as serious a national security figure as you can find, a four-star Marine general. Schmidt said that during Kelly's time in the White House, he was often forced to focus on less important issues, including telling former White House aide Omarosa to stop having parties at the White House pool.

☆ Trump suggested dropping a nuclear bomb on North Korea and blaming it on someone else in 2017, book claims
▼ + stars: | 2023-01-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

As president, Donald Trump suggested nuking North Korea and blaming someone else, a new book extract says. It is alleged that Trump made the comments in 2017 around the time he was issuing public threats to North Korea. The revelation was made in a new afterword to the book "Donald Trump v. The United States" by New York Times Washington correspondent Michael Schmidt, due to be released on Tuesday. US President Donald Trump and North Korea's leader Kim Jong-un talk before a meeting in the Demilitarized Zone(DMZ) on June 30, 2019, in Panmunjom, Korea. Trump "would turn back to the possibility of war, including at one point raising to Kelly the possibility of launching a preemptive military attack against North Korea," the book said.

☆ Trump discussed using a nuclear weapon on North Korea in 2017 and blaming it on someone else, book says
▼ + stars: | 2023-01-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +5 min

Later that month, Trump continued to goad North Korea through his tweets. But the argument about how many people could be killed had "no impact on Trump," Schmidt writes. Then, Trump "would turn back to the possibility of war, including at one point raising to Kelly the possibility of launching a preemptive military attack against North Korea," Schmidt said. Kelly warned that Trump would need congressional approval for a pre-emptive strike, which "baffled and annoyed" Trump, according to the afterword. Schmidt also writes that it was well-known among senior U.S. officials for several decades that North Korea sought to spy on U.S. decision-makers.

In the early 2010s, Mr. Mellow set out for still more distant shores, traveling to many famous surf breaks in the South Pacific. Mr. Abdul-Rashed and Mr. Danian traveled to Hawaii to connect with Mr. Mellow, their spiritual guide and Pacific expedition leader. Mr. Mellow posted an ad on Facebook and Craigslist offering $10,000 for passage to the South Pacific. Mr. Schmidt was in sync with the young seekers when it came to fear of Big Brother and vaccines, but dreading port officials brandishing nasal swabs struck even Mr. Schmidt as a little unhinged. When asked if he was at all responsible for what had happened to Mr. Danian and Mr. Abdul-Rashed, Mr. Mellow looked genuinely confused.

☆ U.S. picks team to oversee $52.7 bln in semiconductor funding
▼ + stars: | 2022-09-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Kevin LamarqueWASHINGTON, Sept 20 (Reuters) - The Biden administration on Tuesday named a team of senior advisers to oversee $52.7 billion in government funding to boost semiconductor manufacturing and research. In August, Congress approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants that is estimated to be worth $24 billion. At Commerce, Treasury official Michael Schmidt will serve as CHIPS Program Office director. Former Palm Computing CEO Donna Dubinsky is Raimondo's senior counselor for CHIPS implementation and Commerce official J.D. Commerce hopes by February to begin seeking applications for $39 billion in semiconductor chips subsidies to build new facilities and expand existing U.S. production.

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