: Sunday, May 16, 2021, 8:06 PM IST
Sales of AC, other cooling products again hit by pandemic in peak season; cos now pin hopes on extended summer
Leading players in the segment including Voltas, Daikin, Blue Star, Panasonic and Haier reported almost 75 per cent dip in April sales this year when compared with the same month of 2019 performance. Moreover, May 2021 has been a complete washout so far for them.
Pixabay
For the second consecutive year, sales of air conditioners (ACs) and refrigerators have been hit during the peak season of April and May due to the localised lockdowns and restrictions on account of surging Covid cases in the country.
Chipmakers and big tech push for $50B funding for semiconductor R&D
SHARE
Computer chip makers and some of their biggest customers joined forces today in an attempt to pressure the U.S. government to commit tens of billion dollars in funding toward semiconductor manufacturing and research.
The Semiconductors in America Coalition’s members include international chipmakers such as Intel Corp., Advanced Micro Devices Inc., Qualcomm Inc., Taiwan Semiconductor Manufacturing Co. Ltd., Samsung Electronics Ltd., Nvidia Corp. and Nvidia Corp., as well as big tech firms such as Amazon Web Services Inc.,, Google LLC, Microsoft Corp. and Apple Inc.
The group said today it is throwing its weight behind the CHIPS for America Act that was introduced in June 2020, with an aim to “appropriate $50 billion for domestic chip manufacturing incentives and research initiatives.” The CHIPS for America Act has been approved by the House and the Senate as part of the Nation
Semiconductor companies and big businesses that use chips have formed a coalition to push for tens of billions of dollars in federal funding for semiconductor research and manufacturing in the United States.
The new group, the Semiconductors in America Coalition, announced its formation on Tuesday amid a global semiconductor shortage that has caused disruptions throughout the economy. Its members include chip makers like Intel, Nvidia and Qualcomm and companies that rely on semiconductors, like Amazon Web Services, Apple, AT&T, Google, Microsoft and Verizon.
The coalition is calling on Congress to provide $50 billion for semiconductor research and manufacturing, which President Biden has proposed as part of his $2.3 trillion infrastructure package. “Leaders from a broad range of critical sectors of the U.S. economy, as well as a large and bipartisan group of policymakers in Washington, recognize the essential role of semiconductors in America’s current and future strength,” s
Semiconductor makers and users form a group to push for chip funding.
President Biden has called for $50 billion to encourage domestic semiconductor production as part of his infrastructure plan.Credit.Doug Mills/The New York Times
May 11, 2021
Semiconductor companies and big businesses that use chips have formed a coalition to push for tens of billions of dollars in federal funding for semiconductor research and manufacturing in the United States.
The new group, the Semiconductors in America Coalition, announced its formation on Tuesday amid a global semiconductor shortage that has caused disruptions throughout the economy. Its members include chip makers like Intel, Nvidia and Qualcomm and companies that rely on semiconductors, like Amazon Web Services, Apple, AT&T, Google, Microsoft and Verizon.
Stocks Tumble as Inflation Concerns Resurface
Last Updated
This briefing has ended. Follow our latest coverage of
Here’s what you need to know:
Source: FactSet
By: Ella Koeze
Stocks fell around the world on Tuesday as traders remained unsettled by rising prices and the impact that could have on inflation.
But a rebound in technology stocks in afternoon trading softened the blow on Wall Street somewhat. The S&P 500 fell 0.9 percent, after having recovered from a decline of as much as 1.6 percent earlier. The tech-heavy Nasdaq ended the day only slightly lower, also having recovered from a sharp drop.