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The Biden administration is considering granting automakers a temporary exemption from new regulations that would limit a consumer tax credit for electric vehicles containing certain materials from foreign adversaries, according to Democratic Senator Debbie Stabenow. The rules, included in President Biden's climate law, would disqualify vehicles using battery parts or minerals from China and other foreign adversaries from receiving the full $7,500 incentive. The Treasury Department is expected to release guidance this week defining which nations are considered foreign entities of concern and outlining the percentage of Chinese ownership that would exclude a supplier from receiving the tax credit. [Extracted from the article]

California semiconductor company, Akash Systems, has made the rare move of entering into labor agreements with local unions, which could increase its chances of receiving funds from the US government. The company plans to hire hundreds of employees exclusively from these unions, including production-line workers and construction workers for a new semiconductor facility. This move aligns with President Joe Biden's focus on supporting organized labor and could help Akash Systems secure funding from the Chips Act, which aims to bring semiconductor manufacturing back to the US. The Communications Workers of America and the Alameda County Building Trades Council are among the unions involved in the agreements. [Extracted from the article]

President Joe Biden is taking steps to limit China's progress in high-tech by restricting their access to advanced chips and promoting semiconductor production in the US. However, China is also focusing on an emerging area of technological competition: the packaging of semiconductors. Packaging is seen as a way for China to bridge the gap in capabilities and capture global market share. The US is now recognizing the importance of advanced packaging and plans to invest $3 billion in a National Advanced Packaging Manufacturing Program to reduce reliance on Asian supply lines. This shift in focus is seen as long overdue and necessary for the US to maintain leadership in semiconductor manufacturing. Advanced packaging allows for the combination and enhancement of chips, making it a pivotal solution for faster and cheaper computing systems. China already has a significant share of the assembly, testing, and packaging market, and is investing in advanced packaging facilities. The US is now realizing the importance of advanced packaging for high-power semiconductors used in artificial intelligence applications. The industry is shifting towards advanced packaging techniques as the limits of traditional chipmaking are reached. The US is seeking to prevent China from accessing advanced computing technologies, but advanced packaging remains a safe space for investment. The US is now focusing on building its own advanced packaging capacities to ensure a secure supply chain. The demand for advanced packaging technologies is expected to increase significantly, especially in high-performance chips for data centers, AI accelerators, and consumer electronics. The US is aiming to increase its packaging capacity to 10-15% of the [Extracted from the article]

The US Commerce Department has launched a $3 billion program to boost the domestic chip-packaging industry, which is seen as a crucial part of the semiconductor supply chain. The program is part of the 2022 Chips and Science Act, which aims to revive semiconductor production in the US and reduce dependence on Asia. The US currently has only 3% of the world's packaging capacity, compared to China's estimated 38%, which raises concerns about supply chain and national security risks. The program will include funding opportunities for packaging technologies and materials, as well as the establishment of an Advanced Packaging Piloting Facility and investments in workforce training. [Extracted from the article]

The US House of Representatives has passed a temporary government funding bill that reduces the risk of a government shutdown. The bill, proposed by newly elected Speaker Mike Johnson, received support from both Democrats and Republicans, although some Republicans opposed it. The legislation now moves to the Senate, where it is expected to be backed by majority Democrats. The bill funds certain government departments until January 19 and others until February 2, with the aim of encouraging negotiations on full-year spending bills. The bill does not include aid for Ukraine and Israel, which Senate leaders will need to address separately. [Extracted from the article]

The US House of Representatives has passed a temporary government funding bill that reduces the risk of a shutdown. The bill, proposed by newly elected Speaker Mike Johnson, received support from both Democrats and Republicans, although some members of Johnson's own party opposed it. The bill now goes to the Senate, where it is expected to be approved. It funds certain government departments until January 19 and others until February 2, with the aim of encouraging negotiations on spending bills. The bill does not include aid for Ukraine and Israel, which Democrats support. [Extracted from the article]

The US House of Representatives has passed a temporary government funding bill that reduces the risk of a shutdown. The bill, proposed by Republican Speaker Mike Johnson, received support from Democrats despite not including funding for Ukraine and Israel aid. The legislation will now go to the Senate, where it is expected to be approved. The bill funds certain government departments until January 19 and others until February 2, with the aim of encouraging negotiations on spending bills. The White House initially expressed opposition to the bill but has since softened its stance. [Extracted from the article]

Speaker Mike Johnson, a relatively unknown congressman from Louisiana, is facing a time crunch and lack of experience as he tries to prevent a government shutdown. He had planned to release a proposal for temporary government funding, but internal conflicts among Republicans may delay any spending plan. Johnson has a week before the shutdown deadline to make his move and decide how far he is willing to go to gain support from ultra-conservatives who ousted his predecessor. President Joe Biden expressed frustration with Johnson's slow pace and urged the House to get to work. The hardline House Freedom Caucus is demanding concessions from President Biden in exchange for a short-term reprieve from a shutdown. Johnson will need the support of almost all Republicans unless he can offer a bipartisan plan acceptable to Democrats. Divisions among Republicans over spending have hindered efforts to pass full-year spending measures. Johnson's struggles to pass GOP-only spending bills have led some to call his efforts futile, suggesting that engaging in immediate bipartisan talks with Democrats may be the best approach. Johnson is currently enjoying support from conservative rebels, but there are concerns that bucking them may lead to his ouster. Conservatives are proposing setting up separate shutdown deadlines for different government agencies, but this idea is met with skepticism from more traditional Republicans and appropriators. In the Senate, hopes of combining temporary funding with emergency aid for Israel and Ukraine are fading due to a dispute over border policies. It is likely that the Senate will only be able to pass short-term funding without additional conditions. Senators are trying to reach [Extracted from the article]

Speaker Mike Johnson, a relatively unknown congressman from Louisiana, is facing a time crunch and lack of experience as he tries to prevent a government shutdown in the US. He plans to release a proposal for temporary government funding, but his demands for spending cuts may provoke a standoff with the Democratic Senate. Johnson needs the support of almost all Republicans unless he can offer a bipartisan plan acceptable to Democrats. There are divisions within the GOP, with hardliners pushing for deep spending cuts and changes to asylum laws. Johnson's negotiating position with the Democratic-led Senate is weakened due to the lack of unity among House Republicans on federal spending issues. In the Senate, hopes of combining temporary funding with emergency aid for Israel and Ukraine are fading due to a dispute over border policies. Senators are trying to reach a compromise on new asylum rules and border policy changes, but an agreement is not expected before the November 18 shutdown deadline. [Extracted from the article]

The US has been trying for years to stifle China's semiconductor industry, most recently by tightening controls on exports of advanced chips and chipmaking equipment to the Asian superpower and adding two Chinese chip design firms to a trade restriction list. (Bloomberg) -- A bipartisan group of US lawmakers is calling on the Biden administration to limit China's access to a budding technology used to design semiconductor chips, which have become a key technological battleground between Washington and Beijing. [Extracted from the article]

About half of Senate Democrats joined Republicans on an amendment from Republican Jerry Moran that supports increased immigration enforcement at the U.S.-Mexico border. Keywords: 32663Z; ALLTOP; AUTOMOTIVE; BUSINESS; CMD; CONS; CONSD; COS; EXE; GEN; GENTOP; GLOBALMACR; GOV; INDUSTRIES; LAW; NORTHAM; NRG; POL; TOP; US; WORLD; WWTOP; WWTOPAM EN 32663Z ALLTOP AUTOMOTIVE BUSINESS CMD CONS CONSD COS EXE GEN GENTOP GLOBALMACR GOV INDUSTRIES LAW NORTHAM NRG POL TOP US WORLD WWTOP WWTOPAM The U.S. Senate is prepared to pursue President Joe Biden's plan to remake the economy, but an all-night voting session to approve the legislative vehicle to begin that process exposed some cracks in Democrats' no-room-for-error majority. [Extracted from the article]

Keywords: 0247409Z; ALLTOP; BUSINESS; COS; EXE; FIN; GEN; GOV; INDUSTRIES; LAW; NORTHAM; POL; REL; US; WORLD; WWTOP EN 0247409Z ALLTOP BUSINESS COS EXE FIN GEN GOV INDUSTRIES LAW NORTHAM POL REL US WORLD WWTOP The day before a moratorium on evictions is set to expire, President Joe Biden faces criticism from some of his allies for his hasty effort to preserve it -- and for not acting sooner to prevent what they view as an imminent housing crisis. White House aides have long been aware that the moratorium would expire on July 31. [Extracted from the article]

Keywords: ALLTOP; EXE; GEN; GENTOP; GOV; NORTHAM; TOP; US; WORLD; WWTOP; WWTOPAM EN ALLTOP EXE GEN GENTOP GOV NORTHAM TOP US WORLD WWTOP WWTOPAM House Speaker Nancy Pelosi's bid for a last-minute extension of an eviction moratorium for renters collapsed Friday, leaving millions of Americans at risk of losing their homes after the ban lifts on Saturday. QX2OTUT0AFB4 (Bloomberg) -- House Speaker Nancy Pelosi's bid for a last-minute extension of an eviction moratorium for renters collapsed Friday, leaving millions of Americans at risk of losing their homes after the ban lifts on Saturday. [Extracted from the article]

Keywords: ALLTOP; BUSINESS; COS; EXE; GEN; GOV; HEA; INDUSTRIES; NORTHAM; POL; US; WORLD; WWTOP EN ALLTOP BUSINESS COS EXE GEN GOV HEA INDUSTRIES NORTHAM POL US WORLD WWTOP House Speaker Nancy Pelosi sought to scrape together enough votes to extend a national moratorium on renter evictions before it expires Saturday, a move requested by President Joe Biden that Democrats say is desperately needed to keep families and children from the streets. QX2LC9T0G1KW (Bloomberg) -- House Speaker Nancy Pelosi sought to scrape together enough votes to extend a national moratorium on renter evictions before it expires Saturday, a move requested by President Joe Biden that Democrats say is desperately needed to keep families and children from the streets. [Extracted from the article]

Keywords: ALLTOP; EXE; GEN; GOV; NORTHAM; US; WORLD; WWTOP EN ALLTOP EXE GEN GOV NORTHAM US WORLD WWTOP Speaker Nancy Pelosi is laying the groundwork for a possible House vote to extend Saturday's expiration of a national moratorium on renter evictions, a move requested by President Joe Biden that Democrats say is desperately needed to keep families and children from the streets. Some moderate Democrats have opposed extending the moratorium, and Pelosi could only afford three defectors if all Republicans vote against the bill. But Republicans lashed out at the Biden administration and Democrats for waiting until the last minute. [Extracted from the article]

Some moderate Democrats have opposed extending the moratorium, and Pelosi could only afford three defectors if all Republicans vote against the bill. Keywords: EXE; GEN; GOV; NORTHAM; US; WORLD EN EXE GEN GOV NORTHAM US WORLD Speaker Nancy Pelosi is laying the groundwork for a possible House vote to extend Saturday's expiration of a national moratorium on renter evictions, a move requested by President Joe Biden that Democrats say is desperately needed to keep families and children from the streets. But Republicans lashed out at the Biden administration and Democrats for waiting until the last minute. [Extracted from the article]

Senate Democrats, in a framework outlining international tax proposals, suggested the global rate should be three-quarters of the domestic rate, which would put the global rate at 18.75% if the domestic rate is 25%. Keywords: ALLTOP; BUSINESS; ECOTOP; EXE; GEN; GOV; LAW; NORTHAM; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPEU EN ALLTOP BUSINESS ECOTOP EXE GEN GOV LAW NORTHAM TOP US WORLD WWTOP WWTOPAM WWTOPEU Treasury Secretary Janet Yellen will have to manage two separate sets of delicate negotiations this fall around a global corporate-tax accord, each with clashing deadlines that could threaten the ultimate success of the deal. [Extracted from the article]

The US and its European allies are worried that China could eventually dump those cheaper chips on the global market or use them as political leverage. (Bloomberg) -- The US and its allies should go further than barring Chinese access to advanced chipmaking gear and restrict older semiconductor technologies as well, a prominent think tank said in a new report. [Extracted from the article]

(Bloomberg) -- President Joe Biden designated 31 technology hubs in the US, part of an administration effort to draw private capital for science and technology manufacturing to more communities across the country. The tech hubs span not just semiconductors but also electric vehicles, critical minerals, biomanufacturing and clean energy - the key prongs of Biden's industrial policy. [Extracted from the article]

(Bloomberg) -- The Biden administration has designated 31 regions across the country as technology hubs, a stamp of approval that's meant to marshal private capital into core areas of federal investment. "I have heard from more members of Congress on tech hubs than anything else that I've done - it's unbelievable", Raimondo said before the House Science Committee in September, after a slew of representatives used their question periods to promote applications from their districts. [Extracted from the article]

(Bloomberg) -- Republican Jim Jordan is losing GOP support in his second attempt to be US speaker Wednesday, a key ally conceded, imperiling his candidacy. Jordan, a conserative known for his bombastic personality and insurgent tactics, lost far more Republican votes on the first ballot than the eight or 10 some GOP lawmakers projected. [Extracted from the article]

(Bloomberg) -- Nvidia Corp. suffered its worst stock decline in more than two months after the Biden administration stepped up efforts to keep advanced chips out of China, a campaign that includes restricting the company's sale of processors designed specifically for the Chinese market. The latest regulations, announced Tuesday, also limit exports to two Chinese artificial intelligence chip firms that are seen as rivals to US-based Nvidia. The administration will review company notifications within 25 days, the official said, to determine whether firms need a license to sell those chips to China. [Extracted from the article]

The administration will review company notifications within 25 days, the official said, to determine whether firms need a license to sell those chips to China. (Bloomberg) -- Nvidia Corp. suffered its worst stock decline in more than two months after the Biden administration stepped up efforts to keep advanced chips out of China, a campaign that includes restricting the company's sale of processors designed specifically for the Chinese market. [Extracted from the article]

The latest regulations, announced Tuesday, also limit exports to two Chinese artificial intelligence chip firms that are seen as rivals to US-based Nvidia. (Bloomberg) -- Nvidia Corp. suffered its worst stock decline in more than two months after the Biden administration stepped up efforts to keep advanced chips out of China, a campaign that includes restricting the company's sale of processors designed specifically for the Chinese market. [Extracted from the article]

(Bloomberg) -- The US is restricting the sale of chips that Nvidia Corp. designed specifically for the Chinese market and curbing exports to two Chinese artificial-intelligence chip firms, as part of sweeping updates to export controls that are designed to block China's access to highly advanced semiconductor technology. The Biden administration also added two Chinese AI chip startups and their subsidiaries to a trade restriction list that mandates companies to obtain a US government license before shipping to those firms. [Extracted from the article]

(Bloomberg) -- The US is restricting the sale of chips that Nvidia Corp. designed specifically for the Chinese market, part of sweeping new updates to export curbs that are designed to block China's access to highly advanced semiconductor technology. The tighter controls will target Nvidia's A800 and H800 chips, a senior US official said, which the American firm created for export to the Asian country after the Biden administration introduced its initial restrictions last October. [Extracted from the article]

The tighter controls will target Nvidia's A800 and H800 chips, a senior US official said, which the American firm created for export to the Asian country after the Biden administration introduced its initial restrictions last October. The administration will review company notifications within 25 days, the official said, to determine whether firms need a license to sell those chips to China. [Extracted from the article]

The Biden administration is tweaking the parameters which govern the export of those chips to China - a move that comes after Nvidia developed the China-specific model to work around last year's curbs. The US unveiled the original chip restrictions a year ago in an aggressive attempt to curtail China's technological development, a step the Biden administration argued is necessary for national security. (Bloomberg) -- The Biden administration is refining rules aimed at keeping advanced chips and manufacturing gear out of China, seeking to close loopholes that might help its geopolitical rival gain cutting-edge technologies. [Extracted from the article]

The US unveiled the original chip restrictions a year ago in an aggressive attempt to curtail China's technological development, a step the Biden administration argued is necessary for national security. The US also extended waivers for South Korea firms Samsung Electronics Co. and SK Hynix Inc., plus Taiwanese chip giant Taiwan Semiconductor Manufacturing Co., to continue shipping some restricted chipmaking technology to their facilities in China. [Extracted from the article]

The US also extended waivers for South Korea firms Samsung Electronics Co. and SK Hynix Inc., plus Taiwanese chip giant Taiwan Semiconductor Manufacturing Co., to continue shipping some restricted chipmaking technology to their facilities in China. The Biden administration seeks to strengthen controls on selling graphics chips for artificial intelligence applications and advanced chipmaking equipment to Chinese firms, the people said, asking not to be named because the rules aren't yet public. [Extracted from the article]

Armed Services Chairman Mike Rogers and Foreign Affairs Chairman Michael McCaul acknowledged Thursday that their party is unable to get 217 votes to elect a speaker solely on the backs of Republican support. Republicans can afford to lose only four votes if Democrats remain united behind Minority Leader Hakeem Jeffries. Read More: Trump, McCarthy Cast Doubt on Scalise's Struggling Speaker Bid Jeffries indicated that Democrats were willing to work with Republicans, but he did not specify what his party would demand in return. [Extracted from the article]

(Bloomberg) -- Republican Steve Scalise's chances of becoming US House speaker dwindled Thursday after former President Donald Trump and former Speaker Kevin McCarthy cast doubt on his bid. McCarthy, who has a long-running personal rivalry with Scalise, told reporters Thursday it's "possible" Scalise becomes speaker. [Extracted from the article]

McCarthy, who has a long-running personal rivalry with Scalise, told reporters Thursday it's "possible" Scalise becomes speaker. (Bloomberg) -- Former Speaker Kevin McCarthy cast significant doubt on whether his former No. 2, Majority Leader Steve Scalise, can pull off a win to become speaker as the Louisiana Republican remains far below the vote threshold required to take the House's top job. [Extracted from the article]

Even before the Hamas attack on Israel, a number of House Republicans had demanded that more support for Ukraine be paired with new funding for border enforcement. (Bloomberg) -- A group of US lawmakers proposed that the Biden administration pursue a joint aid package for Israel and Ukraine that would capitalize on broad bipartisan support for the Jewish state to overcome opposition from some Republicans to continued funding for Kyiv. [Extracted from the article]

In testimony to Congress on Sept. 19, Raimondo said the US has no evidence China can make the key components in the Huawei phones at scale. (Bloomberg Businessweek) -- By the standards of the gadget business, everything about Huawei's release of its Mate 60 Pro smartphone in late August was unusual. [Extracted from the article]

The clarification from Cassidy's office came after the senator told reporters that a meeting with Xi had been scheduled, which it has not. (Bloomberg) -- Louisiana Senator Bill Cassidy reiterated his colleague's hopes that a bipartisan delegation to China next week will meet with President Xi Jinping, his office said Wednesday evening, clarifying that a meeting is not yet scheduled. [Extracted from the article]

(Bloomberg) -- US Commerce Secretary Gina Raimondo said reports of a chip breakthrough by Huawei Technologies Co. are "incredibly disturbing" and emphasized that her department needs more ways to enforce its export-control regime. Raimondo Says Huawei Chip Shows Need for "Different Tools" Raimondo declined to comment on progress in the Commerce Department's probe into a new Huawei smartphone powered by an advanced 7-nanometer chip. [Extracted from the article]

Gaetz sought to topple McCarthy after he cut a deal with Democrats to avert a government shutdown. (Bloomberg) -- Florida Republican Matt Gaetz says he backs speakership bids by both Representatives Steve Scalise and Jim Jordan, emphasizing that the particular person is less important than their plan to reduce government spending. [Extracted from the article]

(Bloomberg) -- US Commerce Secretary Gina Raimondo said reports of a chip breakthrough by Huawei Technologies Co. are "incredibly disturbing" and emphasized that her department needs more ways to enforce its export-control regime. Raimondo Says Huawei Chips Case Shows US Needs "Different Tools" Raimondo said she was proud that earlier this year her department imposed the largest-ever fine in history on an American company for selling items to Huawei without a license. [Extracted from the article]

(Bloomberg) -- Kevin McCarthy's ouster as US House speaker plunged Congress into an internal power struggle as it faces key deadlines on avoiding a government shutdown and approving aid for Ukraine - all as the country hurtles toward a presidential election. The spending fight laid bare the deep divisions between Republicans who are loyal to former President Donald Trump and more moderate members, a battle that has plagued McCarthy as it did his Republican predecessor in the post, Paul Ryan. [Extracted from the article]

(Bloomberg) -- A bipartisan group of US senators hopes to meet President Xi Jinping in China next week, as a flurry of diplomacy bolsters expectations of a leaders meeting between the two superpowers. "The purpose is for us to engage with them, just like you've seen some of the senior administration officials, on the broad array of issues that we have", Crapo said in an interview, declining to comment on specific matters the senators will discuss. [Extracted from the article]

(Bloomberg) -- A bipartisan group of US senators hopes to meet with President Xi Jinping on a visit to China next week, Senator Mike Crapo said. Micron, headquartered in Boise, Idaho, is currently building a major chip-fabrication plant in upstate New York, making its business issues home-state concerns for both Crapo and Schumer, who represent those states. [Extracted from the article]

TSMC said in its statement that the company's "recordable safety incident rate is nearly 80% lower than nationally reported figures, and its lost-time incident rate is nearly 96% lower", citing safety data from the Arizona Division of Occupational Safety and Health, or ADOSH, and US Bureau of Labor Statistics. (Bloomberg) -- High-stakes labor showdowns are putting President Joe Biden's administration in between the companies central to his economic vision and the workers he's promised will reap the rewards of a US manufacturing renaissance. Those talks, the national pipe trades union said on Thursday, are set to "yield a win-win-win outcome" for the laborers, construction firms and TSMC. [Extracted from the article]

(Bloomberg) -- The Commerce Department has set aside $500 million in government grants for smaller companies in the semiconductor supply chain, as the US seeks to beef up domestic production of critical electronic components and reduce reliance on Asian production lines. The Chips Act includes $39 billion in direct company grants - not much more than one year's capital spending by a single major chipmaker - and $75 billion in loans and loan guarantees. There are significant differences in how awards will be made to big versus small firms: Smaller supply chain companies are eligible for grants but not loans, according to the senior official. [Extracted from the article]

The lawmakers' letter adds to a drumbeat from Republicans on Capitol Hill raising concerns about China's auto industry. (Bloomberg) -- Republican lawmakers accused a Chinese auto-parts maker of a "blatant" effort to evade US tariffs in the latest sign of rising pressure in Washington to limit China's growing presence in the car business. [Extracted from the article]

They say they are using their dealmaking skills to make government money go further - and avoid the expensive failures that have plagued Washington's previous efforts at giving taxpayer dollars to business. (Bloomberg) -- For years the titans of finance have argued Wall Street could spend money more efficiently than the government can. [Extracted from the article]

(Bloomberg) -- House Foreign Affairs Committee Chairman Michael McCaul says Congress needs to tighten restrictions on US firms' investment in China beyond those proposed by President Joe Biden earlier this summer, as recent breakthroughs in Chinese technology have spurred debate over the effectiveness of Washington's controls. The first is a House bill that would require the president to slap sanctions on companies involved in China's defense or surveillance efforts. [Extracted from the article]

Previously, the agency included a $100,000 spending cap on investments in advanced capacity in China, which would effectively prevent companies getting federal funding to grow output for chips more advanced than 28nm at all. (Bloomberg) -- The Biden administration announced final restrictions Friday on expansion in China by semiconductor companies that will receive federal funds to build plants in the US. [Extracted from the article]

The Chips Act allotted the Defense Department $2 billion across five years for its Microelectronics Commons Program, which aims to spur private investment in specific chip technology needed by the military. (Bloomberg) -- The Pentagon made its first major awards under the Chips Act, designating eight regional semiconductor technology hubs Wednesday in an effort to boost US production of the advanced electronics components used in military equipment. [Extracted from the article]

No Evidence That China Can Make Advanced Chips "at Scale", US Says (Bloomberg) -- Commerce Secretary Gina Raimondo said she was "upset" when China's Huawei Technologies Co. released a new phone with an advanced chip during her visit to the country last month but noted that the US has no evidence China can make those components "at scale." Huawei's new phone went on sale during Raimondo's visit to China for talks aimed at easing tensions. [Extracted from the article]