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☆ TV and film jobs may never fully recover post-pandemic, strikes, says Teamsters president
▼ + stars: | 2024-04-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

Jobseekers interested in breaking into the film and television industry may have a harder time this year and even in the coming years. The summit covered the media's job landscape at large and how educators can create pathways for young people in it. It's part of Reel Works, an organization that offers an assortment of educational and training programs in the field for underserved youth. U.S. film studios will see a 14% year-over-year decline in content investment in 2024 as a result of the 2023 strikes and the changing film market post pandemic, according to analytics company Ampere Analysis. Ampere also found that the number of scripted TV releases in the US fell from 633 in 2022 and 2021 to 481 in 2023.

Persons: Jobseekers, Tommy O'Donnell, O'Donnell, John Gibson, Kwame Amoaku, David Haddad, Irene Phan, Ampere, we've Organizations: Theatrical Teamsters, Paramount Global, Works, Motion, Association, Haddad's Inc, MBS, CNBC, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Otis College of Art, City, Teamsters, International Alliance, Employees, Ampere, Ampere Analysis Locations: York, Greater Los Angeles, Los Angeles, City and County, New York, U.S

☆ Seattle gave low-income residents $500 a month no strings attached. Employment rates nearly doubled.
▼ + stars: | 2024-04-19 | by ( Noah Sheidlower | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Read previewA Seattle-area guaranteed basic income pilot gave low-income residents $500 a month to help reduce poverty. The Workforce Development Council of Seattle-King County launched a 10-month guaranteed basic income pilot program with 102 participants in fall 2022. Over a quarter of participants reported acquiring disability insurance in their new jobs, which none of them had in their previous jobs. However, many of the pilot programs are funded privately by philanthropy or by federal relief funds. Republicans in several state legislatures have pushed efforts to ban basic income programs in their states.

Persons: —, Marie Kurose, Chase Bank — Organizations: Service, Workforce Development, of Seattle, King County, Business, Employment Security Department, Chase Bank Locations: Seattle, King, King County

☆ Seattle gave low-income residents $500 monthly payments with no strings attached. Some got new housing and employment rates nearly doubled.
▼ + stars: | 2024-04-19 | by ( Noah Sheidlower | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Read previewA Seattle guaranteed basic income pilot gave low-income residents $500 a month to help reduce poverty. The Workforce Development Council of Seattle-King County launched a 10-month guaranteed basic income pilot program with 102 participants in fall 2022. Over a quarter of participants reported acquiring disability insurance in their new jobs, which none of them had in their previous jobs. However, many of the pilot programs are funded privately by philanthropy or by federal relief funds. Republicans in several state legislatures have pushed efforts to ban basic income programs in their states.

Persons: —, Marie Kurose, Chase Bank — Organizations: Service, Workforce Development, of Seattle, King County, Business, Seattle, Employment Security Department, Chase Bank Locations: King, King County

☆ New data centers require billions of dollars in utility system upgrades. You may end up paying for it.
▼ + stars: | 2024-04-18 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +15 min

A record surge of data center construction is underway to provide the computing and storage that underpins society's fast-expanding digital footprint and powers artificial intelligence. In areas of the country where data centers have clustered, utilities have unveiled plans to spend billions of dollars to keep up. asked David Springe, the executive director of the National Association of State Utility Consumer Advocates. "Then you have the data centers that are having exponential load growth," Nelson said. Data centers also don't deliver the number of long term jobs – a key yardstick for public benefits – that other industries do.

Persons: Mike DeWine, David Springe, they're, Ryan Augsburger, Augsburger, Ron Nelson, Strategen, ratepayers, Nelson, Steve Helber, That's, PJM, David Lapp, Lapp, Jeffrey Shields, Shields, Kantele Franko, Shelby Moore, Meta, behemoth Blackstone, QTS, John Gavan, Daniel Tait, Tait Organizations: Amazon, Ohioans, Business, Wall, Boston Consulting Group, National Association of State, Consumer, Ohio Manufacturers ' Association, Web Services, Energy, Dominion Energy, Federal Energy Regulatory Commission, Tech, Wall Street titans, American Electric Power, Buckeye Power, AEP, Buckeye, AEP Ohio, Staff, Intel, Policy Institute Locations: Ohio, ratepayers, Chester , Va, Virginia, PJM, Chicago, New Jersey, New York City, Maryland, West Virginia, Pennsylvania, Columbus , Ohio, Denver, New Albany , Ohio, Minnesota, Columbus, Mississippi

☆ Student Aid Woes Stalk Cardona During Appearance on Capitol Hill
▼ + stars: | 2024-04-10 | by ( Zach Montague | ) www.nytimes.com time to read: +1 min

As Miguel A. Cardona, the education secretary, appeared before lawmakers on Wednesday to make his agency’s case for funding next year, members of both parties had something else on their minds: this year’s chaotic college admissions process. Republicans peppered him with questions about the botched rollout of the new Free Application for Federal Student Aid form, which has derailed college admissions this year. Several of them asked whether the agency had diverted resources away from the project in its pursuit of canceling student debt. “There’s nothing more important right now at the Department of Education,” Mr. Cardona told the House Appropriations Committee of the aid form, saying that the agency was successfully juggling multiple priorities with the resources available. “We’re working on this around the clock.”While Mr. Cardona was testifying, the House Subcommittee on Higher Education and Workforce Development held a separate hearing where lawmakers from both parties said the problems with the aid form had harmed aspiring college students.

Persons: Miguel A . Cardona, ” Mr, Cardona Organizations: Federal, Department of Education, Higher Education, Workforce Development

☆ The world is scarred from China shock 1.0. They're not about to let 2.0 happen so easily.
▼ + stars: | 2024-04-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

This could create a "China shock 2.0" that impacts other economies around the world. AdvertisementThis is just one of the industries the world is bracing for in the next phase of the "China shock." What happened in China shock 1.0? How Beijing could be creating China shock 2.0Now, China is targeting three new strategic industries that the rest of the world is also eyeing. What are the US and the rest of the world doing about China shock 2.0?

Persons: —, Xi, David H, Autor, David Dorn, Gordon H, Hanson, Rajiv Biswas, who's, Biswas, keener, Janet Yellen, Yellen, it's, Wang Wenbin, Wang, Nomura Organizations: Service, Beijing, OECD, European Union, Department of Energy, Treasury, European Commission, EU, Act, Wall Street, Bloomberg Locations: China, EU, Beijing, Communist China, Georgia, Southeast Asia, Africa, Latin America

☆ The Taiwan earthquake puts the vulnerability of the world's biggest chipmaker on full display
▼ + stars: | 2024-04-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The 7.2-magnitude earthquake shows the vulnerability of TSMC, the world's top chipmaker, to natural or geopolitical events. AdvertisementTaiwan experienced its worst earthquake in 25 years on Wednesday morning, disrupting the operations of companies including Taiwan Semiconductor Manufacturing, or TSMC. It's the world's largest chipmaker and is, by some estimates, the producer of 90% of the world's most advanced processor chips. Overall, a war over Taiwan could hit the world's economy to the tune of $10 trillion — or about 10% of global GDP — Bloomberg forecast. April 3, 6:41 p.m. SGT: An earlier version of this story misstated the magnitude of the earthquake that struck Taiwan.

Persons: —, TSMC Organizations: Taiwan Semiconductor Manufacturing, Service, Bloomberg, — Bloomberg, Taiwan Stock Exchange Locations: Arizona, Japan, Germany, Taiwan, Hsinchu, Beijing, Washington, China

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

☆ Biden's laws are pouring billions into new infrastructure and it could be a rare opportunity to make communities safer and more sustainable
▼ + stars: | 2024-03-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +11 min

The American Society of Civil Engineers gave it a C-minus in 2021 and said the US needed about $2.6 trillion in infrastructure investment over a decade. These include nonvehicle transportation projects such as pedestrian bridges and urban bike paths and neighborhood-level projects like park improvements. Inflation, worker shortages, and other obstaclesAcross the country, there are some key practical challenges to implementing infrastructure projects. Overcoming barriersLocal governments and employers across the country recognize many of the challenges to building and maintaining major projects. Under the Infrastructure Investment and Jobs Act alone, 72 programs "emphasize or allow some type of workforce development activity," a Brookings report found.

Persons: —, Joe Biden, Joseph Kane, Charles Marohn, Marohn, Kane, Drew Angerer, it's, Biden, It's, Greg Gianforte Organizations: Service, American Society of Civil Engineers, Infrastructure Investment, Jobs, Business, Transportation, Brookings Institution, Rail, Potomac, White House, Texas Department, US Department of Transportation, Michigan's, Grant, they're, Biden, Builders and Contractors, Congress, Jobs Act, Brookings Locations: Washington, Strong, Baltimore, Los Angeles, San Francisco, Long, New York, Austin, Austinites, America, Detroit, Brookings, Montana

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

☆ Population and economy in South Carolina are booming
▼ + stars: | 2024-02-24 | by ( Tami Luhby | Alicia Wallace | ) edition.cnn.com time to read: +12 min

“And, of course, South Carolina is in the heart of the Southeast.”Job seekers check-in to a job fair at a Schneider Electric manufacturing facility in Hopkins, South Carolina, in January 2023. “You can reach about twice as many people within an 8-hour drive from South Carolina as you can from Florida,” he said. “The housing market and the manufacturing industry, particularly in South Carolina, saw a major increase in demand,” Von Nessen said. South Carolina home sale activity fell by double-digits in 2022 but has since started to stabilize, he said. “We’re just treating so many more patients that we don’t have capacity,” said Thornton Kirby, CEO of the South Carolina Hospital Association.

Persons: ” Joseph Von Nessen, Darla Moore, ” Von Nessen, ”, it’s, It’s, Sean Rayford, Barrie Kirk, “, Von Nessen, Micah Green, “ We’re, Thornton Kirby, Malcolm Isley, “ We’ve, ” Isley, Arnold Kamler, Inc . Kent, Kent, Kamler, Nikki Haley, —, Daniel Slim, Scott Huffmon, Donald Trump, Haley, they’d Organizations: CNN, Palmetto State, of Labor Statistics, University of South, of Business, North, SC Council, Competitiveness, Bureau of Labor Statistics, Labor, Midlands Technical College, Technical College Midlands Technical College, Schneider, Bloomberg, Getty, Census, US Federal Reserve, US News, South Carolina Hospital Association, “, Prisma, Health Prisma Health, Greenville Technical College, Health Center for Health, Life Sciences, Kent International, Walmart, Kent, Inc ., Winthrop University, —, Charleston City Market, Winthrop’s Center, Public, Research, Palmetto, Republican, Trump, CBS Locations: South Carolina, South, “, Carolina, Myrtle Beach , South Carolina, North America, University of South Carolina, West Columbia, United States, Hopkins , South Carolina, Florida, droves, Myrtle Beach, ’, Manning, New York City, Georgia, Charleston, AFP

☆ Strong economic growth but high unemployment: A look at Nevada’s economy
▼ + stars: | 2024-02-08 | by ( Alicia Wallace | Tami Luhby | ) edition.cnn.com time to read: +13 min

In Las Vegas, the cacophony of voices, music, ringing slot machines and car horns that typically pulsed through the Las Vegas Strip was replaced by silence, the chirps of birds and the wails of sirens. In tourism-dependent Nevada, the unemployment rate rocketed even higher, topping out at 30.6% that month. “This is an unemployment rate that’s not driven by job losers, this is an unemployment rate driven by job seekers,” he said. Homes under construction in the Summerlin community, on July 31, 2023, in Las Vegas, Nevada. As of December 2023, the Reno metro area’s unemployment rate was just 0.2 percentage points above the nation’s 3.7% rate.

Persons: John Simpson, Steve, Sisolak, ” Simpson, It’s, ”, they’re, I’ve, Stephen M, Miller, Mario Tama, Bob Potts, there’s, There’s, Nevadans, Annie E, Casey Foundation’s, Jamelle Nance, Marty Elquist, ” Elquist, “, Andrew Woods, Nicholas Irwin, Start’s Simpson, Irwin, Ethan Miller, Maurice Page, Page, Tesla, ” Potts, Carolyn Cole, Potts, You’ve, you’ve Organizations: CNN, Las, Republican Party, of Labor Statistics, University of Nevada, Lee Business School’s Center for Business, Economic Research, New York, Nevada Governor’s, Economic, Las Vegas, New, Workforce, Children’s, Alliance of Nevada, Education, Development, Silver State, Center for Business, UNLV, Reno, ”, Homes, Nevada Housing Coalition, Harvard University’s, for Housing Studies, Silver, Means, Reno Industrial Park, Apple, Panasonic, Google, Reno Industrial, Los Angeles Times, NCAA, NFL, NFL Pro Bowl Locations: Nevada, Las Vegas, Reno, ” Nevada, State, New York, New, Las, New Mexico, Vegas, “ Nevada, Silver, UNLV . Nevada, California, Sparks, Las Vegas , Nevada, Florida, Hawaii, Clark County, Sparks , Nevada, New Orleans, Denver, Southern Nevada, Northern Nevada, Los Angeles

☆ ChatGPT is already stealing work from freelancers
▼ + stars: | 2023-12-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

The popularity of ChatGPT has already led to lower earnings for some Upwork and Fiverr freelancers. AdvertisementLast year, a record 39% of the US workforce did freelance work , per the freelance platform Upwork. It's not just Upwork freelancers who are earning less. He said he's seen some freelancers' earnings fall from roughly $2,500 to $3,000 per month to around $1,000 today. Some freelancers have found work as AI content editors, which often involves editing, fact-checking, and giving a human touch to clients' AI-generated content.

Persons: ChatGPT, —, he's, @xianghui90 @oren_reshef @Zhou_Yu_AI, kbtp8uDUPU, John Burn, Murdoch, Carl Benedikt Frey, Mark Muro, it's, Fiverr, Ben Baker, Baker Organizations: Service, Washington University, New York University, Brookings Institution Locations: St, Louis, Australia, @jburnmurdoch, Oxford

Evers has previously vetoed a similar income tax cut passed by the Legislature. Republicans gutted a $1 billion Evers proposal to invest in child care he called on the Legislature to pass in a special session in September. Instead, the Legislature passed a measure that would have cut income taxes, created a child care tax credit, and increased income tax deductions for private school tuition. Republicans who control the Legislature remain in talks with university leaders about funding the engineering building. The Wisconsin Alumni Association is also funding an advertising campaign about the need for more engineers in the state.

Persons: Tony Evers, “, ” Evers, Evers, Devin LeMahieu, ”, Robin Vos, Vos Organizations: —, Democratic, Legislature, Republicans, Republican, University of Wisconsin, UW, Madison, Wisconsin Alumni Locations: MADISON, Wis, Wisconsin

WASHINGTON (AP) — The White House on Monday announced a strategy to potentially expand the availability of radio spectrum needed for cellphones, satellites, navigation, space travel and other emerging technologies. The increasingly digitized and mobile economy has put pressure on the available range of frequencies used for wireless communication. “We all understand the spectrum is crowded, demand is growing fast,” said Arati Prabhakar, director of the White House Office of Science and Technology Policy. The National Telecommunications Information Administration will perform a two-year study on how to possibly repurpose 2,786 megahertz of spectrum, which could be used for wireless broadband, drones, and satellites. There will also be coordination among government agencies, encouragement of innovation in the sector and workforce development as part of the strategy.

Persons: ”, Arati Prabhakar Organizations: WASHINGTON, White, Office of Science, Technology, Federal Communications Commission, National Telecommunications Information Administration

RICHMOND, Va. (AP) — Virginia's state House will soon have its first Black speaker in its more than 400-year history after the chamber's incoming Democratic majority on Saturday chose Del. Scott was unanimously elected speaker-designee by the House Democratic Caucus, the group said in a news release. The full House of Delegates will vote to officially confirm him on the first day of the 2024 legislative session. “Virginia voters sent a resounding message on Tuesday that they wanted a Commonwealth that moved forward and that is exactly what I intend to do as your next Speaker,” Scott said in a statement. House Republicans were expected to vote Sunday.

Persons: Del, Don Scott, Scott, Virginia, ” Scott, Glenn Youngkin, Youngkin, Richmond —, “, We’re, ”, Youngkin's, Breit, designee, Eileen, Todd Gilbert, Charniele Herring, Alexandria, Kathy Tran, Tran, Terry Kilgore, Gilbert Organizations: —, Democratic, House Democratic Caucus, GOP, U.S . Navy, Portsmouth, Virginia Democrats, Navy, Republicans, Youngkin, Virginia voters, Virginia, Republican, ”, Democrats, American, Pacific, Senate Democratic Locations: RICHMOND, Va, Commonwealth, Tuesday's, Virginia, Texas, Fairfax County

A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022. Battery storage is expected to support 48,000 jobs, and solar is expected to support 35,000, both annually for five years. “As community colleges develop a rhythm for training the type of workers these companies need, that’s going to enhance the appeal of our workforce and state as a business location to more and more these clean energy companies," he said. Although investments in clean energy are “on hyperdrive,” other factors were supporting the clean energy labor transition before the IRA, said Joseph Kane, a researcher at the Brookings Institution nonprofit research organization. Labor shortages in the clean energy sector, particularly in construction, manufacturing, and electrical work are notable, said Thomas Kwan, director of sustainability research at Schneider Electric, an energy management and industrial automation company.

Persons: “, Bob Keefe, Mateo Jaramillo, ” Jaramillo, Christopher Chung, ”, Chung, Joseph Kane, Kane, Thomas Kwan, Kwan Organizations: Environmental Entrepreneurs, EV, Economic Development, of, Brookings Institution, Labor, Schneider Electric, AP Locations: U.S, Weirton , West Virginia, West Virginia, of North Carolina, North Carolina

☆ Goldman Sachs asked over 2,000 Black women in the US about their money and the numbers are grim — but ripe for change
▼ + stars: | 2023-11-01 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementGoldman Sachs' Black Women Initiative released a new report that asked over 2,000 Black women about money. In an effort to shed light on critical workforce disparities affecting Black women, Goldman Sachs' Black Women Initiative released a new report: "Money Matters: One Million Black Women Economic Mobility Survey." In fact, 63% of Black women report that they are optimistic about their futures. This comprehensive investment in Black women includes direct investing, which emphasizes financial health and digital connectivity across areas that directly impact Black women and their lives. It's led by Black women, advised by a council of Black leaders from across the country in partnership with Black women-led organizations, and most importantly centers Black women with the goal of positively impacting over 215,000 Black women across the core investment pillars of healthcare, job creation and workforce development, education, affordable housing, digital connectivity, financial health, and access to capital.

Persons: Goldman Sachs, —, Asahi Pompey, It's, Black, Pompey Organizations: Service, Economic Mobility Survey, Asahi, Goldman Sachs Foundation, Goldman, Goldman Sachs Investment Locations: Black, America, United States

☆ The biggest winners — and losers — in the coming AI job apocalypse
▼ + stars: | 2023-11-01 | by ( Emil Skandul | ) www.businessinsider.com time to read: +10 min

In fact, as other long-term trends take hold, many of these working-class roles are poised for a job explosion. While manufacturing jobs as a whole are expected to stay flat, spending in this industry has boomed to $200 billion each year, tripling in the past five years. "What characterizes the physical labor jobs that are safe for the next five or 10 years are things that are in an unpredictable physical environment," Kweilin Ellingrud, a McKinsey Global Institute director, told me. Instead of replacing these jobs, AI will likely benefit specific roles by making it easier to do the most routine parts of the job. He added: "There are these jobs that are in a middle ground where the physical work may remain but the supervision might be more exposed."

Persons: plumbers, Philip Levine, there's, Mark Muro, barometers, OpenAI, Ellingrud, Muro, Emil Skandul, Tony Blair Organizations: Ford, US Bureau of Labor Statistics, Brookings Institution, Accenture, Bureau of Labor Statistics, McKinsey, McKinsey Global Institute, Research, Tony Blair Institute Locations: American, America

☆ Explainer: Biden combines billions in chipmaking grants with China curbs to keep US ahead
▼ + stars: | 2023-10-17 | by ( Alexandra Alper | ) www.reuters.com time to read: +4 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Those rules aimed to stem the flow of high-end American artificial intelligence chips and chipmaking tools into China. The United States has been locked in a technology war with China since former President Trump blacklisted Chinese telecoms giant Huawei in 2019. BILLIONS FOR CHIPSThe United States, meanwhile, has been helping non-Chinese chipmakers negotiate with states like Arizona, Texas and New York to set up shop or grow existing operations. According to the Semiconductor Industry Association, the share of global semiconductor manufacturing capacity in the U.S. has decreased from 37% in 1990 to 12% in 2022.

Persons: Florence Lo, Biden, Emily Kilcrease, Trump, Joe Biden, ”, Peter Harrell, TSMC, Alexandra Alper, Jonathan Oatis Organizations: REUTERS, Rights, U.S, Center, New, New American Security, Trade Representative, United, Huawei, Biden, chipmaker Micron, Semiconductor Industry Association, Samsung, Intel, Companies, Chips, Science, Thomson Locations: China, United States, New American, U.S, Arizona , Texas, New York, South, Ohio, Taiwan

☆ Chipmaker GlobalFoundries seeks funding under CHIPS Act
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

A signage at U.S. chipmaker GlobalFoundries' new fabrication plant in Singapore, September 12, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsSept 25 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and modernize its local manufacturing facilities. The CHIPS and Science Act provides a total of $52.7 billion in subsidies for U.S. semiconductor production, research and workforce development. It also includes a 25% investment tax credit for building chip plants estimated to be worth $24 billion. Malta, New York-based GlobalFoundries makes wireless connectivity chips used in mobile phones, WiFi routers and radio towers.

Persons: chipmaker, Edgar Su, Steven Grasso, Lockheed Martin, Jaspreet Singh, Shilpi Majumdar Organizations: REUTERS, U.S . Commerce Department, Lockheed, Thomson Locations: Singapore, U.S, Malta , New York, Bengaluru

Lauren WeberLauren Weber writes about workplace issues and employment in The Wall Street Journal's corporate bureau in New York. Her stories often explore topics such as workforce development and skills, contingent work, compensation, the bonds between employers and workers, and the intersection between economic trends and the on-the-ground practices of employers. A former Knight-Bagehot fellow at Columbia University, Lauren has won awards from the Society for Advancing Business Editing and Writing and the Newswomen's Club of New York, and she was part of a team that won a Gerald Loeb award in 2019 for reporting on Amazon's search for a second headquarters. Lauren has also been a staff reporter at Reuters and Newsday, and she is the author of the 2009 book "In Cheap We Trust: The Story of a Misunderstood American Virtue," a cultural history of frugality and cheapness in the United States. Lauren can be reached at lauren.weber@wsj.com; you can also find her on Twitter at @laurenweberWSJ.

Persons: Lauren Weber Lauren Weber, Lauren, Gerald Loeb Organizations: Columbia University, Society for, Newswomen's, of New, Reuters, Newsday, Twitter Locations: New York, of New York, American, United States, lauren.weber@wsj.com

☆ California governor vetoes bill banning robotrucks without safety drivers
▼ + stars: | 2023-09-23 | by ( Abhirup Roy | ) www.reuters.com time to read: +3 min

A veto by the governor can still be overturned if the legislature chooses to vote in favor of the bill with a two-thirds majority in each house. While many states, including Texas and Arkansas, have allowed the testing and operation of self-driving trucks, California - home to Alphabet (GOOGL.O), Apple (AAPL.O) and some of the most cutting-edge tech startups - bars autonomous trucks weighing more than 10,001 pounds. Developing autonomous technology has proved harder and more expensive than expected, leading to job cuts and even companies shutting shop. But labor unions led by the International Brotherhood of Teamsters have been calling for Governor Newsom to sign the bill, saying autonomous trucks - some of which weigh over 80,000 pounds - were unsafe and would lead to job losses. Governor Newsom in his veto message said any regulations framed by the department of motor vehicles would be transparent, with inputs from stakeholders and experts to ensure safety.

Persons: Tina Bellon, Gavin Newsom, Bill, Newsom, Abhirup Roy, Jan Harvey Organizations: REUTERS, FRANCISCO, U.S, Apple, Reuters, Daimler, Kodiak Robotics, International Brotherhood of Teamsters, Thomson Locations: Palmer, Dallas , Texas, U.S, California, Texas, Arkansas, Aurora, Southern California, San Francisco

☆ US finalizes rules to prevent China from benefiting from $52 billion in chips funding
▼ + stars: | 2023-09-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The regulation is the final hurdle before the Biden administration can begin awarding $39 billion in subsidies for semiconductor production. The landmark "Chips and Science" law provides $52.7 billion for U.S. semiconductor production, research and workforce development. The regulation prohibits funding recipients from significantly expanding semiconductor manufacturing capacity in foreign countries of concern for 10 years. The final rules prohibit material expansion of semiconductor manufacturing capacity for leading-edge and advanced facilities in foreign countries of concern for 10 years. The final rule ties expanded semiconductor manufacturing capacity to adding cleanroom or other physical space, defining material expansions as increasing production capacity by more than 5%.

Persons: Florence Lo, Biden, Gina Raimondo, Raimondo, David Shepardson, Kim Coghill Organizations: REUTERS, Rights, U.S . Commerce Department, Commerce Department, Thomson Locations: China, U.S, Russia

NEW YORK (AP) — The HBCU Transformation Project, a coalition of 40 historically Black colleges and universities, on Wednesday announced a $124 million gift from philanthropic funders Blue Meridian Partners to increase enrollment, graduation rates and employment rates for the schools' graduates. “This very significantly scaled grant from them signals to the philanthropic community that this is a really good investment to make,” he said of the Blue Meridian gift. The donation will expand the work of the project, which has already received $75 million from Blue Meridian Partners since 2020. Blue Meridian Partners also provided funds to those organizations to improve their capacity to support the schools. HBCUs have received significantly less support from philanthropic foundations than predominantly white schools.

Persons: Michael Lomax, ”, Lomax, HBCUs, George Floyd Organizations: Wednesday, Blue Meridian Partners, Blue Meridian, Thurgood Marshall College Fund, for Education Advancement, Department of Education, Ivy League, HBCUs, Associated, Lilly Endowment Inc, AP Locations: UNCF, Black

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