Report: Intel to Lay Off 20% of Factory Workers in Massive Cutback
Intel reportedly plans to lay off up to twenty percect of its factory workers, an enormous cutback that will have a profound effect on one of the chipmaker’s core businesses.
CHIPS Act
Exclusive — Sen. Tom Cotton Proposes Repeal of DEI Requirements for STEM Workforce
Sen. Tom Cotton (R-AR) on Tuesday proposed legislation that would scrap diversity, equity, and inclusion (DEI) requirements and restore the original intent of the CHIPS and Science Act.
Trump Estimates ‘$4 Trillion Worth of Companies’ Are ‘Moving Back’ to U.S.
President Donald Trump estimated that his administration has already identified “maybe $4 trillion worth of companies moving back or going to move back” to the United States thanks to his tariff policies.
Intel Dumps CEO Pat Gelsinger as Chipmaker’s Turnaround Lags Behind Expectations
Intel’s board of directors has forced out CEO Pat Gelsinger due to frustrations over the slow pace of the company’s turnaround efforts.
CHIPS Act in Pieces as Biden-Harris Administration Cuts Grant to Intel
The Biden-Harris administration on Sunday said it plans to cut its grant to Intel, dealing a blow to the Democrats’ industrial policy vision.
Exclusive: House GOP to Unleash America’s Financial Power to Revitalize American Manufacturing
Rep. French Hill (R-AR), vice chairman of the House Financial Services Committee, told Breitbart News that House Republicans could work to unleash America’s financial power to revitalize American manufacturing.
Kamalanomics: Intel Announces Dismal Financial Results, Will Lay Off 15,000 Workers
Intel, the world’s largest chipmaker, has unveiled a sweeping $10 billion cost savings plan that includes cutting over 15,000 jobs, representing approximately 15 percent of its global workforce. Meanwhile, the administration is set to hand over $8.5 billion as part of the CHIPS act designed to create high tech jobs.
Trying to Win Back Big Tech: Joe Biden Gives $504 Million to Tech Investment Hubs Across United States
President Joe Biden’s administration is reportedly giving $504 million in funding to twelve technology hubs in an effort to expand research in AI, semiconductor manufacturing, and clean energy.
Zakaria: Our Chip Subsidies Are Rewarding Those Who Are Less Innovative the Most
During an interview with PBS’s “Firing Line” that took place on May 1 and was released on Friday, Washington Post columnist and CNN host Fareed Zakaria stated that the way we’re subsidizing chip companies to manufacture in the U.S. isn’t effective because
Intel Awarded Up to $8.5 Billion in CHIPS Act Grants for Facilities in 4 States
Intel will reportedly be awarded as much as $8.5 billion in federal grants related to the CHIPS Act, with up to $11 billion more in potential loans available. The funds are expected to be used for manufacturing and research facilities in Arizona, New Mexico, Ohio, and Oregon.
Pentagon Yanks $2.5 Billion in CHIPS Act Funding from Intel
The Pentagon’s surprise decision to withdraw $2.5 billion in funding for Intel’s semiconductor manufacturing plans has created a significant shortfall in the company’s expected incentives under the CHIPS Act.
Exclusive — Trump on ‘Made in America’: ‘We Were Moving Big on Bringing All That Back,’ But Biden Screwed It Up
Former President Donald Trump excoriated Democrat President Joe Biden for screwing up efforts his administration began to make important stuff in America again during an exclusive interview with Breitbart News.
Breitbart Business Digest: The Case Against Recession Is Building
The bones of the U.S. economy are looking good as we hurtle toward the warming months.
China Asks World Trade Organization to Punish U.S. for Chip Policy
The Chinese government on Tuesday asked the World Trade Organization (WTO) to crack down on U.S. policies intended to revitalize the domestic computer chip industry.
Joe Biden Sets Up $11 Billion Semiconductor Network to Boost Domestic Manufacturing
President Joe Biden’s administration is setting up a network of advanced computer-chip facilities to boost domestic manufacturing.
Netherlands Joins U.S. Efforts to Restrict Semiconductor Exports to China
The government of the Netherlands is joining a U.S.-led effort to restrict the export of semiconductor chips to China, a campaign aimed at slowing the growth of the communist country’s military.
Report: China Leading World in A.I., Biotech, Space Research
The Australian Strategic Policy Institute (ASPI) on Thursday launched a project called the Critical Technology Tracker, which collects and visualizes data representing worldwide progress on “crucial technology fields spanning defense, space, robotics, energy, the environment, biotechnology, artificial intelligence, advanced materials and key quantum technology areas.”
Carney on ‘Kudlow’: The Fed’s ‘Historic Mistake’ in Cutting Rates ‘Refueled Inflation’
The Federal Reserve’s decision to scale back rate hikes at their last two meetings will be “looked at as an historic mistake because that refueled inflation,” Breitbart Economics Editor John Carney said.
Khanna: Even with CHIPS Act, ‘A Lot of’ Chips for Cars, Appliances ‘Being Produced in China or Offshore’
During an interview aired on Thursday’s broadcast of NPR’s “All Things Considered,” Rep. Ro Khanna (D-CA) stated that even though there are incentives to produce chips in the United States under the CHIPS and Science Act that he co-wrote, “a
Poll: Over 80% of Americans See China as a Human Rights, Economy, Military Problem
The Pew Research Center on Wednesday released a poll showing that most American voters are not terribly concerned about Chinese dictator Xi Jinping effectively securing life in power with an unprecedented third term, but they do see Communist China as a problem from various angles, including its human rights abuses and the threat it poses to democratic Taiwan.
Report: Intel Plans to Cut Thousands of Jobs
Chip giant Intel is reportedly planning to scrap thousands of jobs, likely in an attempt to cut fixed costs and deal with a slowdown in the computer market, Bloomberg reports.
Poll: Republican Jim Bognet in Dead Heat with Democrat in PA’s 8th Congressional District
Republican Jim Bognet is tied with Rep. Matt Cartwright (D-PA) in the race for Pennsylvania’s Eighth Congressional District, which includes President Joe Biden’s hometown of Scranton.
Democrat Matt Cartwright Took Thousands in Campaign Donations from Uyghur Labor-Linked Corporations
Rep. Matt Cartwright (D-PA) has reportedly accepted tens of thousands of dollars of campaign donations from Uyghur labor-linked corporations during his time in Congress.
Fmr. Obama Adviser Goolsbee: Inflation Reduction Act Will Have ‘Relatively Modest’ Impact on Immediate Inflation
On Friday’s broadcast of Bloomberg’s “Bloomberg Markets,” Economics Professor at the University of Chicago Booth School of Business Austan Goolsbee, who served as Chairman of the Council of Economic Advisers under President Barack Obama, stated that the Inflation Reduction Act and
Donald Trump: Democrats ‘Played’ Mitch McConnell ‘Like a Fiddle’ on Reconciliation Bill
Former President Donald Trump ripped Senate Minority Leader Mitch McConnell (R-KY), stating Democrats bamboozled him on the $700 billion Inflation Reduction Act.
Democrats Poised to Spend $3.5 Trillion During Historic Inflation with Republican Help
President Joe Biden and congressional Democrats, with Republican help, are poised to spend $3.5 trillion during decades-high inflation.
