China-US Trade Fight Clouds Vibrant Market for Used Chip Gear
Welcome to Tech In Depth, our revamped daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Mayumi Negishi writes from Tokyo about the world of used chipmaking equipment, where trade restrictions cast a big shadow.
Executive shake-up: In a surprise announcement, Nokia said Intel's newly appointed head of artificial intelligence, Justin Hotard, will become chief executive officer of the Finland-based telecom company. He replaces Pekka Lundmark, who spent four years in the post.
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Hamilton Spectator
16 minutes ago
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Chatham-Kent launches Together CK Core Grants to support long-term community growth
The Municipality of Chatham-Kent has opened applications for its 2026–2029 Together CK Core Grant Program, offering non-profit and charitable organizations a chance to secure long-term operational and program funding to help meet community needs and build organizational capacity. Applications are being accepted until Monday, June 30, 2025, at noon, for the four-year grant cycle. The program supports Chatham-Kent-based non-profit corporations and registered Canadian charities through a competitive process. Successful applicants will receive funding to help deliver programs and services aligned with Chatham-Kent council's term priorities, which include service excellence, community well-being, environmental sustainability and growth. 'Past organizations supported through Together CK Core Grants include senior and youth centres, local youth camps, music and arts groups, and social services organizations,' said Peter Sulman, co-ordinator of community grants with Community Culture and Connections. 'This stream is distinct from the annual Together CK Events and Community Projects streams, which are designed for short-term or one-time initiatives.' Sulman said the Core Grant program is a strategic tool used to invest in initiatives that demonstrate alignment with municipal priorities and contribute positively to the community. 'The Core Grant Program uses council term priorities as a framework,' he said. 'It's important that applicants clearly show how their organization's services align with these goals. It strengthens the application and better illustrates the community impact of their work.' The Core Grant stream remains unchanged in terms of eligibility and guidelines, though Sulman emphasized a key distinction: only incorporated non-profits or registered charities are eligible, unlike the more flexible requirements for annual project-based grants. Virtual information sessions about the program were held in May. Sulman also had advice for smaller or newer organizations in Chatham-Kent. He noted that neither size nor longevity affects an organization's ability to qualify for Core Grant funding. 'We encourage all applicants to highlight the real impact their work has on the lives of Chatham-Kent residents,' he said. 'Using data, testimonials and community feedback to demonstrate need is incredibly helpful. Emphasizing how their work addresses gaps or unrecognized needs is key.' The Together CK Core Grant program has long been instrumental in enabling community groups to grow their services and reach, including in smaller communities like Tilbury. 'This funding is open to all eligible organizations, regardless of where they're located in the municipality,' Sulman said. 'The goal is to support the incredible efforts of local volunteers and service providers who are making a difference in every corner of Chatham-Kent.' Applications and full funding guidelines are available online at . Applicants who need support or accommodations to complete the application process can call 519-360-1998 or email TogetherCK@ . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Business Insider
2 hours ago
- Business Insider
Tesla's (TSLA) Full Self-Driving Could Expand in China Due to New Data Export Rules
China has released draft guidelines that could help EV maker Tesla (TSLA) expand its advanced driver-assistance features in the country, according to a Bloomberg report on Friday. For the first time, Beijing has provided clear rules on how data generated in China, including from driver-assistance systems and product development, can be accessed, used, and exported. This is an important step for companies like Tesla, which need to send data abroad in order to improve their systems. Confident Investing Starts Here: The proposed guidelines were published by China's Ministry of Industry and Information Technology, along with seven other government agencies, and are now open for public comment. The framework covers key types of information, such as autonomous driving algorithms, training images, operational data, and vehicle-to-road perception data. These are all critical for developing and improving advanced driver-assistance technologies like Tesla's Full Self-Driving (FSD) system. Being able to export this data is especially valuable for Tesla because the core team working on FSD is based in the U.S., and having access to real-world data from Chinese roads would help optimize the system's performance in China, the world's largest car market. It's worth noting that, until now, strict data controls have been a barrier for foreign automakers. However, the new guidelines could provide Tesla with a clearer path to making its most advanced driver-assistance features more competitive in China. What Is the Prediction for Tesla Stock? Overall, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $285.97 per share implies 12.1% downside risk.
3 hours ago
Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms
WASHINGTON -- President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a 'national security agreement' submitted by the federal government. Trump's order didn't detail the terms of the national security agreement. But the iconic American steelmaker and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a ' golden share" — essentially veto power to ensure the country's national security interests are protected against cutbacks in steel production. 'We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership," the two companies said. "This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.' The companies have completed a U.S. Department of Justice review and received all necessary regulatory approvals, the statement said. 'The partnership is expected to be finalized promptly,' the statement said. U.S. Steel rose $2.66, or 5%, to $54.85 in afterhours trading Friday. Nippon Steel's original bid to buy the Pittsburgh-based U.S. Steel in late 2023 had been valued at $55 per share. The companies offered few details on how the golden share would work, what other provisions are in the national security agreement and how specifically the $11 billion would be spent. White House spokesman Kush Desai said the order 'ensures U.S. Steel will remain in the great Commonwealth of Pennsylvania, and be safeguarded as a critical element of America's national and economic security.' James Brower, a Morrison Foerster lawyer who represents clients in national security-related matters, said such agreements with the government typically are not disclosed to the public, particularly by the government. They can become public, but it's almost always disclosed by a party in the transaction, such as a company — like U.S. Steel — that is publicly held, Brower said. The mechanics of how a golden share would work will depend on the national security agreement, but in such agreements it isn't unusual to give the government approval rights over specific activities, Brower said. U.S. Steel made no filing with the U.S. Securities and Exchange Commission on Friday. Nippon Steel originally offered nearly $15 billion to purchase U.S. Steel in an acquisition that had been delayed on national security concerns starting during Joe Biden's presidency. As it sought to win over American officials, Nippon Steel gradually increased the amount of money it was pledging to invest into U.S. Steel. American officials now value the transaction at $28 billion, including the purchase bid and a new electric arc furnace — a more modern steel mill that melts down scrap — that they say Nippon Steel will build in the U.S. after 2028. Nippon Steel had pledged to maintain U.S. Steel's headquarters in Pittsburgh, put U.S. Steel under a board with a majority of American citizens and keep plants operating. It also said it would protect the interests of U.S. Steel in trade matters and it wouldn't import steel slabs that would compete with U.S. Steel's blast furnaces in Pennsylvania and Indiana. Trump opposed the purchase while campaigning for the White House, and using his authority Biden blocked the transaction on his way out of the White House. But Trump expressed openness to working out an arrangement once he returned to the White House in January. Trump said Thursday that he would as president have 'total control' of what U.S. Steel did as part of the investment. Trump said then that the deal would preserve '51% ownership by Americans,' although Nippon Steel has never backed off its stated intention of buying and controlling U.S. Steel as a wholly owned subsidiary. 'We have a golden share, which I control,' Trump said. Trump added that he was 'a little concerned' about what presidents other than him would do with their golden share, 'but that gives you total control.' The proposed merger had been under review by the Committee on Foreign Investment in the United States, or CFIUS, during the Trump and Biden administrations. The order signed Friday by Trump said the CFIUS review provided 'credible evidence' that Nippon Steel 'might take action that threatens to impair the national security of the United States,' but such risks might be 'adequately mitigated' by approving the proposed national security agreement. The order doesn't detail the perceived national security risk and only provides a timeline for the national security agreement. The White House declined to provide details on the terms of the agreement. The order said the draft agreement was submitted to U.S. Steel and Nippon Steel on Friday. The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction.
