The global race to build domestic factories and sever dependency on overseas suppliers for these critical components is spurring a spending boom, and the biggest beneficiaries so far are arguably the chipmakers.
Zimbabwe’s central bank has ruled out further interest-rate increases because they would have potentially negative repercussions, Governor John Mangudya said.
Germany will finance a subsidy package worth €10 billion ($10.9 billion) for a planned Intel Corp. chip facility in Magdeburg via its special climate and transformation fund, according to people familiar with the plans.
(Bloomberg) — The European Central Bank has completed most of its interest rate increases, and possible further hikes would be less important in fighting inflation than the duration of tight monetary policy, Bank of France Governor Francois Villeroy de Galhau said.
UK Prime Minister Rishi Sunak faces criticism from within his own Cabinet over plans to pay the European Union for access to its Frontex border agency that would be limited by Britain’s post-Brexit status.
US housing starts unexpectedly surged in May by the most since 2016 and applications to build increased, suggesting residential construction is on track to help fuel economic growth.
Stocks slid on Tuesday as the second-quarter rally met resistance from economic headwinds and signs of stretched positioning. Treasuries advanced.
State-backed firms from the Netherlands will help create a $1 billion green hydrogen fund for investment in South African projects as part of Dutch and Danish investments in renewable energy announced at an event in Pretoria attended by the leaders of the three countries.
Germany and China tentatively agreed to bind their economies more closely together and join forces to tackle climate change, even as Chancellor Olaf Scholz’s ruling coalition increasingly views the government in Beijing as a rival rather than partner.
The government of Abu Dhabi is taking a 7% stake in Nio Inc. and will gain a board seat, giving the electric carmaker a capital infusion as it contends with losses and uncertain demand in China’s competitive EV market.
