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☆ Look beyond Nvidia to ride the AI wave — there are other potential winners, Fidelity says
▼ + stars: | 2024-03-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

There's a whole world of stocks beyond flashy AI names such as Nvidia for investors looking to ride the latest tech wave, according to investment firm Fidelity International These indirect AI plays include semiconductor foundries, packaging technology companies and memory companies, the investment firm said in a report Wednesday. In our view, AI will follow a similar trend," said Fidelity analysts. "These include semiconductor foundries, packaging technology companies and memory companies. However, looking beyond Nvidia, stocks in the AI-related sectors outlined by Fidelity have also been on the up. Customer services firms, business process outsourcing and music content companies could also offer opportunities, said Fidelity, as they "embrace and adapt to AI."

Persons: Fidelity Organizations: Nvidia, Fidelity International, Fidelity, ChatGPT, Taiwan Semiconductor Manufacturing Company, Samsung, SK Hynix, Nasdaq Locations: Stock, South Korean

Rising gasoline and housing prices led inflation to increase 0.4% in February, the Bureau of Labor Statistics reported on Tuesday. The food index was unchanged in February, as was the food at home index. Meanwhile, a recent report on consumer spending from Mastercard found that retail sales excluding autos were up in February, with online retail sales up more than 9.1%. The Census Bureau is scheduled to release retail sales for February on Thursday with analysts looking for a strong 0.8% increase after January's drop. “A dip in retail sales to start the calendar year is common, however, this year January retail sales marked the biggest decline since March of last year,” said Chip West, retail and consumer behavior expert at Vericast.

Persons: ” Joseph Brusuelas, ”, Chip Organizations: of Labor Statistics, Federal, “ Services, RSM, Mastercard, Apparel, Bureau, Federal Reserve Bank of, Blue Locations: Federal Reserve Bank of Atlanta

☆ Sam Altman rejoins OpenAI board of directors as investigation into his ouster comes to a close
▼ + stars: | 2024-03-08 | by ( Hayden Field | ) www.cnbc.com time to read: +7 min

Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 18, 2024. OpenAI on Friday announced its new board and the wrap-up of an internal investigation by U.S. law firm WilmerHale into the events leading up to OpenAI CEO Sam Altman's ouster. Sam Altman will also rejoin OpenAI's board. "We have unanimously concluded that Sam and Greg are the right leaders for OpenAI," Bret Taylor, chair of OpenAI's board, said in a release. Since then, OpenAI has announced new board members, including former Salesforce co-CEO Bret Taylor and former Treasury Secretary Larry Summers.

Persons: Sam Altman, OpenAI, WilmerHale, Sam Altman's, OpenAI's, Sue Desmond, Hellmann, Melinda Gates, Nicole Seligman, Fidji Simo, Adam D'Angelo, Larry Summers, Bret Taylor, Greg, Sam, Taylor, Altman, Bret, Larry, Mira Murati, Mira, Helen Toner, Tasha McCauley, Ilya Sutskever, Ilya, Elon Musk, Greg Brockman, Musk, –, Toner, McCauley, Altman's Organizations: Economic, Friday, Melinda Gates Foundation, Pfizer, Advisors, Science, Technology, Global, Sony, Sony Entertainment, Paramount Global, Meira, Inc, Shopify, OpenAI, Microsoft, Fortune, Lawyers, CNBC, SpaceX, Nvidia Locations: Davos, Switzerland, President's, OpenAI's San Francisco, U.S, Saudi Aramco

☆ China's focus on boosting exports will disrupt global politics and start a new trade war next year, economist says
▼ + stars: | 2024-03-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China wants to transition its growth model, with a bigger role for manufacturing, China Beige Book CEO Leland Miller told CNBC. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs China looks to transition towards a healthier growth model, its strategy could spark a head-to-head with other global economies, China Beige Book CEO Leland Miller told CNBC. Because the Chinese economic growth model is not sustainable considering the political sensitivities of the rest of the world." Meanwhile, a flood of Chinese solar panels to Europe has sparked warnings that one of the region's biggest production sites could close.

Persons: Leland Miller, —, Miller, they're, They're, BYD, Tesla Organizations: CNBC, Service, Beijing Locations: China, Beijing, Europe

☆ Citi names 'Super 7' global stocks similar to the Magnificent 7 — but cheaper
▼ + stars: | 2024-03-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Citi has identified European stocks it says are similar to the high-flying " Magnificent Seven " U.S. technology stocks, but trade at cheaper valuations leaving more room for them to rise. Citi's resulting Super Seven picks are Novo Nordisk , ASML , LVMH , SAP , Schneider Electric , Richemont and Ferrari . All of the stocks stocks also trade in the United States. Despite the rally over the past year, Citi points out that as a group, the Super Seven have lagged the Magnificent Seven, with 70% less appreciation since early 2023, leaving more upside potential. Looking ahead, Citi said the Super Seven was well positioned to continue outperforming should current "narrow" market conditions persist, and cautioned against selling stocks on the basis of a narrow market leadership.

Persons: Beata M, — CNBC's Charlotte Reed Organizations: Citi, Nvidia, Apple, Microsoft, Meta, Novo Nordisk, ASML, SAP, Schneider, Ferrari Locations: Europe, LVMH, United States

☆ Citi is betting big on high-profile executives to turn things around
▼ + stars: | 2024-02-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In today's big story, we're looking at the reshuffling of top executives at two of the biggest US banks . Viswas Raghavan, JPMorgan's top dealmaker, has joined Citi as its head of banking and executive vice chair, reporting directly to CEO Jane Fraser. The move is a big deal, but even more shocking since Raghavan was just promoted to be the sole head of JPMorgan's deals business. Since high interest rates aren't stopping stocks from reaching record highs, cuts might not come at all this year , according to analyst Jim Bianco. Market vet Ed Yardeni said interest rates are actually in a sweet spot for stocks, similar to the late '90s.

Persons: Viswas Raghavan, Jane Fraser, Raghavan, Filippo Gori, Doug Petno, Insider's Reed Alexander, Patrick T, Fallon, Fraser, Merrill Lynch, Andy Sieg, Warren Buffett, Warren, Berkshire Hathaway's, Jim Bianco, Ed Yardeni, Gemini, Demis Hassabis, Long, Alyssa Powell, they've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Citi, JPMorgan, Warren, Warren Buffett REUTERS, Chip, Berkshire, Buffett, Research, Wall, BI, Google, eBay Locations: Bronx, Gori, Rivian, New York, London

☆ 10 fascinating facts about Nvidia CEO Jensen Huang, who has a company tattoo and dozens of direct reports
▼ + stars: | 2024-02-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

Nvidia cofounder and CEO Jensen Huang is on track to be one of the richest people in the world. Here are 10 surprising facts about Huang, from his Nvidia tattoo to his staggering number of direct reports. AdvertisementJensen Huang, the CEO and cofounder of Nvidia, is leading the charge towards an AI future — with his company making billions. He has a tattoo of Nvidia's logo on his shoulderNvidia founder, president and CEO Jensen Huang displays his tattoo in September 2010. "The more direct reports the CEO has, the less layers are in the company," Huang said during an interview at the 2023 DealBook Summit.

Persons: Jensen Huang, Huang, —, who's, it's, Lori, Chris Malochowsky, Curtis Priem, Robert Galbraith, you've, Fortune, Noah Berger, what's, He's, he'll, Jackie Chan Organizations: Nvidia, Service, Oneida Baptist Institute in, Wired, NPR, Oregon State University, HP, Stanford, New York Times, Wilson Jackets, New Yorker, Yorker, New York Times DealBook Locations: Oneida Baptist Institute in Kentucky, California, Shutterstock

☆ Want a Nvidia alternative? These 6 chip suppliers look set to gain big from the AI boom
▼ + stars: | 2024-02-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A number of stocks that supply Nvidia look set to gain from the AI boom, as the U.S. chip giant published another bumper quarter of earnings. Nvidia, which makes chips that are used to train artificial intelligence models, said sales had risen 265% year-on-year to more than $22 billion in its latest quarter . TSMC also makes chips for companies such as Apple and AMD . Samsung Electronics and SK Hynix make "high bandwidth memory" chips used in the latest AI chips. Japanese firm Advantest makes equipment and materials used to test AI chips during manufacturing.

Persons: TSMC, Morgan Stanley, CNBC's Michael Bloom Organizations: Nvidia, CNBC, Samsung Electronics, Micron Technology, Taiwan Semiconductor Manufacturing Company, Apple, AMD, SK Hynix, GPU, Street, BESI, BE Semiconductor Industries, TSMC, Intel, Samsung Locations: U.S, NVDA, Dutch

☆ AI and semiconductor stocks surge after Nvidia's earnings beat
▼ + stars: | 2024-02-22 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Artificial intelligence and semiconductor chip stocks rallied after U.S. chip design firm Nvidia beat Wall Street's expectations for fourth-quarter earnings and revenue on Wednesday and projected "continued growth" in 2025 and beyond. Nvidia supplier Taiwan Semiconductor Manufacturing Company jumped as much as 2.05% in Thursday morning trade. TSMC is the world's largest contract chip maker and produces advanced processors for companies like Nvidia and iPhone maker Apple . Following Nvidia's earnings report, rivals Advanced Micro Devices and SoftBank-backed U.K. chip designer Arm Holdings surged 4.08% and 7.87%, respectively, in after hours trading. Nvidia, which custom designs AI chips for the likes of Amazon, Microsoft and Google, saw skyrocketing demand for its graphics processing units thanks to the AI boom.

Organizations: Nvidia, U.S, Taiwan Semiconductor Manufacturing Company, Apple, Devices, Arm, Microsoft, Google Locations: Krakow, Poland, Wednesday's, Dutch, U.S

☆ Shares of supplier TSMC, chip equipment maker ASML fall ahead of Nvidia's earnings report
▼ + stars: | 2024-02-21 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

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

☆ ASML and more: BofA just got more bullish on these 3 chip stocks, says AI spending is heating up
▼ + stars: | 2024-02-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

European semiconductor equipment stocks are likely to outperform as spending on artificial intelligence chips rises over the next decade, according to Bank of America. The continent's chip stocks produce the high-tech machines needed to manufacture the latest generation of chips. ASML ASML , the dominant supplier of lithography equipment used to manufacture advanced logic and memory chips, remains Bank of America's "top pick in EU Semicaps." The bank forecasts strong demand from leading chipmakers using ASML 's extreme ultraviolet lithography machines required to produce next-generation AI accelerators and high bandwidth memory modules. The investment bank said ASM 's exposure to new transistor architectures called "gate-all-around" appears to be critical for improving AI chip performance.

Persons: Didier Scemama Organizations: Bank of America, AMD, Nvidia, EU, America's, Analysts, ASM International Bank of America, ASM International, ASM, BE Semiconductor Industries, HB, Intel, Micron Locations: Europe

☆ David Tepper's Appaloosa cut exposure to several semiconductor stocks, but bought into one well-known ETF
▼ + stars: | 2024-02-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

David Tepper's Appaloosa Management trimmed positions in multiple semiconductor stocks during the fourth quarter, while buying into a closely-watched technology exchange-traded fund. Tepper cut back exposure to Advanced Micro Devices , Intel , Lam Research , Micron , Nvidia and Taiwan Semiconductor in the latest quarter, regulatory fillings show. Taiwan Semiconductor saw the largest sale on a percentage basis, with the Carolina Panthers football team owner approximately halving his stake. Elsewhere in technology, Tepper built an initial stake in Oracle , while adding to Microsoft and Amazon . Microsoft and Amazon are now the second and third largest positions.

Persons: David Tepper's, Tepper, ARKK, Cathy Wood's Organizations: Devices, Intel, Lam Research, Micron, Nvidia, Taiwan Semiconductor, VanEck Semiconductor, Carolina Panthers football, Qualcomm, AMD, Pittsburgh, Innovation, Oracle, Microsoft, Amazon . Holdings, Meta, United Parcel Service, HCA Healthcare, General Motors, FMC, Pitt, Carnegie Mellon, Arista Networks, PDD Holdings, Uber Locations: Lam, Caesars, Alibaba

☆ Michael Burry of ‘The Big Short’ fame buys Amazon, Alphabet and a dozen other new stocks
▼ + stars: | 2024-02-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Michael Burry, best known for calling the subprime mortgage crisis, added several new stocks in the fourth quarter, including some leading tech names Amazon and Alphabet , according to a new regulatory filing. The 52-year-old's new Amazon and Alphabet positions were worth more than $4 million each at the end of 2023. The chip ETF fund was up nearly 22% in the fourth quarter. During the fourth quarter, Burry also added small positions in MGM Resorts , Advance Auto Parts , Warner Bros. The latest SEC filing from Scion Asset reflects Burry's holdings as of the end of December.

Persons: Michael Burry, Burry, Michael Lewis Organizations: Scion Asset Management, Healthcare, Oracle, Citigroup, CVS Health, Amazon, iShares Semiconductor, MGM Resorts, Advance, Parts, Warner Bros, Vital Energy, SEC, Scion Asset Locations: Mettler, Toledo, Bruker

The most common measure of inflation, the CPI is expected to have fallen to 2.9% annually from 3.4% while the core CPI, excluding food and energy costs, is forecast to have declined to a 3.7% rate from 3.9% in December. Year-end revisions to 2023 CPI data, released last Friday, showed inflation was actually slightly lower on a monthly basis in December than earlier estimated. “But ‘generally’ doesn’t necessarily mean linear or consistent – there could very well be bumps ahead.”“Core inflation today is being primarily driven by shelter and wage-sensitive core services,” Lin added. Headier growth could mean prices will take longer to revert back to the 2% annual inflation target set by the Federal Reserve. The day also brings the first reading on consumer sentiment for February from the University of Michigan’s key index.

Persons: ”, BeiChen Lin, ” Lin, Jerome Powell, David Andolfatto, Louis, “, Bill Adams, Waran Organizations: Russell Investments, Economic, Federal Reserve Bank, Atlanta’s, Federal Reserve, Research, Miami Herbert Business School, University of Miami, Federal Reserve Bank of St, University of, Comerica Bank, “ Locations: U.S

☆ We hiked our Nvidia price target — encouraged by new highs after Goldman Sachs' bear case takedown
▼ + stars: | 2024-02-05 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

The new Goldman price target — which implies nearly 15.5% upside from Monday's — isn't even the highest on the Street. We're also raising our Club price target on Nvidia to $750 from $600. One of the lowest Nvidia price targets belongs to DA Davidson at $410 per share. NVDA 1Y mountain Nvidia's stock performance over the past 12 months. Nvidia's plan to release a new AI chip each year also adds to the sustainability of data center growth, the analysts argued.

Persons: Goldman Sachs, optimists —, — isn't, We're, Goldman, DA Davidson, Jim Cramer, TSMC, Jim Cramer's, Jim, Jensen Huang, Patrick T Organizations: Nvidia, Goldman, . Rosenblatt Securities, Microsoft, Amazon, Club, Apple, Taiwan Semiconductor Manufacturing Company, Devices, AMD, U.S, CNBC, Mobile, Fallon, Bloomberg, Getty Locations: China, American, Los Angeles

☆ Sorry Elon, Americans don't want a brain chip: poll
▼ + stars: | 2024-02-05 | by ( Walt Hickey | ) www.businessinsider.com time to read: +3 min

Elon Musk last week announced his company Neuralink has implanted its first chip in a human test subject. AdvertisementInterest from potential test subjects is rather slim, as is: just 2% would "definitely" consider getting a computer chip implanted in their brain "within the next year," below the margin of error for the poll. Overall, just 5% of respondents would at all consider getting a chip in the next year. Men were more than three times as likely as women (13% vs 4%) to be down for a commercially produced brain chip eventually. All told, 19% of respondents who said they read Dune would get a commercially available brain chip, and 11% of respondents who said they read Dune would get one this year.

Persons: Elon, —, Elon Musk, Richard Foreman Jr, it's, Flowers, Algernon, Frank Herbert's, Algernon — Organizations: Service, Democrats, Independents, Summit Entertainment Locations: Silicon

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ Premarket stocks: Blue chips are crumbling. Here’s why
▼ + stars: | 2024-01-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Blue chip stocks have long been synonymous with stability and reliability. Named for the most valuable poker chips, these stocks supposedly represent the crème de la crème of the corporate world, companies like Disney, General Motors and Verizon. Known for their strong financial foundations, longevity, and a healthy flow of dividends, blue chip stocks have long been the go-to for investors seeking steady returns. Their values have surged so high that they’ve been buoying the broader market even as many blue chips have struggled. The problem is that despite being included in blue chip ETF indexes, companies like Nvidia and Tesla aren’t truly blue chip stocks, George Pearkes, an analyst at Bespoke, told CNN.

Persons: Tesla, ”, Henry Allen, George Pearkes, Mark Zuckerberg, Zuckerberg, Linda Yaccarino, Evan Spiegel, Jason Citron, Read, Brian Fung, Joe Biden, Frank Pallone Organizations: CNN Business, Bell, New York CNN, Disney, General Motors, Verizon, Nvidia, Apple, Microsoft, Meta, Investment, Nasdaq, Big Tech, Deutsche Bank, Tesla, Target, Pfizer, Nike, Charter Communications, CNN, Tech, —, House Democrats, New, New Hampshire voters, YouMail, House Energy, Commerce Locations: New York, DC, —, New Hampshire

☆ The story of Neuralink: Elon Musk's AI brain-chip company that has implanted its first chip into a human patient
▼ + stars: | 2024-01-30 | by ( Isobel Asher Hamilton | Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

In 2020, Neuralink showed off one of its chips embedded in a pig named Gertrude. The Neuralink device in Gertrude's brain transmitted live data during the demo as she snuffled around. Musk said the pig had been living with the chip embedded in her skull for two months. "This is solid engineering, but mediocre neuroscience," he said. Jackson told Insider following the 2020 presentation that the wireless relay from the Neuralink chip could potentially have a big impact on the welfare of animal test subjects in science, as most neural interfaces currently in use on test animals involve wires poking out through the skin.

Persons: Neuralink, Gertrude, Musk, Andrew Jackson, Jackson Organizations: Newcastle University

☆ AMD's stock surge in past year leads analyst to a 'heck if we know' rating
▼ + stars: | 2024-01-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

But elevated expectations for AI chip growth has led Northland Capital Markets analyst Gus Richard to admit that he's not sure where AMD shares should go from here. "We downgrade on valuation to 'a heck if we know' rating," Richard wrote in a note on Monday. Richard's call is based on his view that investor expectations for AI chip growth have spilled into "irrational exuberance." AMD shares fell about 3.5% to $168.17 as of Monday afternoon. Nvidia shares were up less than 1%.

Persons: Lisa Su, —, Gus Richard, he's, Richard, Jim Breyer Organizations: AMD, Nvidia, Microsoft, Meta, Northland Capital Locations: Las Vegas , Nevada, Northland, U.S, China

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."

Persons: Joanne Hsu, ” Hsu, ”, Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, “, Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: “, Federal Reserve Bank of New York

☆ Analyst says he wouldn't be surprised if there are more U.S. chip export controls on China
▼ + stars: | 2024-01-16 | 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 EmailAnalyst says he wouldn't be surprised if there are more U.S. chip export controls on ChinaDan Hutcheson, vice chair and senior fellow at TechInsights, says "we're still in the middle of this tit-for-tat and there's a lot of hawks in the United States."

Persons: wouldn't, China Dan Hutcheson, we're Locations: U.S, China, United States

Wells Fargo now says it pegs the odds of a recession at 40% in 2024. The Blue Chip Economic survey released last week echoed the bonhomie. More than two-thirds, 69%, of small business and 67% of midsize business leaders expressed optimism about their company’s performance. This week, members of Congress will learn the details and begin signaling whether the plan has the support of both houses. Meanwhile, in Davos, Switzerland, where many of the world’s leaders, business executives and others have gathered for the World Economic Forum’s 54th meeting, Chinese Premier Li Qiang delivered a bullish speech on China’s economic prospects.

Persons: –, Wells, “, ”, Wells Fargo, Sam Bullard, ” Bullard, JPMorgan Chase, Li Qiang Organizations: Federal Reserve, BCA Research, Federal Reserve Bank, Atlanta’s, University of Michigan, Wells, Investment Banking, JPMorgan, Capitol Locations: U.S, Davos, Switzerland

☆ U.S. Attorney in Manhattan Launches Program to Encourage More Self-Disclosure
▼ + stars: | 2024-01-13 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

The U.S. Attorney’s Office for the Southern District has used its jurisdiction over Wall Street to aggressively prosecute financial crimes. Photo: chip east/ReutersThe U.S. Attorney’s Office in Manhattan has launched a pilot program that seeks to offer an incentive to individuals to report to and cooperate with authorities in the prosecution of criminal conduct. The program, announced Wednesday by the U.S. Attorney’s Office for the Southern District of New York, known for shepherding high-profile white-collar criminal cases, aims to help prosecutors bring more misconduct to light.

Organizations: U.S, Attorney’s, Southern, of Locations: Manhattan, of New York

☆ China says the U.S. has 'weaponized' chip export controls
▼ + stars: | 2024-01-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. BEIJING — China's Ministry of Commerce said Thursday the U.S. is weaponizing export controls and using them as a tool. "The United States has instrumentalized and weaponized export control issues," she said, calling for the Dutch side to "respect the spirit of the contract and support businesses in conducting compliant trade." She was responding to a question about ASML, the Netherlands-based company that makes lithography machines that are key to manufacturing advanced semiconductors. ASML said in a Jan. 1 statement the Dutch government restricted it from exporting some lithography products to China.

Persons: Shu Jueting, ASML Organizations: Bund, BEIJING — China's Ministry of Commerce, CNBC Locations: Shanghai, China, BEIJING, United States, Netherlands

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