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Trending News: Dow Jones Today: Stock Futures Rise as Major Indexes Near Record HighsOil prices steady as Russia, Iran tensions fuel supply fearsUS plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York TimesOil Edges Lower After Surging Last Week on Geopolitical RisksGold Tumbles as Traders Turn Attention to the Fed’s Next MovePrivate Credit, Fed Put Are Crushing Junk Spreads, Marty Fridson SaysSlowing Mexico Inflation and Growth Open Door to Larger CutUnlike a Fine Wine, Tax Issues Do Not Get Better with AgeEconomists See Stubborn Inflation, Gradual Fed Rate-Cut TempoThe rising price of paying the national debt is a risk for Trump’s promises on growth and inflationFed’s Pandemic Program to Help Main Street Is Now a Burden for BusinessesIran Braces for Trump Reset With Economy Buckling From SanctionsGerman giant Bosch becomes latest firm to give employees unwanted 4-day week as economy faltersSuncor’s ‘Rock Star’ Firebag Oil Sands Site Hits Output RecordOil Market ‘Complacent’ About Iran-Sanctions Risks, Rapidan SaysStubborn US Inflation Set to Reinforce Fed’s Go-Slow ApproachShorter Path to Green Card: New USCIS Guidance for EB-1 Eligibility for Foreign Nationals With Extraordinary AbilityTrump is thinking about former Fed governor Kevin Warsh to be his Treasury secretary—and to replace Jerome PowellTrump’s Treasury Pick Wants Shadow Fed Chair, Maybe Weak DollarShe Lived with These Parkinson’s Symptoms for Over a Decade Before DiagnosisFed Announces Details and Focus of Upcoming Framework ReviewSaudi Arabia Gets First Moody’s Upgrade On Economic AdvanceFed announces policy framework review, plans for May 15-16 conferenceFed’s Bowman Says Regulators Shouldn’t Rush to Contain AIThe Pros and Cons of TikTok’s Viral ‘Winter Arc’ Challenge: What to KnowFed survey finds inflation fading as a risk next to debt, trade warsUS Debt Load Tops Fed’s Survey of Financial Stability Risks6 Natural Ozempic Alternatives That Can Help Quiet ‘Food Noise’Selena Gomez Has SIBO: What to Know About This Rare Digestive ConditionYou See Health, Whistleblower Saw Fraud: Uncovering a $23 Million Healthcare Fraud SchemeNew York Fed paper challenges notion of discount window stigmaUS economic output hits highest level since April 2022 amid ‘greater optimism’ among businessesDow Jones Today: Futures Little Changed as Stocks on Pace for Weekly Gains; Bitcoin Nears $100,000Oil heads for weekly gains as Ukraine war intensifiesOil Heads for Weekly Advance as Russia-Ukraine War EscalatesState Bank’s Hedges Cap Indian Borrowing Costs as Economy SlowsTrump considers Warsh for Treasury Secretary and later Fed chairman, WSJ reportsWebsite Use of Third-Party Tracking Software Not Prohibited Under Massachusetts Wiretap ActExxon group pulls out of talks with Guyana over shallow water oil block, government saysOil company Phillips 66 faces federal charges related to alleged Clean Water Act violationsDepartment of Labor’s New Overtime Rule Overturned by Federal Court in TexasBosch to reduce hours for 450 employees due to tough economyStudents can now apply for federal college aid. Officials hope for a smoother rollout this yearSurgeon General: Health Disparities Remain as US Smoking Rates DeclineDow Jones Today: Stock Futures Rise as Investors Digest Earnings Reports; Bitcoin Surges to Another Record High Above $98KOil edges higher as traders weigh escalation of Ukraine conflictFed’s Barkin says US is vulnerable to inflation shocks, FT reportsOil prices firm as geopolitical tensions raise supply concernsFeds outline ‘necessary steps’ for Colorado River agreement by 2026 but no recommendation yetE. Coli Outbreak Linked to Carrots: Symptoms, Risks, and Recalled BrandsFed’s Collins Says More Easing Needed, Final Destination UnknownFed’s Collins sees more rate cuts ahead for US central bankHow to Prepare for the Upcoming Filing Deadline Under the Corporate Transparency Act (CTA)Cook Says Fed Should Cut Rates Over Time, Data Will Guide PaceFed’s Cook: More cuts likely appropriate as disinflation expected to continueDow Jones Today: Stock Futures Inch Higher as Investors Await Nvidia Earnings ReportBridgewater Says Trump May Pick More Accommodating Fed ChiefOil Traders Price In Trump’s Foreign Policy as Bearish for CrudeEx-Federal Reserve Bank Examiner Pleads Guilty to Insider TradesOil Steady as Industry Report Points to Rising US StockpilesAI Transcripts and Investment Advisers: Embracing Technology While Meeting SEC RequirementsFed’s Schmid says it is uncertain how far interest rates can fallKey Fed Backstop Unable to Contain Repo Turmoil, Barclays SaysDaily Walks Could Help You Live Over a Decade LongerTrump Administration Tariffs: Considerations for U.S. and Global CompaniesOil Glut Set to Thwart Trump’s Call to ‘Frack, Frack, Frack’Fed Rate Cuts to Spur $2 Trillion Money-Fund Exit, Apollo’s Slok SaysDow Jones Today: Stock Futures Point to Lower Open As Geopolitical Concerns Rise; Walmart Jumps After EarningsAmazon and Elon Musk’s SpaceX challenge labor agency’s constitutionality in federal courtMorning Bid: Traders focus on Fed as key Trump picks awaitedHoly Hemp: New Jersey Court Partially Invalidates Hemp LawOil Steady After Biggest Gain in Over Five Weeks on Weak DollarOil prices ease, but caution prevails over Russia-Ukraine warOzempic: Best and Worst Thanksgiving Foods to Eat While Taking Weight Loss DrugsMemphis trucking company owner sentenced to federal prison in PPP schemeOil Rises as Geopolitical Tensions Outweigh Weak Market SignalsDow Jones Today: S&P 500, Nasdaq Rise as Market Looks to Recover From Last Week’s SlideThe Rise of Annuities – A Riddle Wrapped in a Mystery Inside an Enigma? [Podcast]Chile Economy Returns to Growth in Small Respite for BoricTesla gains on report Trump’s team planning federal self-driving vehicle regulationsNomura expects Fed to pause rate-cut cycle in DecemberSingapore Oil Tycoon OK Lim Sentenced to 17 1/2 YearsOil prices edge higher after Russia-Ukraine tensions escalateGoldman Says ‘Go for Gold’ as Central Banks Buy, Fed Cuts in ‘25SEC Enforcement Director Highlights Increased Penalties for Violations of Whistleblower RuleBillionaire Tom Steyer: Trump presidency won’t hold back the energy transitionTreasuries See 2024 Gains Dwindle With December Fed Cut at RiskHow the Trump tariffs on Taiwan chips could hurt the AI trade — and the likes of NvidiaTrump win has economists concerned US economy will fail to make soft landingTrump Chooses Oil Fracking Boss Wright as Energy SecretaryNovember 2024 Legal News: Law Firm News and Industry Expansion, Industry Awards and Recognition, DEI and Women in LawCan Donald Trump ‘save TikTok’? The clock is ticking.The Fed’s biggest challenge has become the ‘Sasquatch of the financial world’Charting the Global Economy: US Inflation Progress StallsUS utilities want Trump, Republicans to save inflation act, Edison CEO saysAlaska political leaders hope to see Trump undo restrictions on oil drillingUS Inflation on Strong Trajectory to 2% Goal, Fed’s Collins SaysSTI Epidemic Slows As New Syphilis, Gonorrhea Cases Fall In US, CDC SaysFull House Star Dave Coulier Diagnosed with Stage 3 Non-Hodgkin’s LymphomaAnduril CEO sees opportunity for defense tech startups under Trump
Mon. Nov 25th, 2024

US plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York Times

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    Upgrade to Premium US plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York Times Reuters Sun, Nov 24, 2024, 7:30 PM 1 min read

    In This Article:

    INTC

    (Reuters) – The US government plans to reduce Intel Corp's (INTC) preliminary $8.5 billion federal chips grant to less than $8 billion, the New York Times reported on Sunday citing unnamed sources.

    The change took into account a $3 billion contract Intel had been offered to make chips for the Pentagon, the people told the Times.

    • USD (INTC)

    This spring U.S. President Joe Biden's administration said it was awarding Intel nearly $20 billion in grants and loans, supercharging the company's domestic semiconductor chip output and marking the government's largest outlay to subsidize leading-edge chip production.

    The U.S. announced a preliminary agreement for $8.5 billion in grants and up to $11 billion in loans for Intel in Arizona, with some of the funding to be used to build two new factories and modernize an existing one.

    Intel CEO Pat Gelsinger delivers a speech at the COMPUTEX forum in Taipei, Taiwan June 4, 2024. REUTERS/Ann Wang · Reuters / Reuters

    The outlay was part of the 2022 CHIPS and Science Act, a bid to boost domestic semiconductor output with $52.7 billion in funding, including $39 billion in subsidies for semiconductor production and $11 billion for research and development.

    (Reporting by Mike Stone and Costas Pitas; Editing by Kim COghill)

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