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New York Times
2 minutes ago
- New York Times
Trump Attack on Intel's C.E.O. Could Compound Factory Struggles
At the end of July, Gov. Mike DeWine of Ohio said Intel's chief executive was 'very, very optimistic' about the company's plans to build multibillion-dollar semiconductor factories in his state. This week, President Trump attacked the tech executive, and a Republican senator called for an investigation into delays surrounding Intel's massive construction project outside Columbus. Mr. Trump demanded on Thursday that Lip-Bu Tan, Intel's new chief executive, resign over his past ties to Chinese companies, adding to the woes of a company that Mr. DeWine and other senior figures in Ohio's Republican Party had said would help create a manufacturing boom and turn the state into a 'Silicon Heartland.' To help build its factories, Intel received commitments worth roughly $1.5 billion in federal funding in recent years, as well as a $2 billion incentive package from Ohio. The project has been badly delayed, and the chip maker said this year that the factories would not be operational until at least 2030. The company's challenges in Ohio highlight the risks that federal and state officials took when they financially backed Intel, a once-powerful force in chip manufacturing, an industry now dominated by the Taiwan Semiconductor Manufacturing Company. Intel's situation is also indicative of the struggles the Trump administration will face as it tries — through the pressure of tariffs and threats from the White House — to shift the bulk of semiconductor production to the United States from Asia. When the Biden administration offered financial incentives through the CHIPS Act, Intel was one of the few American companies that it made sense to back. Want all of The Times? Subscribe.
Bloomberg
2 minutes ago
- Bloomberg
President Trump Confirms Meeting With Putin
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Cato Institute's General Economics Vice President Scott Lincicome shares his thoughts on the reaction to potential tariffs from the Trump administration on gold. James Jeffrey, Former US Ambassador to Iraq & Turkey, talks about President Trump confirming that he will meet with Russian President Vladimir Putin to talk about ending the war in Ukraine. Florida Democratic Congresswoman Debbie Wasserman Schultz discusses the Florida GOP's plan to potentially redraw congressional maps in the state. (Source: Bloomberg)
Bloomberg
2 minutes ago
- Bloomberg
Trump-Linked World Liberty Pitches a $1.5 Billion Crypto Vehicle
Big investors are being sounded out on a plan for World Liberty Financial, the Trump family-backed venture, to set up a public company that would hold its WLFI tokens, joining the boom in digital-asset treasury firms. The structure of the deal is still being finalized, according to people familiar with the matter, who asked not to be named because the talks are private. The fundraising target is expected to be around $1.5 billion, they added. Big-money investors in the technology and crypto industries have been approached for the venture, according to the people. Discussions are said to be advancing rapidly.
