Money
Is a $52 billion boost enough to end a global chip shortage?
As the race to combat the global chip shortage continues the Biden administration is big to end the crisis
US President Joe Biden is preparing to spend $52 billion to boost the worsening shortage of semiconductor chips.
The White House is still waiting for congressional approval on the big spend but is pushing ahead with plans of how to invest the money wisely.
The Commerce Secretary says America “needs to incentivise the manufacturing of chips” if the country wants the crisis to end.
She added that officials have been speaking with the impacted industries on a daily basis which has helped address the shortage from the ground up.
Whilst there have been reports that the sector is gradually improving, but the car manufacturing sector may still be impacted by delays.
Biden recently called for Semiconductor chips to be produced locally in the US, but this company is ignoring his plea.
Semiconductor manufacturer ‘Global Foundries’ has ignored US President Joe Biden’s request for new plants to be built locally amid the global chip shortage.
Construction will begin on the $4 billion Asian plant in 2023. This goes against the Biden administration’s wishes to return chip manufacturing to American soil.
The company will join rivals including ‘Samsung’ and ‘Taiwan Semiconductor Manufacturing Co’ which are all also trying to address the current chip shortage.
The President has been under increasing pressure to secure a constant supply of this crucial tech that is used in so many modern devices.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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