Trump refers to himself as a ‘war hero' when calling Netanyahu one
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Yahoo
17 minutes ago
- Yahoo
New Chip Deals Are Starting to Look More Sticks Than Carrots. What That Means for Chipmakers
Key Takeaways Commerce Secretary Howard Lutnick said the Trump administration is exploring how the U.S. could receive equity stakes in semiconductor companies with CHIPS Act grants. Such deals could extend to Micron, Taiwan Semiconductor, and Samsung, along with Intel. Though the Trump administration appears to have made inroads with embattled chipmaker Intel, Wall Street analysts suggested swaying others might require better terms. Chip stocks fell Wednesday, amid a broader decline in the tech sector. Wall Street could be starting to sour on the terms of new deals in the works for chipmakers. While investors first appeared sanguine about the White House's steps to become more involved in chipmakers' businesses in an effort to boost America's manufacturing capabilities, analysts' opinions have started to turn as more details about potential deal terms emerge. The PHLX Semiconductor Index (SOX) fell close to 1% Wednesday amid broader tech losses, extending declines yesterday. Intel (INTC), Micron Technology (MU), and Taiwan Semiconductor Manufacturing Company (TSM), were among the biggest decliners in the index—the latest companies to land in policy crosshairs. Commerce Secretary Howard Lutnick said in an interview with CNBC yesterday that along with Intel, the U.S. government could look to take equity stakes in other semiconductor firms in exchange for CHIPS Act funding. Those companies could include Micron, TSMC, and Samsung, according to Reuters. The White House did not immediately respond to an emailed query about the development, nor did Micron, TSMC, and Samsung. "We see this potential outcome as negative for the broader U.S. semi landscape and specifically bad for the companies that might be directly affected by this shift in policy," Wedbush analysts Matt Bryson and Antoine Legault wrote in a Wednesday report. The carrot could now appear to be more stick. Whereas the CHIPS Act, signed into law in 2022, incentivized chip production in the U.S. with funding, "changing these grants to ownership stakes effectively destroys this economic benefit," Wedbush said. "Not to mention, such a result would necessarily be unexpectedly dilutive to shareholders of the affected firms." Bernstein analysts in a note Tuesday similarly observed that Intel giving up 10% of the company for money that was supposed to be "free," albeit tied to some milestone-based requirements, "seems worse." Though the Trump administration appears to have made inroads with embattled chipmaker Intel, swaying others might require better terms. Relative to Intel's CHIPS awards, grants given to Micron, Samsung, and TSMC are relatively smaller as a percentage of market cap, or roughly 4% or less, according to Bernstein. "If presented with such a bargain however, we wonder how many of these companies might simply just say 'no.'" Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
17 minutes ago
- Washington Post
Microsoft reviewing Israeli military's use of its tech amid worker protests
REDMOND, Wash. — Worker-led protests erupted at Microsoft headquarters this week as the tech company promises an 'urgent' review of the Israeli military's use of its technology during the ongoing war in Gaza . A second day of protests at the Microsoft campus on Wednesday called for the tech giant to immediately cut its business ties with Israel .
New York Post
19 minutes ago
- New York Post
Trump's White House merch room thrust into spotlight after Zelensky pictured with ‘4 more years' hat
WASHINGTON — President Trump's photographed offer of a '4 More Years' hat to Ukrainian President Volodymyr Zelensky Monday cast a global focus onto one of his lesser-known White House remodels: turning a room off the Oval Office into a free-of-charge gift shop. The merch room was previously a private study — which also saw action as President Bill Clinton's love den with intern Monica Lewinsky. A treasure trove now awaits the president's biggest supporters and visiting heads of state. 'Some people leave with bags of stuff,' a source told The Post. 4 A behind-the-scenes photo of Trump showing Presidents Zelensky and Macron his merch room this week. Margo Martin/X Coveted souvenirs include Trump's golden 'Never Surrender' high-top sneakers, which launched last year for $399, and custom-made ties by Stefano Ricci, whose standard offerings retail starting at $330 at Neiman Marcus, sources said. Trump 'loves being generous' with visitors, said one person who has been to the room. 'Fellas, come on, grab what you want. It's OK,' Trump told aides to Azerbaijani President Ilham Aliyev following a peace deal signing with Armenia on Aug. 8. The room serves multiple functions, including playing to Trump's strengths as a host and fulfilling the branding and hospitality executive's desire for a lasting positive impression. It also serves as a polite way to end Oval Office encounters, turning potentially curt send-offs into a memorable moment. 4 President Trump shows Ukrainian President Volodymyr Zelensky to his White House merch room Monday. Daniel Torok/White House/UPI/Shutterstock Although a prior iteration existed during Trump's first presidency, this second-term upgrade features a broad inventory. A recent visitor recalled neat shelves of photobooks, candles, golf balls and tees, travel mugs, cufflinks, enameled boxes, small dishes and hand towels. Another source spotted Bibles autographed by the president. The West Wing room, reputedly used by former President Joe Biden to rest, also has special boxes of M&Ms that the candy maker Mars produces with the signatures of chief executives from both parties. Visitors generally receive a paper bag adorned with the presidential seal to stuff with keepsakes. 4 Trump presented Zelensky and other European leaders with symbolic keys to the White House, shown in wooden boxes on the Resolute Desk, ahead of the gift-room visit. Daniel Torok/White House/UPI/Shutterstock Trump has made substantial changes to the White House grounds since reclaiming power in January, adding dramatic golden refreshes for the Oval Office and Cabinet Room, enormous flagpoles to the lawns, a paved patio for the Rose Garden and fresh marble for the Palm Room linking the West Wing to the main White House. He plans to turn the East Wing into a ballroom. The relatively small gift room's diplomatic utility was on display this month when Aliyev visited — as Trump asserted US leadership in a conflict between two nations historically in Russia's sphere of influence. Trump picked out a scarf for Aliyev's wife, handing it to the strongman, and instructed aides to make sure that a symbolic 'Key to the White House' that he personally designed was put into Aliyev's swag bag, as the guest thanked him for the gifts. Trump showed Aliyev, who does not have free elections, a 'Trump 2028' hat, telling this counterpart, 'You know, you're not allowed to run [for a third term]. I'm 28 points higher than anybody. Everyone wants me to run.' 'Including us!' added Aliyev, who inherited his position from his father. 'This drives them crazy,' Trump said, turning slightly to point out the same hat he showed Zelensky. 'Look, '4 More Years.' They go, '4 More Years!' So it's sorta cool.' 4 Trump previously took Azerbaijani President Ilham Aliyev to the room and picked out a scarf for his wife. Getty Images Stacks of red 'Make America Great Again' hats are also available, as are newer versions that say 'Gulf of America' and 'Trump Was Right About Everything.' French President Emmanuel Macron, who joined Zelensky in the room, clutched his recently received 'Key to the White House,' contained in a wooden display box that had moments earlier been on the Oval Office's Resolute Desk. What, if anything, Zelensky chose to take was unclear to The Post's sources, but he also left the White House with a revived relationship with Trump and pledges for US and European backing for 'security guarantees' against further Russian invasions if peace is achieved.
