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Global chip shortage: chip manufacturer snubs Biden

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global chip shortage

US President Joe 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 dollar 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.

Global Foundries edges towards $30 billion

Global Foundries is also in the process of an initial public offering in the US, which could value the chip maker at $30 billion.

The company says it will devote $1 billion dollars to both its Germany and United States sites.

The company’s move to increase production in Asia has prompted further concerns from western nations about national security.

Biden funds chip-making research

It comes as the Biden administration prepares to spend $52 billion to fund chip-making and research in the US.

The President is under increasing pressure to secure a constant supply of this crucial tech that is used in so many modern devices.

Read more about the global chip shortage here:

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly ticker Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Germany recalls Tesla models due to emergency fault

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Tesla is in the spotlight again, with Germany’s road traffic agency recalling models Y and 3 due to a fault in the automatic emergency call system

It’s a fault that could possibly impact around 59,000 vehicles globally.

Germany’s watchdog says a software flaw is causing a breakdown of the e-Call, a system designed to alert authorities after a serious accident.

The glitch follows the company delivered almost 18 per cent fewer electric vehicles in the second quarter than in the previous.

This is largely due to China’s Covid-19-related shutdowns and the ongoing supply chain crunch.

Meanwhile, CEO Elon Musk says Tesla’s new factories in both Texas and Berlin are “losing billions of dollars”.

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World’s first city to charge tourists for visiting

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If you’re lucky to be heading abroad this summer, a visit to the famous canals in Venice, Italy might be on your itinerary, but beware of new fees to come.

Venice will charge most of its visitors an entry fee from next year as it tries to tackle overcrowding.

The city’s tourism chief says Venice are pioneers and will be the first city in the world to apply a measure that could be revolutionary.

From mid January next year, day-trippers must book their visit online before travelling.

They will pay a basic fee of 3 euro, which will rise to 10 euro at peak times.

Tourism is bouncing back in Venice after the pandemic with daily visitors again often outnumbering the 50-thousand residents of the city centre.

The scheme will be closely watched by other popular tourist destinations, overwhelmed with travellers around the world.

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Pubs in UK declining by thousands, new research

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It’s no secret Brit’s love their Pub Grub, but plating up Bangers and Mash is a tradition on the decline

The number of pubs in England and Wales is continuing to fall, hitting its lowest level on record this year

After struggling through Covid the industry now faced soaring prices and higher energy costs, it warned.

There were just under 40-thousand pubs in June, down by 7,000 in the past decade, according to new research.

In fact, thousands of pubs have closed as younger people drink less, supermarkets sell cheaper alcohol and the industry complains of being too heavily taxed.

Pubs which had “disappeared” from the communities they once served had either been demolished or converted for other purposes, meaning that they were “lost forever”.

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