New York City street vendors and supporters rally on Thursday outside city hall, calling for reform to legitimize street businesses. Vendors are demanding the city ensure access to licenses, open more legal vending locations, offer services and training, and repeal criminal liability for vendors.
Taiwan Semiconductor Manufacturing’s (TSMC, 台積電) first wafer fab in Kumamoto, Japan is still set to launch commercial production in the fourth quarter of this year as planned, the world’s largest contract chipmaker said on Saturday in response to reports that mass production might begin ahead of schedule. TSMC said the monthly production capacity of the joint venture fab, Japan Advanced Semiconductor Manufacturing (JASM), is expected to hit 55,000 units of 12-inch wafers, using the mature 12-nanometer, 16-nanometer, 22-nanometer and 28-nanometer processes. JASM is owned by TSMC and its Japanese business partners Sony Semiconductor Solutions Corp and Denso Corp, with the Taiwanese company
US President Joe Biden’s administration is in talks to confer more than US$10 billion in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil. Intel’s award package is expected to include both loans and direct grants, the source said. They stressed that negotiations are still under way. The US Department of Commerce and Intel declined to comment. The incentives would come from the 2022 Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, which set aside US$39 billion in direct grants as
Super Micro Computer Inc’s lengthy rally came to a shuddering halt on Friday, with a selloff that derailed what had looked to be the server maker’s best week on record. Shares fell 20 percent, their biggest one-day percentage drop since August last year. The decline comes in the wake of a nine-session run of gains, the longest such streak for the stock since 2016. However, even with the day’s selloff, the stock rose 8.5 percent for the week. Despite Friday’s drop, recent gains show how Super Micro has become one of the hottest names in artificial intelligence (AI). The stock has risen
ECONOMY TWEAK: Lowering the rate would allow more cities in China to reduce minimum mortgage rates for homebuyers, which might stimulate sluggish demand China yesterday ramped up support for its property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come. Chinese lenders slashed their five-year loan prime rate (LPR) by 25 basis points to 3.95 percent, the People’s Bank of China said. It was the first cut since June last year and the largest reduction since a revamp of the rate was rolled out in 2019. Lowering that rate will allow more cities in China to reduce minimum mortgage rates for homebuyers, which might stimulate sluggish demand for apartments