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☆ Samsung flags 78% profit drop as chip demand remains weak
▼ + stars: | 2023-10-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Samsung warned that operating profit in the third quarter likely plunged 78% as it continues to contend with lower than usual demand for consumer devices. The South Korean tech giant released earnings estimates Wednesday, forecasting operating profit of about 2.4 trillion Korean won ($1.8 billion) for the three months ended September. That compares with 10.85 trillion won ($8 billion) in the same period last year. The firm’s operating profit plummeted 95% in the first quarter, following a record loss in its semiconductor business. Samsung has also told shareholders it anticipates a gradual comeback in global demand in the second half of the year.

Persons: Bain, “ Organizations: Hong Kong CNN, Samsung, South, Revenue, Counterpoint Research, Nomura Locations: Hong Kong, North America, Seoul

☆ Cracks are forming in the auto industry, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-10-11 | 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 EmailCracks are forming in the auto industry, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein Research managing direction and senior analyst, joins 'Closing Bell' to discuss the semiconductor industry outlook ahead of earnings, cracks in the autos industry, and more.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon Organizations: Bernstein Research

At issue is RISC-V, pronounced "risk five," an open-source technology that competes with costly proprietary technology from British semiconductor and software design company Arm Holdings (O9Ty.F). RISC-V can be used as a key ingredient for anything from a smartphone chip to advanced processors for artificial intelligence. The RISC-V technology came from labs at the University of California, Berkeley, and later benefited from funding by the Pentagon's Defense Advanced Research Projects Agency (DARPA). Its executives said in August they believe RISC-V will speed up chip innovation and transform the tech industry. Jack Kang, vice president of business development at SiFive, a Santa Clara, California-based startup using RISC-V, said potential U.S. government restrictions on American companies regarding RISC-V would be a "tremendous tragedy."

Persons: Florence Lo, Joe Biden's, Marco Rubio, Mark Warner, Mike Gallagher, Biden, Michael McCaul, McCaul, " Rubio, Warner, Jack Kang, Kang, Kevin Wolf, Akin Gump, Barack Obama, Wolf, Max A, Cherney, Stephen Nellis, Will Dunham, Kenneth Li Organizations: REUTERS, U.S ., Arm Holdings, Republican, Democratic, Reuters, Commerce Department, People's, CCP, Chinese Communist Party, House Foreign Affairs, of Industry, Security, Commerce, University of California, Pentagon's Defense, Research Projects Agency, DARPA, HUAWEI, Huawei Technologies, Qualcomm, Google, Thomson Locations: China, U.S, Beijing, People's Republic of China, Communist China, Swiss, Berkeley, United States, SiFive, Santa Clara , California, San Francisco

☆ TSMC is stalling an agreement that would make its Phoenix plant safer and more efficient, an Arizona union says
▼ + stars: | 2023-10-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

TSMC and a group of unions are in talks to address Arizona workers' safety and training concerns. AdvertisementAdvertisementThe monthslong feud between the world's leading chipmaker and the union workers building its Arizona factory isn't over. "We've had discussions with TSMC , and we've provided what we feel is a good framework for an agreement," she said. The unions are specifically seeking a project-labor agreement, a legally binding collective bargaining agreement that is unique to the construction industry. The TSMC construction site in Phoenix.

Persons: —, Brandi Devlin, hadn't, TSMC, We've, we've, we're, Devlin, Jacob Zinkula, Joe Biden, Gina Raimondo, Arizona, Phoenix hasn't, Aaron Butler Organizations: Service, Taiwan Semiconductor Manufacturing Co, Arizona, PLAs, chipmaker Micron, US, Phoenix Jacob, Department of Commerce, Commerce Department Locations: Arizona, New York, Phoenix, China, America, TSMC, Taiwan

☆ Evercore ISI calls Nvidia a top play as the earnings season approaches
▼ + stars: | 2023-10-05 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Evercore ISI is bullish Nvidia , the best-performing S & P 500 stock this year, as the latest earnings season approaches. "NVIDIA remains our top pick overall, positioned well into earnings season based on sustainability of AI spend and beat/raise on the come," analyst Matthew Prisco said in a Thursday note. The corporate earnings season kicks off next week, with big banks JPMorgan Chase, Wells Fargo and Citigroup slated to report. He highlighted Nvidia as one of the few semiconductor leaders that screen attractively in earnings power for 2025. "Simply put, it is too early to get off the AI train—NVDA remains our favorite play here."

Persons: Matthew Prisco, Wells, Prisco, Michael Bloom Organizations: ISI, Nvidia, NVIDIA, JPMorgan Chase, Citigroup Locations: Wells Fargo

☆ Intel plans to IPO programmable chip unit within three years; stock rises after hours
▼ + stars: | 2023-10-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Intel said it will treat its programmable chip unit as as a standalone business, with an aim to spin it out through an IPO in the next two to three years. Intel's Programmable Solutions Group will have its own balance sheet as it heads toward independence. The move also highlights the strong demand in the semiconductor industry for field programmable gate arrays, or FPGAs. Intel's FPGAs are sold under the Agilex brand. Intel doesn't break out PSG sales yet, but said in July that the unit had three record quarters in a row, offsetting a slump in server chip sales.

Persons: Pat Gelsinger, Sandra Rivera, Patrick Gelsinger, Gelsinger Organizations: Intel Corporation, Senate Commerce, Science, Innovation, Russell, Intel, Programmable Solutions, Center, PSG, Taiwan Semiconductor Manufacturing, Lattice Semiconductor, AMD, Intel's Data Locations: Mobileye

CNN —The 2023 Nobel Prize in physics has been awarded to a team of scientists who created a ground-breaking technique using lasers to understand the extremely rapid movements of electrons, which were previously thought impossible to follow. “An attosecond is to one second as one second is to the age of the universe,” the committee explained. Pierre Agostini, Ferenc Krausz and Anne L'Huillier shared this year's physics prize. Rapid movements blur together, making extremely short events impossible to observe. Electrons’ movements in atoms and molecules are so rapid that they are measured in attoseconds.

Persons: Pierre Agostini, Ferenc Krausz, Anne L’Huillier “, “, Bob Rosner, ”, Rosner, Anne L'Huillier, Max Planck, ” L’Huillier, Hans Ellegren, L’Huillier, Olle Eriksson, —, Michael Moloney, ” Moloney Organizations: CNN, American Physical Society, University of Chicago, Ohio State University, Max, Quantum Optics, National Academy of Sciences, Lund University, Max Planck, Royal Swedish Academy of Sciences, Uppsala University, American Institute of Physics Locations: Stockholm, Sweden, Germany

☆ Intel hails 'landmark' as high-volume EUV production begins at Irish plant
▼ + stars: | 2023-09-29 | by ( Padraic Halpin | Max A. Cherney | ) www.reuters.com time to read: +2 min

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The effort in Ireland is Intel’s first attempt at high-volume manufacturing using EUV technology. Beyond its existing facilities in Ireland, Intel plans to build a big chip complex in Germany and semiconductor assembly and test facility in Poland. The three facilities will help create a first-of-its-kind end-to-end advanced semiconductor manufacturing value chain in Europe, Intel said. The new factory will double Intel’s manufacturing space in Ireland, where it is one of the country’s largest multinational employers with 4,900 people, around half its European workforce.

Persons: Dado Ruvic, Intel’s, ” Ann Kelleher Organizations: DUBLIN, Reuters, Intel, REUTERS, U.S ., Taiwan Semiconductor Manufacturing, PCs, U.S Locations: Ireland, U.S, Europe, Leixlip, Dublin, Portland, Hillsboro , Oregon, Arizona, Germany, Poland

☆ Taiwan aims to shed dirty power reputation with big wind push: Maguire
▼ + stars: | 2023-09-28 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

WIND POWERED GROWTHSolar power was Taiwan's largest source of renewable energy generation in 2022, with 10.69 terawatt hours (TWh) of electricity produced, compared to 3.53 TWh from wind. In comparison, fossil fuels generated 239 TWh of Taiwan's electricity last year, Ember data shows. REGIONAL REPERCUSSIONSDespite jitters from some developers, overall progress on Taiwan's wind projects continues, and new investments in major offshore ventures were announced just this month by Japanese trading house Mitsui & Co. The continued construction of Taiwan's renewable energy capacity has repercussions for both its domestic power sector and for global fossil fuel export markets. The country's famed semiconductor industry, the world's largest, is aiding the national push for greater renewable energy generation, and has set itself a goal of being powered by 100% green energy supplies by 2040.

Persons: Thomas Peter Acquire, Gavin Maguire, Simon Cameron, Moore Organizations: REUTERS, China, Global Energy Monitor, Japan's, Mitsui, Co, Reuters, Thomson Locations: Taiwan, Pingtan, Fujian province, China, LITTLETON , Colorado, Asia, South Korea, Japan, India, Taipei, Beijing, Kpler

☆ Micron shares fall as demand recovery 'off to slow start'
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. "The recovery path is off to a slow start," analysts at Evercore ISI said in a note. Micron is also working to become a supplier to AI chip giant Nvidia (NVDA.O), it said on Wednesday. The company forecast adjusted loss per share of $1.07 for the current quarter, steeper than analysts' estimates for a 95 cents-per-share loss. Those losses have largely been recouped, with its shares rising about 36% in 2023 as investors hoped for a recovery.

Persons: Kai Pfaffenbach, Micron's, Chavi Mehta, Yuvraj Malik, Devika Organizations: REUTERS, Micron, Evercore, Nvidia, Citigroup, LSEG, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ China's chip equipment firms see revenue surge as Beijing seeks semiconductor self-reliance
▼ + stars: | 2023-09-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Washington has sought to use export restrictions to cut off Beijing from key semiconductor equipment and technologies. China's domestic semiconductor industry has previously heavily relied on foreign companies for these tools, leaving Beijing's industry behind the likes of the U.S., South Korea and Taiwan. That has underpinned the boost in revenues for China's domestic chip equipment manufacturing firms. CINNO names Naura Technology Group Co. as the top Chinese semiconductor equipment maker by revenue. The second-largest Chinese domestic player is Advanced Micro-Fabrication Equipment Inc. China (AMEC), which makes machines required for the semiconductor manufacturing process.

Persons: Florence Lo, CINNO Organizations: Reuters Revenue, Semiconductors, U.S, Huawei, China's, Naura Technology, Inc . China Locations: China, Beijing, Shanghai, China . Washington, U.S, South Korea, Taiwan

☆ China's funding round to boost chip industry struggling to raise target of $41 bln - FT
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: 1 min

A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSept 27 (Reuters) - The funding round launched by China to support its semiconductor industry is struggling in the initial phases to raise its target of 300 billion yuan ($41.1 billion), with the difficult economic climate being blamed, the Financial Times reported, citing people familiar with the situation. ($1 = 7.3039 Chinese yuan)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Jahnavi, Jacqueline Wong Organizations: REUTERS, Financial Times, Thomson Locations: China, Bengaluru

☆ Singapore is 'well positioned' for the AI boom, says Singapore Semiconductor Industry Association
▼ + stars: | 2023-09-26 | 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 EmailSingapore is 'well positioned' for the AI boom, says Singapore Semiconductor Industry AssociationAng Wee Seng, executive director of the Singapore Semiconductor Industry Association, says the country is one of the largest exporters of chips.

Persons: Singapore Semiconductor Industry Association Ang Wee Seng Organizations: Singapore, Singapore Semiconductor Industry Association Ang, Singapore Semiconductor Industry Association

☆ A fund manager at a $250 billion firm that aims to capture megatrends shares the top 10 stocks pulled from its 12 strategies
▼ + stars: | 2023-09-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Gertjan van der Geer, a senior investment manager at the firm, describes megatrends as large social, economic, political, environmental, or technological transformations that significantly impact the economy, society, cultures, or businesses. Additionally, five criteria must be met before Pictet creates a thematic fund, van der Geer said. When it comes down to picking the right basket of stocks, van der Geer noted that a company's fundamentals are key. And there are a few things that we are looking for in these companies," van der Geer said. And one of the key ways to improve our CO2 footprint globally is to reduce the unnecessary pollution," van der Geer said.

Persons: they're, Gertjan van der Geer, Pictet, van der Geer, It's, Van der Geer Organizations: Microsoft, Apple, Pictet, Management, Premium Brands, Security, Health, Schneider, Clean Energy, Nordisk, Asml, Roper Technologies, Kla Corp, Republic Services Locations: megatrends

Menendez said he decided to step down temporarily as chairman of the Senate Foreign Relations Committee. Menendez has been a crucial partner for Biden on these and other foreign policy priorities. "Like him or dislike him, Menendez has played an incredibly influential role when it comes to shaping U.S. foreign policy," said Daniel Vajdich, a Republican former Foreign Relations Committee staffer. Vajdich noted that Menendez's departure adds to uncertainty on Capitol Hill about foreign policy, given sharp divisions among Republicans, who control the House of Representatives, on issues like aid to Ukraine. Under Senate Democratic Conference rules, any member charged with a felony must give up his or her committee leadership position.

Persons: Bob Menendez, Elizabeth Frantz, Joe Biden, Menendez, Biden, Daniel Vajdich, Vajdich, Ben Cardin, Karine Jean, Pierre, Suzanne Wrasse, Jim Risch, Risch, Barack Obama's, Patricia Zengerle, Don Durfee, Timothy Gardner Organizations: REUTERS, Rights, Democratic, Senate Foreign Relations, Justice Department, Russian, Senate, Ukraine, Republican, Foreign Relations, Hill, Republicans, White House, Senate Democratic Conference, Thomson Locations: Washington , U.S, Ukraine, China . U.S, New Jersey, China, United States, UKRAINE, Kyiv, Iran

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

☆ G.O.P. Candidates Focus on China to Demonstrate Foreign Policy Credentials
▼ + stars: | 2023-09-21 | by ( Michael Gold | More About Michael Gold | ) www.nytimes.com time to read: +1 min

By focusing on China, the candidates can make detailed policy pronouncements and play up their credentials, yet avoid discussion of Russia or Ukraine, an increasingly divisive topic among Republicans. All of the candidates have blasted President Biden’s attitude toward China. One of the Biden administration’s focal points has been targeting China’s semiconductor industry. The administration has enacted export controls and helped push the CHIPS and Science Act, a bipartisan law that provided billions of dollars toward fostering a homegrown semiconductor industry that could make America less dependent on foreign suppliers. “I am opposed to the CHIPS Act,” he said, “because it is really the Green New Deal masquerading in CHIPS masquerade clothing.”

Persons: Trump, Biden, Ramaswamy, ” Organizations: Republican, Intel, Green Locations: Beijing, China, Russia, Ukraine, America

REUTERS/Beawiharta Acquire Licensing RightsLONDON, Sept 20 (Reuters) - London Metal Exchange (LME) stocks of tin have grown steadily over the summer months and have reached levels last seen in April 2020. Around half of the tin produced every year is used as a soldering material on circuit boards, linking usage to the fortunes of the consumer electronics sector. Global semiconductor sales from SIABOOM AND BUSTTin's fortunes are closely tied to the consumer electronics sector, which has experienced a remarkable boom-and-bust cycle over the last three years. That translated into a boom year for tin demand, usage growing by 7.6%, led by a 12.2% rise in the soldering sector, according to the International Tin Association. However, global semiconductor sales have registered small month-on-month increases since April and the year-on-year gap narrowed to 11.8% in July, according to the SIA.

Persons: Lockdowns, Boom, Barbara Lewis Organizations: PT Timah, REUTERS, London Metal Exchange, Shanghai Futures Exchange, SIA, Semiconductor, Semiconductor Industry Association, International Tin Association, World Semiconductor Trade Statistics, Wa State, Reuters, Thomson Locations: Mentok, Indonesian, Bangka, Myanmar, London, Shanghai, Wa, China

☆ Defense Department Awards Chip Funding to Fuel Domestic Research
▼ + stars: | 2023-09-20 | by ( Ana Swanson | More About Ana Swanson | ) www.nytimes.com time to read: +1 min

The Biden administration on Wednesday announced that it was awarding $238 million through the Defense Department to set up eight hubs around the United States for promoting innovation in the semiconductor industry. The funds are one of the earliest releases of the nearly $53 billion in grants and subsidies that Congress and the Biden administration have approved to build up the domestic semiconductor industry, which U.S. officials say has been left vulnerable by decades of offshoring. The Biden administration has a variety of funding programs in the works to encourage chip research institutions and manufacturers to set up operations in the United States. Most of these programs are run through the Commerce Department, and many will begin handing out money this fall. While U.S. companies still design many of the world’s most advanced chips, much of the manufacturing of the technology has been outsourced to foreign locations, including Taiwan, leaving U.S. chip supply vulnerable if, for example, the Chinese government were to invade Taiwan.

Persons: Biden Organizations: Wednesday, Defense Department, Commerce Department, U.S Locations: United States, U.S, Taiwan

☆ Vietnam PM courts U.S. companies, seeks investment in chip sector
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Chinh pledged to facilitate future investments by Nvidia and Synopsys in Vietnam, the statement said. The statement quoted Nvidia CEO Jensen Huang as telling Chinh that "Nvidia wants to cooperate with Vietnam in semiconductor, information technology and artificial intelligence." Synopsys, which has plans to build chip design centres in Vietnam, on Monday signed memorandums of understanding with Vietnam's information ministry and with the investment ministry. Nvidia, a top supplier of servers to Vietnam, and Synopsys did not immediately respond to Reuters requests for comment.

Persons: Florence Lo, Pham Minh Chinh, Joe Biden, Chinh, Jensen Huang, Synopsys, Amkor, Khanh Vu, Edwina Gibbs Organizations: REUTERS, Rights, Nvidia, U.S, Synopsys, Monday, Intel, United Nations General Assembly, Thomson Locations: Rights HANOI, Vietnam, San Francisco, United States, Hanoi, Chinh, U.S, Brazil

☆ Huawei's chip breakthrough poses new threat to Apple in China — and questions for Washington
▼ + stars: | 2023-09-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +7 min

There is no Chinese company that can do what TSMC does. Along with Huawei, SMIC is on a U.S. trade blacklist called the Entity List. The 7nm process is seen as highly-advanced in the world of semiconductors, even though it is not the latest technology. While SMIC is able to create 7nm chips, it's unclear how efficient, profitable and sustainable that is on a bigger scale. While the yield of SMIC's 7nm process for Huawei chips is not known, it is "probably low," Kotasthane said.

Persons: Aly Song, Donald Trump, shockwaves, SMIC, Dan Hutcheson, Kotasthane Organizations: Apple, Reuters Apple, Huawei, China's, Chinese Communist Party, U.S ., Samsung, Taiwan Semiconductor Manufacturing Co, SMIC, 5G, CNBC, Takshashila, The U.S . Department of Commerce, Street, China's Ministry of Foreign Affairs, U.S Locations: Shanghai, China, U.S, Washington, . U.S, The

☆ US lawmaker to urge chip industry group to reduce China investments -source
▼ + stars: | 2023-09-19 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Nathan Howard/File Photo Acquire Licensing RightsSept 19 (Reuters) - The chair of the U.S. House of Representatives' committee on China is planning to meet with a semiconductor industry group to express concerns over U.S. investments in China's chip industry, according to a source familiar with the matter. The group represents major chip firms such as Nvidia (NVDA.O) and Intel (INTC.O), whose sales to China have been affected by recent changes in U.S. export rules. The source added that Gallagher also aims to talk with the group about reducing the number of semiconductor manufacturing machines that could be sent to China. Also among the planned discussion topics is U.S. investment in Chinese chip firms, according to the source. A representative for the Semiconductor Industry Association declined to comment.

Persons: Mike Gallagher, Nathan Howard, Biden, Gallagher, Stephen Nellis, Nick Zieminski, Rosalba O'Brien Organizations: Republican U.S . Rep, U.S, Capitol, REUTERS, U.S . House, Representatives, Republican, Semiconductor Industry Association, Nvidia, Intel, Qualcomm, San, Thomson Locations: Washington , U.S, China, San Francisco

☆ This chipmaker 'can be a leader' that sparks gains in other semiconductor stocks, Cramer says
▼ + stars: | 2023-09-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

Micron Technology (MU) is a stock to watch within the semiconductor industry, CNBC's Jim Cramer said Monday. Cramer's comments Monday came after Deutsche Bank analysts upgraded Micron shares to buy, from hold. Micron stock climbed modestly in Monday trading. Cramer suggested that if the conditions Deutsche Bank analysts describe are correct, "this group is a leadership group." The Club just did an in-depth report on all 11 sectors of the market, the industries within those sectors, and where the 35 stocks owned by Cramer's Trust fit in.

Persons: CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Micron Technology, AMD, Micro Devices, Micron, Deutsche Bank, Nvidia, Broadcom, Cramer's Charitable Trust, CNBC, Club, Information Technology, Cramer's Trust

SoftBank CFO Yoshimitsu Goto and Arm Holdings CEO Rene Haas pose for a photo at the Nasdaq MarketSite on September 14, 2023 in New York City. Shares of chip design company Arm Holdings started trading on the Nasdaq Thursday morning in a long-anticipated IPO at a share price of $56.10, valuing the company at $59.9 billion. Arm Holdings sold around 95.5 million shares on the Nasdaq. Softbank, which took the company private in 2016, will control around 90% of Arm's shares outstanding. At a $54 billion valuation, Arm's price-to-earnings multiple would be about 104 based on the most recent fiscal year profit.

Persons: Yoshimitsu Goto, Rene Haas, Arm, Masayoshi Son Organizations: Arm, Nasdaq, Arm Holdings, Apple, Google, Samsung, CNBC Locations: New York City, British

☆ Senate Committee Backs Bill to Deepen U.S. Economic Ties With Taiwan
▼ + stars: | 2023-09-14 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The United States established diplomatic ties with China in 1979 and broke off formal relations with Taiwan. Since then, every U.S. administration has tried to maintain an ambiguous position on Taiwan based on the “One China” policy. Usually, U.S. administrations strike tax treaty agreements with other countries that are ratified by the Senate. The Biden administration has expressed support for ending double taxation with Taiwan. Senator Ron Wyden, Democrat of Oregon, who chairs the Senate Finance Committee, said on Thursday that the legislation would help make those plans possible.

Persons: Biden, Ron Wyden Organizations: United, Senate, House, Lawmakers, Democrat, Finance Locations: States, Taiwan, United States, China, U.S, Oregon

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