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The Latest Breaking News from Commerce Department

Politicians Use Subsidies To Squeeze Semiconductor Manufacturers

When politicians manipulate industry, the public pays the price.

Reason

Two Canadian firms included in US sanctions list for alleged support to Russia

The United States' list of recently sanctioned entities for alleged support for Russia's war effort in Ukraine includes two Canadian companies, U.S. and Canadian authorities said on Monday.

Reuters

Big Brother vs Big Tech

Biden wants more chips; Democrats claim they'll protect your health data. Plus: A drone that kills on its own?

Salon

From analysis to the latest developments in health,
read the most diverse news in one place.

China accuses US of attacking companies after export curbs

China has accused Washington of improperly attacking Chinese companies after genetics analysis giant BGI Group and 17 others were hit with curbs on access to U.S. technology on security or human rights grounds

The Independent UK

Billions to spur US semiconductor manufacturing comes with strings attached

WASHINGTON – The Commerce Department is preparing to dole out $39 billion in semiconductor manufacturing incentives, an initiative expected to bring more factories – and jobs – to the U.S.

Tribune News Service

Prison Deaths Spiked by Almost 50 Percent During Early Months of COVID-19 Pandemic

Plus: ACLU urges Congress not to bank TikTok, a backdoor way to subsidize childcare, and more...

Reason

Commerce Dept. issuing aid to build computer chip plants

The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production

The Independent UK

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Now the CHIPS Act Is Going To Subsidize Child Care Too

If Congress wants to spend taxpayer money on child care services, it should pass a bill authorizing that.

Reason

Chip makers must provide childcare plan for access to federal funds

The move is a way for the administration to make progress on expanding child care access.

Axios

Fed's preferred inflation gauge and home sales rise, fueling concern

Washington (AFP) - A key indicator of US inflation rose in January as new home sales jumped more than expected, said government data released Friday, feeding fears that interest rates could stay high for longer.

AFP

Fed's preferred inflation gauge up as spending bounces

Washington (AFP) - A key indicator of US inflation rose in January, according to government data released Friday, while spending bounced after retail sales were boosted by good weather.

AFP

Rebecca Blank dies at 67; renowned economist led the University of Wisconsin

Rebecca Blank was president-elect of Northwestern University last year when a cancer diagnosis led her to step down. She was an advisor to three U.S. presidents.

Chicago Sun-Times

US Adds 6 Chinese Entities Tied to Balloon Program to Blacklist

The Biden administration on Friday added six Chinese entities connected to Beijing's suspected surveillance balloon program to an export blacklist. The new restrictions come after the White House said it would consider broader efforts to "expose and address" China's larger surveillance activities that threaten US national security and allies. The…

Asharq Al-Awsat

US adds six China entities tied to balloon program to blacklist

Washington (AFP) - The US Commerce Department said Friday it has blacklisted six Chinese entities for supporting Beijing's military modernization efforts, particularly relating to aerospace programs including airships and balloons.

AFP

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AFP

US trade deficit widens in 2022 to record on strong imports

Washington (AFP) - The US trade gap widened to a record in 2022, though expanding less than expected in December, government data said Tuesday, capping off the year on robust imports and strong spending.

The Street

Nordstrom Stock Rockets, Adding $1 Billion in Value, On Ryan Cohen Stake Reports

Billionaire investor Ryan Cohen, who has scored big on activist stakes in GameStop and Bed Bath & Beyond, now has his sights set on struggling retailer Nordstrom.

Fortune

The White House just came around to Elon Musk's point about Apple's 'secret 30% tax on everything.'

Tech CEOs, like Mark Zuckerberg and Elon Musk, have long grumbled about the 30% cut developers pay to Apple and Google.

The Independent UK

Apple and Google app stores get thumbs down from White House

The Biden administration is taking aim at Apple and Google for operating mobile app stores it says stifle competition

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news in one place.

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Asharq Al-Awsat

US Curbs Exports to Iranian Firms for Producing Drones for Russia

The United States on Tuesday put new trade restrictions on seven Iranian entities for producing drones that Russia has used to attack Ukraine, the US Department of Commerce said. The firms and other organizations were added to a US export control list for those engaged in activities contrary to US…

Axios

House Science Committee chair looks to make NOAA an independent agency

NOAA has always been an awkward fit in the Department of Commerce.

AFP

New US home sales fall in 2022 on higher mortgage rates

Washington (AFP) - Sales of new US homes exceeded expectations in December but slumped for all of 2022, according to government data released Thursday, as higher mortgage rates weighed on potential buyers.

AFP

US growth slows in 2022 as downturn fears loom

Washington (AFP) - The US economy grew at a slower pace in 2022 but performed better than expected in the final months of last year, the Commerce Department said Thursday, as recession fears loomed.

The Independent UK

US economy slowed but still grew at 2.9% rate last quarter

The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession

Investors Business Daily

Dow Jones Rallies 250 Points; What To Do Now; 10 Best Stocks To Buy And Watch Now

Dow Jones futures were little changed after the Dow Jones Industrial Average rallied 253 points Monday. These are 10 best stocks to buy and watch.

Investors Business Daily

Dow Jones Rises As Dollar Fades; Economic Data, Earnings Reports Due; AMD Surges On Upgrade

The Dow Jones rose Monday ahead of a busy week of key economic data and earnings reports, with Tesla earnings due out Wednesday.

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