Commerce Secretary Howard Lutnick says Donald Trump won’t let Elon Musk slide for the way the billionaire left his government position. Lutnick’s take on Trump’s spectacularly messy public divorce from from ex-bestie Musk came during a sit down with NewsNation host Batya Ungar-Sargon on Friday. Lutnick said that while the pair may find a way…
Intel no longer has to fulfill certain requirements or meet milestones that it was originally supposed to under the CHIPS Act, now that the government is taking a stake in the company. According to the Wall Street Journal, Intel said in a filing that it can now receive funding from the government, as long as…
By Nandita Bose and Max A. Cherney WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said. Expanding on a plan to receive an equity stake in Intel in exchange for…
(Reuters) -New orders for U.S.-manufactured goods fell in June as commercial aircraft orders plunged, reversing the surge in plane orders that had driven the overall upswing in orders in the prior month. Factory orders tumbled 4.8% after an upwardly revised 8.3% increase in May, the Commerce Department’s Census Bureau said on Monday. Economists polled by…
By Karen Freifeld (Reuters) -Cadence Design agreed to plead guilty and pay more than $140 million to resolve U.S. charges for selling its chip design products to a Chinese military university believed to be involved in simulating nuclear explosions, the Justice Department said on Monday. Cadence was accused of violating export controls by illegally selling…
(Reuters) -The U.S. has paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support President Donald Trump‘s efforts to secure a meeting with President Xi Jinping this year, the Financial Times said on Monday. The industry and security bureau of the Commerce Department, which oversees export controls, has been…
[Source] China has blocked at least two Americans — a Commerce Department employee and a Wells Fargo banker — from leaving the country in recent weeks, according to reports. Who’s stuck The Commerce Department employee, who works under the Patent and Trademark Office, has been barred from leaving China for months after reportedly failing to…
WASHINGTON (Reuters) -Sales of new U.S. single-family homes increased less than expected in June amid higher mortgage rates, pushing inventory to levels last seen in late 2007, which could keep homebuilding subdued. New home sale units rose 0.6% to a seasonally adjusted annualized rate of 627,000 units last month, the Commerce Department’s Census Bureau said…
By Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder…
By Raphael Satter WASHINGTON (Reuters) -American officials have quietly been grading Chinese artificial intelligence programs on their ability to mold their output to the Chinese Communist Party’s official line, according to a memo reviewed by Reuters. U.S. State and Commerce Department officials are working together on the effort, which operates by feeding the programs standardized…