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WASHINGTON — A group of Democrats are raising concerns as to whether companies that received federal funding for semiconductors used the money to support stock buybacks - and criticizing their own party over how the awards are given. Raimondo has stated that CHIPS funding is not meant to pad companies' bottom lines or support stock buybacks. But lawmakers urged her to go further, and ban stock buybacks for companies that receive CHIPS funds. About $33 billion of funding from the CHIPS Act has been allocated, mostly to major companies. It also said decisions on buybacks were independent from any funds released through the CHIPS Act.
Persons: Gina Raimondo, WASHINGTON, Sen, Elizabeth Warren, Sean Casten, Bill Foster of, Pramila, Pat Gelsinger, Raimondo, Warren Organizations: Science, Technology, Washington , D.C, CNBC, BAE Systems, Intel, Yahoo, Finance, Microelectronics, Commerce Department Locations: Rayburn, Washington ,, Bill Foster of Illinois, Washington
Already, Russia's military and China's People's Liberation Army have held around 25 joint exercises since 2005, involving ships, aircraft and ground troops. Equally important is that China has become a key enabler of Russia's war in Ukraine. Advertisement"Policymakers and planners should avoid overestimating the state of military cooperation and operational integration that exists between Russia and China," RAND warned. AdvertisementDespite boasting of their military ties, Russia and China don't have much faith in each other's military prowess. In their 2001 friendship treaty, China and Russia did agree to consult with each other should either nation be attacked.
Persons: Mladen Antonov, Russia's, Mark Cozad, Cozad, Hitler, Michael Peck Organizations: Service, Communist, Business, NATO, RAND Corp, Liberation Army, British, RAND, PLA, People's, Army, Russian, Grand Alliance, Western Allies, Central, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Soviet Union, China, Beijing, Moscow, U.S, Russian, Europe, Taiwan, Ukraine, Russia, Britain, South Korea, America, Vietnam, Korea, Syria, West, Central Asia, United States, Forbes
U.S. is closer to curbing investments in China's AI, tech sector
  + stars: | 2024-06-22 | by ( ) www.cnbc.com   time to read: +4 min
Public comments on the proposed rules will be accepted until Aug. 4. watch nowTreasury said the new rules were intended to implement "a narrow and targeted national security program" focused on certain outbound investments in countries of concern. Treasury had mapped out the contours of the proposed rules in August. Certain third-country transactions determined to be addressing national security concerns, or in which the third country adequately addressed the national security concerns, could also be exempted, Treasury said. "U.S. investors will need to engage in more extensive due diligence when making investments in China or investments involving Chinese companies that operate in the covered sectors," she said.
Persons: Joe Biden, Investment Security Paul Rosen, Laura Black, Akin Gump, Black, Treasury's Organizations: U.S . Treasury Department, Investment Security, Treasury, Treasury Department, U.S Locations: Europe, United States, Binzhou, East China's Shandong province, China, U.S, Macao, Hong Kong, Washington
A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. China's largest chipmaker SMIC is now the world's third-largest foundry in terms of revenue in the first quarter, according to Counterpoint Research. State-backed SMIC, or Semiconductor Manufacturing International Co. , held a market share of 6% in the first quarter— up from 5% last year, the report showed. This places SMIC behind only Taiwan Semiconductor Manufacturing Company and South Korea's Samsung Foundry which held 62% and 13% of market share in the first quarter respectively. 3 position in foundry revenue market share in Q1 2024 for the first time, as demand recovery begins in China, including CIS, PMIC, IoT, and DDIC applications," showed the Counterpoint Research report published Wednesday.
Persons: GlobalFoundries, Chips, SMIC Organizations: Semiconductor Manufacturing International Corporation, Research, Semiconductor Manufacturing, Co, Taiwan's United Microelectronics Corporation, Taiwan Semiconductor Manufacturing Company, South, Samsung Foundry, CIS Locations: Beijing, China, China's
Robert H. Dennard, an engineer who invented the silicon memory technology that plays an indispensable role in every smartphone, laptop and tablet computer, died on April 23 in Sleepy Hollow, N.Y. The cause of death, at a hospital, was a bacterial infection, said his daughter, Holly Dennard. Mr. Dennard’s pioneering work began at IBM in the 1960s, when the equipment to hold and store computer data was expensive, hulking — often room-size machines — and slow. He was studying the emerging field of microelectronics, which used silicon-based transistors to store digital bits of information. His discovery opened the door to previously unimaginable improvement in data capacity, with lower costs and higher speeds all using tiny silicon chips.
Persons: Robert H, Holly Dennard, Dennard’s, Dennard Organizations: IBM Locations: Sleepy Hollow
This week, Xi is welcoming him to China for a two-day state visit — their fourth in-person meeting since Russia’s onslaught in Ukraine began. China has repeatedly defended its trade with Russia as part of normal bilateral relations. Russia has also become China’s main oil supplier, overtaking Saudi Arabia, according to official Chinese trade data. Governments warn against support for Russia’s war effortThe wartime surge in trade, and growing purchases of oil, have sparked criticism in the West that China was helping to fund Russia’s war. It mirrors Xi’s state visit to Russia in March 2023, which was the Chinese leader’s first overseas trip after starting a norm-shattering third term as president.
Persons: Vladimir Putin’s, Xi, Putin, Antony Blinken, Emmanuel Macron, Ursula von der Leyen, Von der, , Volodymyr Zelensky, Joe Biden, Biden Organizations: Hong Kong CNN, United, European Union, International Monetary Fund, , EU, White, European Commission Locations: China, Hong Kong, Russia, Ukraine, Russian, United States, Saudi Arabia, India, West, Beijing, France, Chinese
Hong Kong CNN —Russian President Vladimir Putin has arrived in Beijing for the start of a two-day state visit underlining close alignment with Chinese leader Xi Jinping as Russian troops advance in Ukraine. Ahead of the trip, Putin hailed the “unprecedented level of strategic partnership” between the countries in an interview with Chinese state media Xinhua. The two leaders – who declared a “no limits” partnership weeks before the February 2022 invasion – have continued to strengthen their countries’ diplomatic, trade and security ties since Russia’s invasion of Ukraine. Xi hosts Putin in Beijing as the Chinese leader comes under under mounting pressure from the US and Europe to ensure exports from China aren’t propping up Russia’s war effort. This is the fourth in-person meeting between Xi and Putin – known for their personal chemistry – since the invasion and Putin’s second visit to Beijing in that time.
Persons: Vladimir Putin, Xi Jinping, Putin, Volodymyr Zelensky, Russia’s, China’s, , Xi Organizations: Hong Kong CNN, West, Wednesday, Xinhua, , Trade, China aren’t, Kremlin Locations: Hong Kong, Beijing, Ukraine, Kharkiv, Gaza, ” Beijing, United States, Europe, China, Moscow, Harbin, China’s, Heilongjiang, Russia’s
At Indiana University, protesters say they've been met with a militarized response from police. AdvertisementOn April 25, a day after Indiana University made a controversial change to its protest policies, students built an encampment on the school's Dunn Meadow. Isabella Volmert/AP PhotoShe joined the campus protests on April 25 alongside her husband, an IU staff member. From Vietnam to the Israel-Hamas WarWhen Dunn Meadow was established in 1969, official university policy dictated that overnight encampments were not allowed. AdvertisementThe Indiana University Police Department did not immediately respond to a request for comment from BI.
Persons: they've, , Dunn, Pamela Whitten, Whitten, Barbara Dennis, Isabella Volmert, Dennis, Jia Wu, haven't, Z Bryce Greene, Greene, Jeremy Hogan Organizations: Indiana University, Service, Business, Indiana University's School of Education, Occupy, IU, New York Times, Columbia, City College of New, Hamilton Hall, Columbia University, Getty, College, Kent State University, Ohio National Guard, Indiana University Police Department, Palestine Solidarity Committee, Naval Surface Warfare, University, Indiana University's, Faculty, UNICEF Locations: Israel, Vietnam, Gaza, Dunn, Iraq, City College of New York, New York City, AFP, Kent, Palestine, Crane , Indiana, Indiana
“China is neither the creator of the crisis, nor a party to it or a participant. The trip will also see Xi visit Serbia and Hungary, with the leader’s visit to Belgrade coinciding with the 25th anniversary of NATO’s bombing of the Chinese embassy in the city that killed three. Beijing has defended its trade with Russia as part of normal bilateral ties; it also says it does not provide weapons to parties in conflict. It has not been accused of sending lethal weapons to Russia, but rather goods with military use. Beijing supports efforts recognized by both Russia and Ukraine, with “equal and just discussions of all possible peace plans at the conference,” he said.
Persons: Xi Jinping, ” Xi, Emmanuel Macron, Ursula von der, , ramped, Macron, Xi “, he’s, , ” Macron, presser, Xi, Vladimir Putin, von der Leyen, Putin Organizations: Hong Kong CNN, French, European, NATO, Biden, Kyiv Locations: Hong Kong, Ukraine, China, Europe, Moscow, “ China, Paris, Washington, Beijing, Russian, Serbia, Hungary, Belgrade, Serbian, Balkans, Russia, France, , Israel, Switzerland
Read previewChina's leader, Xi Jinping, played the role of Ukraine's peacemaker during talks on Tuesday with German Chancellor Olaf Scholz. At the meeting in Beijing, Xi presented his German counterpart with four principles for peace in Ukraine, according to Chinese state media. AdvertisementThe principles are vague and similar to a Ukraine peace plan proposed by China last year. But despite these public statements, analysts say that Xi's claims to be a peacemaker are a charade and that in reality, China is increasing support for Russia's military. AdvertisementThis is in addition to the diplomatic and economic support China has already given the Kremlin.
Persons: , Xi Jinping, Olaf Scholz, Xi, Scholz, Vladimir Putin, he's, Joe Biden Organizations: Service, Business, London's Royal United Services Institute, The, Associated Press Locations: Beijing, Ukraine, China, Russia, US, Germany, San Francisco
Looking ahead, those searching for pockets of opportunities in the region can look to Morgan Stanley's selection of "alpha" stocks. Among the "notable top-ranked stock ideas" on its list is South Korean commercial bank Hana Financial Group. "Our Korea Financial analyst, Joon Seok ... believes large-cap banks are key beneficiaries of the corporate reform theme," Morgan Stanley's analysts said. Here are 10 stocks from Morgan Stanley's full list of top overweight-rated stocks for April. Notable bottom-ranked stocks Morgan Stanley named its "notable bottom-ranked stock ideas."
Persons: India's, Morgan Stanley's, Joon Seok, Morgan, Joon, Morgan Stanley, Santos, — CNBC's Michael Bloom Organizations: Japan's Nikkei, CSI, Alpha, Japan, Hana Financial, Korea Financial, Financial Services, Novatek Microelectronics, Analysts, Morgan, Berger Paints Locations: India, Japan, China, Asia, Pacific, Korean
Chinese and Russian entitles have also been working jointly to produce drones inside of Russia, one of the officials said. And Russia’s rapidly expanding production of artillery rounds is due, in large part, to the nitrocellulose coming from China, officials said. The support from China is compensating for the significant setbacks that Russia’s defense industry experienced early in the Ukraine war due to US sanctions and export controls. The US has not seen any interruption to the ongoing Chinese support since that Biden-Xi phone call, though sometimes it takes time to see changes come to fruition. Earlier this month Treasury Secretary Janet Yellen delivered China a warning of “significant consequences” if Chinese companies provide support to Russia for the Ukraine war during her trip to the country.
Persons: , Chris Cavoli, Joe Biden, Xi Jinping, Antony Blinken, Biden, Xi, Vladimir Putin, Janet Yellen, Katie Bo Lillis Organizations: CNN, Ukraine, Biden, People’s, European Command, Russia Locations: China, Russia, Moscow, Ukraine, Kyiv, , People’s Republic of China, reconstituting, Europe
Chipmakers and governments, including the US government, have in recent years invested billions in efforts to diversify chip production, but many experts worry that process is not happening fast enough. TSMC produces an estimated 90% of the world’s most advanced semiconductor chips, which power countless devices people rely on daily. Still, even an hours-long shutdown of certain chip production could take weeks to recover from. The race to diversify chipmakingWednesday’s earthquake will likely only add pressure to efforts underway for years to grow chipmaking capacity outside of Taiwan. Experts say it’s a sign that the diversification of the chip supply chain is not moving quickly enough to account for the risks of remaining concentrated in Taiwan.
Persons: chipmaker, TSMC, ” TSMC, , David Bader, ” Bader, facilites, wasn’t, Joe Unsworth, Foxconn —, Angelo Zino, Joe Biden Organizations: New, New York CNN, Taiwan Semiconductor Manufacturing Company, Apple, Qualcomm, Nvidia, AMD, Institute for Data Science, New Jersey Institute of Technology, Barclays, Tech, United Microelectronics Corporation, Micron Locations: New York, Taiwan, chipmaking, China, United, Japan, Germany, United States, Arizona
Shares of two critical chip firms TSMC and ASML fell ahead of U.S.-based artificial intelligence chip designer Nvidia's earnings report. Shares of Taiwan Semiconductor Manufacturing Company dropped more than 1% on Wednesday morning. Nasdaq-listed shares of Dutch semiconductor equipment maker ASML closed 2.09% lower on Tuesday. ASML supplies the likes of TSMC with machines that are critical to manufacturing chips. Other Taiwanese semiconductor companies United Microelectronics Corp .
Persons: ASML, Jensen Huang, MediaTek Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Apple, Nasdaq, United Microelectronics Corp Locations: Krakow, Poland, U.S
CNN —A North Korean ballistic missile fired last month by the Russian military in Ukraine contained hundreds of components that trace back to companies in the US and Europe, according to a new report. Last year, as CNN previously reported, CAR determined that 82% of components inside Iranian-made attack drones fired by Russia inside Ukraine were made by US companies. Courtesy Conflict Armament ResearchThe research also shows that North Korea was able to produce the missile and ship it over to Russia quickly. More evidence of Russia, North Korea tiesThe White House confirmed last month that Russia has been firing North Korean missiles at Ukrainian cities. North Korea has also likely provided Russia with “millions of artillery rounds” over the last year, according to a report published last week by the Pentagon’s inspector general.
Persons: Biden, North Korea —, , Korea “, Kim Jong Un, John Kirby Organizations: CNN, Research, National Security Council, North, Congress, White House, Korean, Intelligence, CAR, North Korean, United Nations Security, , National Security Locations: Korean, Russian, Ukraine, Europe, North Korea, Iran, Russia, Kharkiv, United States, Asia, US, China, Germany, Japan, Netherlands, Singapore, Switzerland, Taiwan, American, Korea, Washington, Pyongyang
All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.
Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile
EU clears up to 1.2 bln euros of aid for cloud computing
  + stars: | 2023-12-05 | by ( ) www.reuters.com   time to read: +2 min
European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Dec 5 (Reuters) - The European Commission approved on Tuesday up to 1.2 billion euros ($1.30 billion) of state aid for a European cloud computing project to try to boost the involvement of EU business in a field dominated by U.S. companies. Those countries will provide up to 1.2 billion euros in public funding, which in turn is expected to unlock 1.4 billion euros in private investments, the European Commission said. The European cloud technology project features 19 companies, including French companies Atos (ATOS.PA) and Orange (ORAN.PA), Deutsche Telekom (DTEGn.DE) and Germany's SAP (SAPG.DE), Telecom Italia (TLIT.MI) and Telefonica Espana (TEF.MC). The three biggest players in cloud computing are Amazon (AMZN.O), Microsoft (MSFT.O) and Google (GOOGL.O).
Persons: Yves Herman, Didier Reynders, Sudip Kar, Gupta, Piotr Lipinski, Philip Blenkinsop, Barbara Lewis Organizations: European Commission, REUTERS, Rights, U.S, Infrastructure, Services, IPCEI CIS, Union, Deutsche Telekom, SAP, Telecom Italia, Telefonica Espana, Microsoft, Google, Thomson Locations: Brussels, Belgium, France, Germany, Hungary, Italy, Netherlands, Poland, Spain
These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.
Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe
Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. That put numerous projects in key areas for Germany's industrial competitiveness at risk, the sources, who declined to be named, warned. In the steel industry, businesses planned to invest 6 billion euros ($6.54 billion) in decarbonised steel production, directly and indirectly employing around 20,000 people. Investments in microelectronics were bundled into the KTF, totalling 31 projects relying on an estimated 4 billion euros in government funding. Numerous projects along the battery supply chain were submitted as outlines for funding applications, the sources said, with an investment volume of around 20 billion euros.
Persons: Wolfgang Rattay, Markus Wacket, Victoria Waldersee, Bill Berkrot Organizations: REUTERS, Rights, Transformation, Investments, RIC, Infineon, Intel, Thomson Locations: Duisburg, Germany, Dresden, Magdeburg
Senator Bob Casey (D-PA) delivers remarks at the Belmont Water Treatment Center during a visit to Philadelphia, Pennsylvania, U.S., February 3, 2023. REUTERS/Elizabeth Frantz Acquire Licensing RightsNov 9 (Reuters) - Two U.S. senators plan to introduce a bipartisan bill on Thursday that would require private equity firms to make public how much they invest in China and other countries of concern. The bill, set to be introduced by Democratic Senator Bob Casey and Republican Senator Rick Scott, is the latest effort to track U.S. investments in China. U.S. private investment firms have poured more than $80 billion into China between 2018 and 2022, some via pension plans, according to Casey's office. Casey has also co-sponsored a measure that would require government notification of investments in certain sensitive technology sectors in China.
Persons: Bob Casey, Elizabeth Frantz, Rick Scott, Casey, Rick Scott's, Karen Freifeld, Sharon Singleton Organizations: Treatment, REUTERS, Democratic, United, U.S . Securities, Exchange Commission, Senate's, Thomson Locations: Belmont, Philadelphia , Pennsylvania, U.S, China, United States, Iran, Russia, North Korea
Jared Cohen: If you reflect back on most of the last 20 years, the geopolitical center of gravity has been in the Middle East. But there’s a paradigmatic shift where the geopolitical center of gravity has moved from the Middle East to Washington and Beijing. That’s before you get into other factors like the war in Europe, now, the war in the Middle East and a variety of other things. I don’t think that’s the case. Leaders in the Middle East have a big vision of their role in the world.
Persons: Goldman Sachs, won’t, Goldman, Bell, Jared Cohen, Cohen, they’re, They’ve, it’s, They’re, Bill Ackman, , Ackman, Claudine Gay, , Lawrence Summers, Clinton, ” Summers, Chris Isidore, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Goldman Sachs Global Institute, Applied Innovation, Global Affairs, Google, Harvard, Harvard University, Israel, Pershing Square Capital Management, “ Harvard, Civil, CNN, UAW, United Auto Workers, General Motors, Ford Locations: New York, China, Europe, East, Washington, Beijing, Taiwan, South China, Israel
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Seth Wenig/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - The Republican and Democratic leaders of a U.S. congressional committee on China urged Treasury Secretary Janet Yellen to urgently implement outbound investment restrictions on the country, warning that Beijing was using American capital to develop technologies as her department debated new rules. China has condemned the move, but some U.S. lawmakers have argued it has too many loopholes. Yellen should adopt a broad definition of technology in her guidelines on the investment restrictions, the lawmakers said in the letter, dated Oct. 30, arguing China had blurred the lines between commercial and military technology. Some U.S. officials have said the outbound investment rules should not be overly broad to avoid harming the U.S. economy.
Persons: Janet Yellen, Seth Wenig, Joe Biden, deliberates, Mike Gallagher, Raja Krishnamoorthi –, Gallagher, Krishnamoorthi, Michael Martina, Sandra Maler Organizations: Treasury, Rights, Republican, Democratic, Chinese Communist Party, CCP, U.S, Biden, Thomson Locations: United States, New York, China, Beijing, U.S
The logo of United Microelectronics Corporation (UMC) is seen at the company’s lobby at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from tablets to cellphones and cars. In an earnings release, UMC (2303.TW) co-President Jason Wang said it expected demand to gradually stabilise in the last three months of the year. "For the fourth quarter, with the recent rush orders from PC and smartphones, we expect demand has gradually stabilised," he said. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year.
Persons: Ann Wang, TSMC, chipmaker, Jason Wang, Ben Blanchard, Jan Harvey Organizations: United Microelectronics Corporation, Hsinchu Science, REUTERS, United Microelectronics Corp, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: Hsinchu, Hsinchu Science Park, Taiwan, TAIPEI, U.S, UMC's Taipei
Mark Schiefelbein/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - The U.S. Commerce Department on Friday added 42 Chinese companies to a government export control list over their support for Moscow's military and defense industrial base - support that includes the supply of U.S.-origin integrated circuits. Another seven entities from Finland, Germany, India, Turkey, United Arab Emirates and the United Kingdom were also added to the trade export control list. The circuits include microelectronics that Russia uses for precision guidance systems in missiles and drones launched against civilian targets in Ukraine, the Commerce Department said in a statement. "The United States should immediately correct its wrong practices and stop its unreasonable suppression of Chinese companies," China's Ministry of Commerce said in a statement. Suppliers must then be granted generally hard-to-get licenses before shipping goods to entities on the list.
Persons: Janet Yellen, Mark Schiefelbein, Export Enforcement Matthew Axelrod, David Shepardson, Karen Freifeld, Mike Stone, Susan Heavey, Andrea Ricci, Edwina Gibbs Organizations: Rights, U.S . Commerce Department, United Arab Emirates, Commerce Department, U.S, Export Enforcement, Ministry of Commerce, Washington, Thomson Locations: United States, Diaoyutai, Beijing, China, U.S, Finland, Germany, India, Turkey, United Arab, United Kingdom, Russia, Ukraine, Russian
Mark Schiefelbein/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - The U.S. Commerce Department on Friday added 42 Chinese companies to a government export control list over support for Moscow's military and defense industrial base, including supplying the Russian sector U.S.-origin integrated circuits. Another seven entities from Finland, Germany, India, Turkey, United Arab Emirates and the United Kingdom were also added to the trade export control list. Entity List when Washington deems them a threat to U.S. national security or foreign policy. Suppliers must then be granted generally hard-to-get licenses before shipping goods to entities on the list. The Chinese embassy in Washington did not immediately respond to a request for comment.
Persons: Janet Yellen, Mark Schiefelbein, Export Enforcement Matthew Axelrod, David Shepardson, Karen Freifeld, Mike Stone, Susan Heavey, Andrea Ricci Organizations: Rights, U.S . Commerce Department, United Arab Emirates, Commerce Department, U.S, Export Enforcement, Washington, Thomson Locations: United States, Diaoyutai, Beijing, China, U.S, Finland, Germany, India, Turkey, United Arab, United Kingdom, Russia, Ukraine, Russian, Washington
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