EuropeEXCLUSIVE Bundesbank expects chip bottlenecks in German industry to worsen in Q2
Michael Nienaber
3 minute read
The Berlin skyline is seen, during the spread of coronavirus disease (COVID-19) in Berlin, Germany, April 1, 2020. REUTERS/Michele Tantussi
The chip supply bottlenecks in German industry will likely worsen in the second quarter and lead to an overall weaker recovery of Europe s largest economy this year, the Bundesbank s chief economist told Reuters on Friday.
Shortages of semiconductors and other industrial components have led to production cuts in manufacturing, forcing executives and policymakers to rethink supply lines and try to reduce reliance on a handful of Asian and U.S. suppliers. read more
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TechnologyIntel seeks $10 bln in subsidies for European chip plant
ReutersDouglas Busvine
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An Intel Tiger Lake chip is displayed at an Intel news conference during the 2020 CES in Las Vegas, Nevada, U.S. January 6, 2020. REUTERS/Steve Marcus
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Intel (INTC.O) wants 8 billion euros ($9.7 billion) in public subsidies towards building a semiconductor factory in Europe, its CEO was cited as saying on Friday, as the region seeks to reduce its reliance on imports amid a shortage of supplies.
The pitch is the first time Pat Gelsinger has publicly put a figure on how much state aid he would want, as Intel pursues a multibillion-dollar drive to take on Asian rivals in contract manufacturing.