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☆ Japan lawmaker says TSMC is considering second plant in Japan
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 23 (Reuters) - A senior Japanese lawmaker said on Friday that Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chip maker, is considering building a second plant in Japan in addition to an $8.6 billion dollar facility now under construction. "I believe TSMC is looking into further investments in Japan. TSMC said in an emailed statement that it did not rule out any possibility for Japan but there were no concrete plans at the moment. The Taiwanese company is building a chip plant in southern Japan, with Sony Group Corp (6758.T) and auto parts maker Denso Corp (6902.T) each taking a minority stake. "Technological innovation is fierce in the semiconductor industry," Seki said.

☆ TSMC's planned semiconductor investment is good for U.S. economic security, says White House economist
▼ + stars: | 2022-12-07 | 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 EmailTSMC's planned semiconductor investment is good for U.S. economic security, says White House economistNational Economic Director Brian Deese joins CNBC's 'Squawk Box' to weigh in on Taiwan Semiconductor Manufacturing Company, or TSMC, plan to build a second chip plant in Arizona.

But Wray said the FBI continues to be concerned about Chinese government “talent programs” that sometimes pay American professors through secret relationships. “At the same time, you also stated, as you’ve just done, that this effort isn’t about the Chinese people or Chinese Americans. But of course, Chinese Americans are part of the U.S. society that you believe needs to be mobilized against China. He also returned to talking about Chinese government operations that have targeted Chinese Americans. “We view Chinese Americans here as being with us.

☆ China is a growing threat to national security, U.S. companies and American workers, U.S. Commerce Secretary Raimondo says
▼ + stars: | 2022-11-30 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

It's now clear to U.S. officials that China, once considered a possible economic and political ally, has become an emerging threat to national security, U.S. companies and American workers, Commerce Secretary Gina Raimondo said Wednesday. "China's reprioritization away from economic growth toward national security and its assertive military behavior means that we have to rethink how we protect our national security interests while also promoting our interests in trade and investment." "Probably most disturbingly is they're accelerating their efforts to fuse economic and technology policies with their military ambitions," Raimondo said. "China today poses a set of growing challenges to our national security," she said. But in areas that have no potential to undermine our interests, our values, our national security, our economic security, and at the same time using every tool in our toolbox to protect our companies and counter unfair economic practices," Raimondo said.

☆ UK Prime Minister Sunak vows to maintain military aid to Ukraine
▼ + stars: | 2022-11-27 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, Nov 27 (Reuters) - British Prime Minister Rishi Sunak plans to promise on Monday to maintain or increase military aid to Ukraine next year, and to confront international competitors "not with grand rhetoric but with robust pragmatism". British government support for Ukraine has remained unchanged, despite turmoil in recent months as Boris Johnson was succeeded as prime minister by Liz Truss and then Sunak. On Ukraine, Sunak indicated no change with the policy pursued by Johnson and Truss. We will maintain or increase our military aid next year. In September Britain said it was the second largest military donor to Ukraine after the United States, providing 2.3 billion pounds ($2.8 billion) of aid this year.

☆ ‘The stakes are high.’ Why there’s a push for Congress to renew the expanded child tax credit this year
▼ + stars: | 2022-11-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Larry French | Getty Images Entertainment | Getty ImagesMillions of families received monthly checks of up to $300 per child in 2021, thanks to the expanded child tax credit. "Policy makers can expand the child tax credit, or they can fail to act and see the Rescue Plan's historic gains against child poverty evaporate." Now, the child tax credit has reverted to previous rules, for a total of $2,000 per child up under age 17. The current child tax credit phases in with earnings above $2,500. Sarah Silbiger | Bloomberg | Getty ImagesAs Congress seeks a way to include corporate tax breaks in upcoming legislation, some lawmakers say they will not support those efforts without a renewal of an expanded child tax credit.

☆ A Republican House majority will 'eagerly sow economic chaos' if Democrats don't 'grow a spine' and do as much as they can during the lame duck session, Elizabeth Warren says
▼ + stars: | 2022-11-17 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Sen. Elizabeth Warren called on Democrats to do as much as they can during the lame duck session. She called for eliminating the debt ceiling and working on other priorities like universal childcare. The first is to do everything we can in the lame duck session to prepare for the chaos that is coming if the Republican wrecking crew takes control of the House." In recent years, raising the debt ceiling has become a point of contention in Congress. It's unclear if a lame duck push to raise the debt ceiling is even viable.

☆ Elizabeth Warren slams the Fed for risking 'pushing our economy off a cliff': 'There is a big difference between landing a plane and crashing a plane'
▼ + stars: | 2022-11-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. Warren slammed the Federal Reserve for risking "pushing our economy off a cliff." She disagreed with the Fed's strategy to aggressively hike interest rates to fight inflation. Continuing to raise rates could push the economy into a recession and cause job losses, Warren said. The Fed needs to slow down on these extreme rate hikes and remember its dual mandate of price stability and maximum employment. But, as Insider previously reported, lower interest rate hikes could be on the horizon as the economy continues to recover from the pandemic.

Today's EVs run on lithium ion batteries — mostly made with lithium, cobalt, manganese and high-grade nickel, whose prices have soared. The EVs of the future — those arriving after 2025 — could shift to sodium ion or lithium sulfur battery cells that could be up to two-thirds cheaper than today's lithium ion cells. China's CATL (300750.SZ) has said it plans to begin producing sodium ion cells in 2023. Michigan-based Amandarry and British startup AMTE Power (AMTE.L) are developing sodium ion batteries using sodium chloride — basically table salt — as the main cathode ingredient. Battery developers hope they can add sodium ion and lithium sulfur batteries to the range open to the auto industry.

☆ Degrowth: A dangerous idea or the answer to the world's biggest problems?
▼ + stars: | 2022-11-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +10 min

“An innocent 2 or 3% per year, it’s an enormous amount of growth — cumulative growth, compound growth — over time,” said Giorgos Kallis, a top degrowth scholar based at the Universitat Autònoma de Barcelona. Action Press/ShutterstockThe UN’s Intergovernmental Panel on Climate Change recently cited degrowth in a major report. Investment bank Jefferies said investors should consider what happens if degrowth gathers steam, noting “climate-anxious” younger generations have different consumer values. She’s criticized “fairy tales about non-existent technological solutions” and “eternal economic growth.” And she’s touched on another point degrowthers raise: Is our current system, which has produced rampant inequality, even working for us? Gates, the Microsoft co-founder who’s prioritized investing in climate innovations, admits that overhauling global energy systems is a Herculean task.

SHARM EL-SHEIKH, Egypt, Nov 11 (Reuters) - U.S. President Joe Biden addressed the COP27 climate conference in Egypt on Friday, saying the global climate crisis posed an existential threat to the planet and promising that the United States was doing its part to combat it. "The climate crisis is about human security, economic security, environmental security, national security, and the very life of the planet," Biden said, before outlining steps the United States, the world’s second-biggest greenhouse gas emitter, was taking. It came even as a slew of crises - from a land war in Europe to rampant inflation - distract international focus. "Against this backdrop, it's more urgent than ever that we double down on our climate commitments. Upon arrival, Egypt's President Abdel Fattah al-Sisi told U.S. President Joe Biden that Egypt has launched a national strategy for human rights and is keen to develop in that regard.

SHARM EL-SHEIKH, Egypt, Nov 11 (Reuters) - U.S. President Joe Biden told the COP27 climate conference in Egypt on Friday that global warming posed an existential threat to the planet and promised the United States would meet its targets for fighting it. "The climate crisis is about human security, economic security, environmental security, national security, and the very life of the planet," Biden told a crowded room of delegates at the U.N. summit in the seaside resort town of Sharm el-Sheikh. Biden said global crises, including the Russian invasion of Ukraine, were not an excuse to lower climate ambition. U.S. President Joe Biden delivers a speech at COP27 climate summit, in Sharm el-Sheikh, Egypt, November 11, 2022. "It's radio silence on loss and damage finance," Singh said, calling Biden "out of touch with the reality of the climate crisis."

☆ Asian Americans have some of the highest levels of support for abortion rights — and it's driving them to vote
▼ + stars: | 2022-11-05 | by ( Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +9 min

With studies finding that Asian American and Pacific Islanders show some of the highest levels of support for abortion rights, community leaders are expecting this issue to drive Asian Americans to the polls — many for the first time ever. “AAPIs view abortion not as the singular act of abortion, but as health care,” said Varun Nikore, executive director of the nonprofit AAPI Victory Alliance. While some researchers point to flaws in the polling (most notably that Pew only surveyed English speakers), they say there’s no doubt that Asians show the highest level of support when it comes to abortion rights. “That tells me that abortion rights and reproductive rights are likely what’s driving that prioritization,” said Karthick Ramakrishnan, founder and director of demographic data and policy research at AAPI Data. A younger crop of Asian voters newly engaged by the Dobbs ruling are initiating these conversations with their elders, too.

Latinas are the largest group of women of color affected by current and future state abortion bans and restrictions: More than 4 in 10 Latinas of reproductive age live in the nearly two dozen states where officials are working to make abortion inaccessible. Three-quarters of the Latinas who live in states with abortion bans or restrictions are concentrated in Texas, Florida and Arizona. Roe’s repeal opened the door for 13 states, most of them in the South and the Midwest, to implement abortion bans. Nearly 3.1 million Latinas affected by current and future abortion bans in the 26 states are already mothers. Close to 4.3 million white Latinas, 820,500 multiracial Latinas, over 107,000 Black Latinas, nearly 57,000 Native Latinas and 18,500 Asian American Pacific Islander Latinas live in those states.

☆ GlobalFoundries IPO anniversary sends shares surging 20%
▼ + stars: | 2022-10-28 | 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 EmailGlobalFoundries IPO anniversary sends shares surging 20%Thomas Caufield, CEO of semi manufacturer GlobalFoundries, joins 'Power Lunch' to discuss performance indicators, financing plans for expansion in the U.S., the economic security that comes with onshoring chip manufacturing.

☆ Russian assets seized in Ukraine may be used for reconstruction - minister
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

KYIV, Oct 28 (Reuters) - Assets belonging to Russian and Belarusian individuals seized by Ukraine could be used for the country's massive post-war reconstruction effort, Finance Minister Serhiy Marchenko was quoted on Friday as saying. The government has frozen Russian and Belarusian assets in Ukraine worth some 44 billion hryvnias ($1.21 billion) since the start of Moscow's invasion on Feb. 24, according to the Economic Security Bureau, a state agency. "Money seized on the territory of Ukraine from Russian and Belarusian citizens can be involved in this fund," he added, without elaborating. The European Union is also looking at using Russian assets frozen under Western sanctions against Moscow in the postwar reconstruction of Ukraine, the head of the European Council, Charles Michel, said at an EU summit last week. Moscow said on Thursday it would retaliate if the EU moved to confiscate assets belonging to the Russian state or its citizens.

☆ 9 million families are entitled to up to $10,000 in checks from the IRS they never claimed
▼ + stars: | 2022-10-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Last week, the IRS announced that it would begin sending out letters to over 9 million people and families who qualify for tax credits, but haven't collected them because they didn't file taxes. "The IRS wants to remind potentially eligible people, especially families, that they may qualify for these valuable tax credits," IRS Commissioner Chuck Rettig said in a statement. "We encourage people who haven't filed a tax return yet for 2021 to review these options. Between the expanded child tax credit, earned income tax credit, and third stimulus check, families could get over $10,000 if they claim their credits, according to Adam Ruben, director of the Economic Security Project. The letters come as debate over whether to restart the child tax credit begins to pick up yet again.

☆ September 21 is Black Women's Equal Pay Day. It shows how far America has to go to close the gender and racial wage gap.
▼ + stars: | 2022-09-21 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

September 21 is Black Women's Equal Pay Day. The pay gap affects Black women in multiple ways, including their savings for retirement. Equal pay day is calculated based on the size of that wage gap. The over $900,000 in loses over a 40-year career for Black women from the pay gap can negatively impact Black women financially. Mason said the money lost due to the pay gap affects "their ability to build wealth."

☆ Chip-Making Push Expected to Boost U.S. Innovation
▼ + stars: | 2022-09-20 | by ( Angus Loten | ) www.wsj.com time to read: +3 min

U.S. efforts to boost domestic semiconductor manufacturing will have a beneficial impact on homegrown innovation, in part by ensuring tech startups have the resources they need to scale emerging technologies, industry experts said. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. PREVIEWMs. Levine, speaking Tuesday at The Wall Street Journal’s CIO Network online summit, said a robust domestic semiconductor industry can help unlock downstream innovation. The bipartisan Chips and Science Act, which Congress approved in July, goes a long way to boost innovation, Ms. Levine said. But in a capital-intensive industry like semiconductor fabs, where other countries have long supported private manufacturers, “it’s problematic that the U.S. isn’t involved,” Mr. Burns said.

☆ One-time presidential pardon will not do much to alleviate student debt crisis, economists say. These changes may be a better solution
▼ + stars: | 2022-09-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Student loan debtors are poised to get some breathing room after President Joe Biden unveiled a plan last month to forgive up to $20,000 in federal student loans per borrower. But some experts say the one-time presidential pardon will not do much to alleviate the student debt crisis affecting millions of borrowers around the country. Student loans provided by the government similarly place an undue burden on younger Americans, he said. More from Personal Finance:How student loan forgiveness will be applied to your debtsKey events on the path to student loan forgivenessHow to calculate your bill for student loan forgiveness"My message would be, 'Don't borrow for college to begin with — period,'" Kotlikoff said. That's as more than 40 million people hold $1.7 trillion in student loan debt.

Groups representing big rail shippers said Thursday’s tentative railroad-labor contract avoids potential turmoil in their supply chains and they are hoping for rapid ratification by union members to fully ease the labor tensions. “We are relieved and cautiously optimistic that this devastating nationwide rail strike has been averted,” said National Retail Federation President and Chief Executive Matthew Shay. The tentative deal must now be ratified by members of the various unions covered by the contracts. The deal, which is retroactive to 2019, includes a 14.1% wage increase upon ratification. Still, the agreement may help improve rail service in operations that have been hit by capacity and staffing shortages, he wrote.

☆ The American middle class used to signify economic security. That's now quickly becoming a luxury only the wealthiest can afford.
▼ + stars: | 2021-12-25 | by ( Paul Constant | ) www.businessinsider.com time to read: +5 min

While a majority of Americans consider themselves middle class, he says far fewer actually are. Those numbers are disastrous for the American middle class. When most noneconomists talk about the middle class, we don't mean the strict middle third of American household wealth. A 2015 Pew report found that while 89% of all Americans self-identify as members of the middle class, just 50% of Americans actually met the broadest economic definition of middle class. Throughout the 20th century, a secure and growing middle class was the source of America's prosperity.

☆ Many stimulus programs are due to expire at the end of 2020, threatening the US economy during the COVID-19 pandemic's most challenging phase
▼ + stars: | 2020-11-22 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

On November 19, Mnuchin expressed his desire to have $580 billion in unspent stimulus funds redirected to small businesses and to extend unemployment benefits. This economic relief program extended traditional unemployment benefits from the standard 26 weeks to 39 weeks. Self-employed and gig economy workers can collect state unemployment benefits through December 31, but that will also expire under the CARES Act. At the end of July, the Federal Pandemic Unemployment Compensation, or FPUC, expired, which provided a federally funded $600 weekly supplemental boost to state unemployment payments. AdvertisementThe coronavirus pandemic has deeply impacted funding for first-responders, teachers, firemen, and police officers, the very people who have been on the front lines.

Persons: —, Nancy Pelosi, Mitch McConnell, gridlock, Steven Mnuchin, Pelosi, McConnell, Mnuchin, Donald Trump, Joe Biden, Paul Sakuma, Stout, Biden Organizations: Service, Relief, Economic, Business, Representatives, Democratic, Johns Hopkins University, Century Foundation, Survey, The New York Times, New Locations: Federal, coronavirus, State, New York City

☆ Moldovan PM meets Romania's Ambassador
▼ + stars: | 2020-04-27 | by ( ) tribuna.md time to read: +1 min

Prime Minister Ion Chicu today met Romania’s Extraordinary and Plenipotentiary Ambassador to Moldova Daniel Ionita. The discussion was focused on the evolution of the Moldovan-Romanian strategic partnership and its results, the government’s communication and protocol department has reported. The tenth anniversary of the adoption of the joint declaration on the establishment of the strategic partnership between Moldova and Romania for Moldova’s European integration is marked on 27 April. The partnership has opened new opportunities for economic and cultural exchanges and decisively contributed to Romania becoming the most important economic partner of Moldova. Romania substantially backed Moldova’s European integration at bilateral level and within the European structures, such as the European Action Group for Moldova and the Eastern Partnership.

Persons: Ion Chicu, Romania’s, Moldova Daniel Ionita, www.moldpres.md Organizations: Moldovan, European, Group, Eastern Partnership, PM, Art Museum, Organ, and Child Institute, Hasdeu Locations: Moldova, Romanian, Romania, Iasi, Ungheni, Chisinau, Cahul

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