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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

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

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.

Fortune

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

The Independent UK

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…

Asharq Al-Awsat

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news in one place.

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Axios

House Science Committee chair looks to make NOAA an independent agency

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

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

Tribune News Service

Key inflation gauge cools, US consumer spending misses forecasts

The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand — with more tightening on the way.

The Independent UK

An inflation meaasure watched by the Fed eases to 5.5%

A measure of inflation closely watched by the Federal Reserve slowed last month, another sign that a long surge in consumer prices seems to be easing

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news in one place.

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One news app.

The News Lens

China Trying To Fight Back US Ban on Its Chip Industry

On Thursday, the U.S. government broadened its crackdown on China’s chip industry by adding memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a Commerce Department trade blacklist.

Bangkok Post

US to expand solar panel tariffs after probe finds Chinese evasion

The United States will impose new duties on imports from some major Chinese solar panel makers after a months-long investigation found they were trying to dodge tariffs by finishing their products in Southeast Asian countries, trade officials said on Friday.

Tribune News Service

US inflation indicator rises by less than forecast as spending increases

A key gauge of U.S. consumer prices posted the second-smallest increase this year while spending accelerated, offering hope that the Federal Reserve’s interest-rate hikes are cooling inflation without sparking a recession.

Benzinga

US Stocks In For Another Tough Day After Fed Rate Hike As Nasdaq, S&P 500 Futures Fall — Roku, Qualcomm Plunge On Earnings Disappointment

The U.S. index futures are pointing to a lackluster start on Wall Street Thursday, as rate worries linger. On Wednesday, the major averages experienced a bout of volatility in the aftermath of the Fed decision and closed notably lower. The market showed tentativeness in the run up to the Fed…

Tribune News Service

Chip makers offer big investments as they jockey for federal aid

WASHINGTON — The world’s top semiconductor makers have announced in recent months long-term U.S. investments that could rise to more than $400 billion, citing support from a new federal aid program for which the rules have yet to be written.

Roll Call

Chipmakers offer big investments as they jockey for federal aid - Roll Call

The jockeying for federal money for semiconductor manufacturing has begun as global producers announce big investment plans.

France 24

Why semiconductors are central to world economy, geopolitics

The Chinese Communist Party Congress opens in Beijing on October 16, a week after Washington imposed tight restrictions on exports of invaluable semiconductor technology to China in a bid to stop it from surpassing the US economically and militarily. As semiconductors emerge as a key battleground, FRANCE 24 spoke to…

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