White House Invests Additional $162 Million in Expanding US Semiconductor Industry
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
White House Invests Additional $162 Million in Expanding US Semiconductor Industry
White House Invests Additional, $162 Million in Expanding , US Semiconductor Industry.
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production.
.
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production.
.
The additional funding comes as the second injection
of funds into the industry from a 2022 law aimed
at revitalizing U.S. semiconductor manufacturing.
Incentives reportedly include $90 million to improve
a manufacturing plant in Colorado Springs, Colorado,
and another $72 million for a factory in Gresham, Oregon.
.
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production.
.
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production.
.
Funding is meant to boost production of microcontrollers,
which have applications in everything from the military and
auto industries to household appliances and medical devices.
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years.
.
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years.
.
Semiconductors are the key
input in so many goods that
are vital to our economy, Lael Brainard, director of the White House
National Economic Council, via CNBC.
Lael Brainard, director of the White House National
Economic Council, suggests that increased
U.S. production could help tame inflation.
.
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
CNBC reports that government officials
said that additional funding commitments
to the sector are expected in 2024
Iranian President Ebrahim Raisi perished in a helicopter crash in Jolfa, attributed to dense fog and harsh weather conditions. Despite international efforts, including assistance from the European Union, no survivors were found. US State Department Spokesperson Matthew Miller expressed condolences but maintained the US's unchanged stance towards Iran, citing Raisi's contentious legacy. Iran sought US aid in the search, but logistical constraints prevented assistance.
#IranPresidentHelicopterCrash #RaisiDeath #RaisiDeathVideo #RaisiBodyFound #EbrahimRaisiCrashVideo #Iran #EbrahimRaisi #HelicopterCrash #Bell212 #IranianTragedy #Investigation #AccidentDetails #PublicSafety #RaisiDeath #HelicopterIncident #IranianPresident #EmergencyResponse #AviationSafety #BreakingNews #NewsUpdate
#oneindianews #oneindiaenglish #breakingnews
#worldnews #englishnewslive #englishnews #latestnews #news
~PR.320~ED.155~GR.125~HT.96~
The International Criminal Court is also looking into issuing arrest warrants for three senior Hamas leaders, a move US president Joe Biden slammed as outrageous, saying there is "no equivalence" between Israel and Hamas.
Credit: euronews (in English) Duration: 02:11Published
Joe Biden has said 'what is happening in Gaza is not genocide' following an arrest warrant request by the International Criminal Court prosecutor for Israeli.. Sky News
Cargo ship Dali, stuck under Baltimore's Francis Scott Key Bridge for 55 days, finally moved to port. Indian crew hailed for alerting authorities, saving lives... IndiaTimes
Hims and Hers , to Offer Weight Loss Injections.
GLP-1 medications like Ozempic and Wegovy have become increasingly popular.
However, the market has faced some supply constraints recently because of that popularity.
On May 20, Hims & Hers Health announced that it will be providing access to compounded GLP-1 weight loss injections, CNBC reports. .
Company shares jumped over 30%
following the announcement.
Compounded versions of medications are created
by certain manufacturers who meet FDA requirements when there are medication shortages.
However, the products are not tested
for safety and efficacy by the FDA.
The new offering of compounded GLP-1 medications can be accessed by getting a prescription from a health care provider on the Hims & Hers site.
Branded GLP-1 injections will be made available
once the supply becomes more consistent.
The price for compounded injections will
start at $199 per month, CNBC reports. .
Prior to announcing its GLP-1 offerings,
Hims & Hers revealed in an earnings report...
... that it anticipates its weight loss
program to garner over $100 million
worth of revenue by December 2025.
Hims & Hers CEO Andrew Dudum said that he is "confident" that a steady supply of the compounded injections will be available for customers.
We have a certain degree of
exclusivity with that facility that
will guarantee our consumers
consistent volume and supply, Hims & Hers CEO Andrew Dudum, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
We’re in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
Credit: Wibbitz Top Stories Duration: 01:30Published
Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employees’
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts — no matter which
government they’re with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
We’ve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didn’t make these decisions
lightly, and we’re committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
Biden Wants to Increase Tariffs , on Chinese Steel and Aluminum Imports.
Speaking from the United Steelworkers
union in Pennsylvania on April 17.
Speaking from the United Steelworkers
union in Pennsylvania on April 17.
Biden will call on U.S. Trade Representative Katherine Tai to triple tariffs on Chinese
steel and aluminum, NPR reports. .
Biden will call on U.S. Trade Representative Katherine Tai to triple tariffs on Chinese
steel and aluminum, NPR reports. .
Those tariffs are presently at about 7.5%.
While these Chinese imports "account for less than 1% of U.S. demand," the country's steel prices are 40% cheaper than America's, NPR reports. .
The White House is concerned that
this could prompt a surge of exports. .
China's policy-driven overcapacity poses
a serious risk to the future of the
American steel and aluminum industry, Lael Brainard, Biden's top economic adviser, via NPR.
The president understands
we must invest in American
manufacturing, but we also have
to protect those investments and
those workers from unfair exports. , Lael Brainard, Biden's top economic adviser, via NPR.
The Biden administration also sent officials to Mexico to discuss preventing Chinese steel from entering the U.S. via its southern neighbor. .
I want to emphasize our desire to
cooperate and partner with Mexico
on addressing imports coming in
to the North American market as
a way of circumventing tariffs, Senior administration official, via NPR.
I'm not going to get ahead
of the diplomatic conversations
that have happened today and
that will be happening in the
days and weeks to come. , Senior administration official, via NPR.
But I think we're hoping to come to
a mutually acceptable solution with
Mexico, because this is a problem that
affects both of our economies, Senior administration official, via NPR.
United Steelworkers recently endorsed Biden
after he voiced his opposition to a U.S. Steel takeover by Nippon Steel, a Japanese company. .
United Steelworkers recently endorsed Biden
after he voiced his opposition to a U.S. Steel takeover by Nippon Steel, a Japanese company.
Credit: Wibbitz Top Stories Duration: 01:31Published
March Retail Sales , Exceeded Expectations.
New Commerce Department data surprised
some analysts on April 15, 'The Hill' reports. .
The agency's latest estimates indicate
that March retail sales increased by 0.7%.
They were only expected
to rise 0.3% last month.
While sales exceeded estimates for March, the jump
was still below the 0.9% increase in February.
Compared to the same time last year, total sales
for the first three months of 2024 were up 2.1%.
On April 10, the Labor Department released data showing that inflation rose last month. .
The consumer price index (CPI)
increased 0.4% in March and 3.5% annually.
In February, consumer prices
increased 3.2% year-over-year. .
Still, the newest Commerce Department data suggests that Americans continue to spend despite prolonged inflation, 'The Hill' reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Supreme Court Considers Letting Cities , Punish Homeless for Sleeping Outside.
On April 22, the Supreme Court will hear a case out of Grants Pass, Oregon, which has a population of less than 40,000, NPR reports. .
'Grants Pass v. Johnson' seeks to challenge two
9th U.S. Circuit Court of Appeals rulings which found fining or jailing the unhoused to be cruel and unusual punishment when they have no other alternative.
'Grants Pass v. Johnson' seeks to challenge two
9th U.S. Circuit Court of Appeals rulings which found fining or jailing the unhoused to be cruel and unusual punishment when they have no other alternative.
But Grants Pass argues that public health and safety are dependent on camping restrictions that are commonly found across America. .
The city contends that homeless encampments pose a danger to those living
in them, as well as to families and children.
This is because the encampments
are often filled with people who need
mental health and drug addiction resources.
Advocates for the unhoused say that criminalizing sleeping outside is counterproductive. .
Punishing someone for doing
something they have no control
over, no ability to not do, is not
going to end that status. In fact,
not only does criminalization not
work, it makes matters worse. , Ed Johnson of the Oregon Law Center, via NPR.
A criminal record and debt from fines would make it even more difficult for a homeless person to find housing, says Ed Johnson of the Oregon Law Center.
But many cities don't have
enough permanent housing to offer.
Grants pass could use about 4,000 more housing units, while the national
"deficit is in the millions," NPR reports.
The shortage has caused rents to skyrocket, which is a main driver of homelessness
Credit: Wibbitz Top Stories Duration: 01:31Published
This Day in History:, The Great San Francisco Earthquake.
April 18, 1906.
At 5:13 a.m., an earthquake
struck offshore of San Fransisco,
a city with a population of 400,000 at the time.
The quake was felt from
southern Oregon to Los Angeles,
and ruptured 296 miles of the San Andreas fault.
Destroying San Francisco's water mains,
the quake ignited massive, devastating
fires all over the city that could not be combated.
The fires burned for days,
resulting in the deaths of more than
3,000 people and destroying more than 28,000 buildings.
More than half of the city was
left homeless by the disaster.
Damages were estimated to close to $15 billion in
today's dollars. The recovery and rebuild allowed city
planners to make great improvements to San Francisco
Credit: Wibbitz Top Stories Duration: 00:57Published
Biden Announces $5 Billion , in New Infrastructure Projects.
President Biden visited Superior, Wisconsin, on Jan. 25, CBS News reports. .
While there, he revealed an investment of nearly $5 billion..
Credit: Wibbitz Top Stories Duration: 01:30Published
![Ebrahim Raisi's Death: U.S Joe Biden Provokes Iran With His Comment Over President's Death [Video]](https://video.newsserve.net/300/v/20240521/1376025898-Ebrahim-Raisi-Death-Joe-Biden.jpg)
!['New antisemitism': Israeli PM Netanyahu slams ICC arrest warrant [Video]](https://video.newsserve.net/300/v/20240521/1376020574-New-antisemitism-Israeli-PM-Netanyahu-slams-ICC.jpg)
![Hims and Hers to Offer Weight Loss Injections [Video]](https://video.newsserve.net/300/v/20240520/1376000346-Hims-and-Hers-to-Offer-Weight-Loss-Injections.jpg)
![Key Federal Reserve Inflation Gauge Rose 2.8% in March [Video]](https://video.newsserve.net/300/v/20240426/1373828506-Key-Federal-Reserve-Inflation-Gauge-Rose.jpg)
![Netflix Exceeds Earnings Estimates As Subscribers Increase [Video]](https://video.newsserve.net/300/v/20240419/1373185500-Netflix-Exceeds-Earnings-Estimates-As-Subscribers-Increase.jpg)
![Google Fires Employees for Protesting Israel Contract [Video]](https://video.newsserve.net/300/v/20240418/1373009054-Google-Fires-Employees-for-Protesting-Israel-Contract.jpg)
![Amazon Cuts Hundreds of Cloud Computing Jobs [Video]](https://video.newsserve.net/300/v/20240404/1371853546-Amazon-Cuts-Hundreds-of-Cloud-Computing-Jobs.jpg)
![Biden Wants to Increase Tariffs on Chinese Steel and Aluminum Imports [Video]](https://video.newsserve.net/300/v/20240417/1372899604-Biden-Wants-to-Increase-Tariffs-on-Chinese-Steel.jpg)
![March Retail Sales Exceeded Expectations [Video]](https://video.newsserve.net/300/v/20240416/1372826444-March-Retail-Sales-Exceeded-Expectations.jpg)
![Supreme Court Considers Letting Cities Punish Homeless for Sleeping Outside [Video]](https://video.newsserve.net/300/v/20240422/1373460088-Supreme-Court-Considers-Letting-Cities-Punish-Homeless-for.jpg)
![This Day in History: The Great San Francisco Earthquake [Video]](https://video.newsserve.net/300/v/20240418/1372987608-This-Day-in-History-The-Great-San-Francisco.jpg)
![Biden Announces $5 Billion in New Infrastructure Projects [Video]](https://video.newsserve.net/300/v/20240125/1364231442-Biden-Announces-Billion-in-New-Infrastructure-Projects.jpg)
