For tsmc and its teaming up with European Chipmakers infineon, bosch and nxp. It will be known as esmc with the eu firms each having a 10 Percent Stake and tsmc holding 70 percent. The eu has approved 5 Billion euros in german State Aid for the project. Ursula Von Der Leyen hAiled it as a Win Win for All Of Us heres our World Business Reporter david waddell. Three, two, one shovel heres the breaking Ground Ceremony in the german city of dresden for the worlds newest semiconductor plant, the European Semiconductor manufacturing company. But the worlds biggest chip company, tsmc, thats the tAiwan semiconductor manufacturing company, will have a 70 Majority Share in the new enterprise. The benefits to tsmc are clear. We choose dresden because of the reason, simple, is very close to our customers. And also we can access to many talented people. So we promise that we are going to continue to recruit and develop the talented people in this area. This is not tsmc s first foray onto foreign sh
Door blew off a 737 Max Jet shortly after takeoff in january. Michelle fleury tells us more. Boeing has grounded its entire Test Fleet of 777x jetliners. The decision was taken after a routine Postflight Inspection revealed damage to a crucial component that mounts the engine to the planes wings. Boeing said in a statement. It said it has informed its regulator, the federal aviation administration, as well as its customers. The 777x, boeings newest and largest aircraft, was due to go into service in 2020, but its been plagued by delays and cost overruns, and that date was pushed back to 2025. Now the discovery of a faulty Engine Part threatens to push the date back, well, even further. China has hit back a day after the eu published new additional rates to be paid for electic vehicles manufactured in china and then imported into the eu. As weve been reporting, china is furious about the new ev tarrifs. Calling them unfair competition. But the eu says the battery powered cars are heavil
A streak of sales declines. Price cuts led to more Customer Traffic in its shops. The Picture Wasnt so rosy at macys. The Department Store Chain reported another quarter of shrinking sales. Meanwhile, the owner of Tj Maxx posted another quarter of Sales Growth and raised its Profit Forecast for the year. To help make sense of it all, im joined by ryan dykmans, the chief Investment Officer of dunham associates investment counsel. Thank you forjoining us. What do these results tell us about us shoppers and their spending . Sure, so, the way we see the sales is that the consumer has been pretty resilient, despite Wage Growth barely keeping up with inflation, at best. We have seen the Consumer Spending and that has really kept the economy afloat for the most part. These sales we are seeing now, some of it is from discounting, we are seeing some of those improvements because the retailers have adapted and found ways to sell to these consumers who have been constrained and hopefully that is
Business im joined now the one in berlin have to you can join us one of the Worlds Largest container ships has turned sideways and locked all traffic in egypt was going out threatening to disrupt a Global Shipping system already strained by the coronavirus pandemic tugboats are trying to free the m. V. Every day event which sails under the flag of panama it was carrying cargo between asia and europe when it ran aground in the narrow waterway it wasnt immediately clear what caused the every given to turn sideways several tug boats have been trying to free the ship and open up the canal where 12 percent of world trade passes through. A short while ago i spoke to Lars Martin Greiner an associate partner at hamburg part consultancy a maritime Advisory Firm and asked asked him just how much of the hit to global trade the every given slice canal incident represents its the Major Trading route especially between europe and the end asia this is the key lifeline its where 80 percent of the carg
Determined determined to reengage with europe to consult with you earn back our position of trust and leadership achieving his these goals is going to depend on a core strategic proposition and that is the United States must renew americas enduring advantages so that we can meet todays challenges from a position of strength wealthy nations have pledged to pour more money into the uns credible as Vaccination Program kovacs which aims to inoculate poor countries the e. U. Has promised 1200000000. 00 while the u. S. Says it will put a 4000000000. 00 a un investigation has reportedly found that a problem alleyne of donald trump erik prince violated an arms embargo in libya the New York Times says its obtained the confidential report. One of the former u. S. President Donald Trumps most restrictive immigration policies as started to be dismantled until friday thousands of Asylum Seekers want to wait in mexico for their cases to be heard in the u. S. Now under the by the ministration up to 2