The Semiconductor Giant Intel has announced it will set up dedicated capacity to make Computer Chips for the Car Industry at its existing foundry in ireland. Intel will invest up to 80 Billion euro in European Production over the next decade. Earlier this year, intels Chief Executive predicted the situation would get worse before it got better. Our correspondent Theo Leggett caught up Pat Gelsinger, who has been visiting the international Mobility Show in munich, and asked him if those fears had been borne out . Exactly as we predicted, the worst is the second half of the year, 03, 04. Next year it will get incrementally better each quarter but we think it will continue into 2023. It takes that long to get more capacity in place, just designs, rebuild Supply Change. It in place, just designs, rebuild Supply Change Supply Change. It is fair to sa it Supply Change. It is fair to say it will Supply Change. It is fair to say it will be Supply Change. It is fair to say it will be a Supply C
One of the worlds greatest footballers, lionel messi, is leaving barcelona after more than 20 years. The International Olympic Committee says its ordered two belarusian coaches to leave the Athletes Village to protect the rest of their team. Greece has been plunged into an unprecedented environmental crisis, according to the countrys Prime Minister. Days of heatwaves have turned the country into a Powder Keg and he predicts the worst is yet to come with strong westerly winds expected to fan the flames. As Mark Lobel reports, villagers are coming under pressure to abandon their homes, as villages like these burn, the greek Prime Minister is urging extreme caution. Houses can be rebuilt, he says, trees can regrow, however human life cannot be replaced. But abandoning your home is never easy in your 70s. Translation leave and go where, and let my house burn . If we had left, this place would have burned. We told the women and elderly and kids to go, and whoever was able stay to help, howe
We start in the us where President Biden has taken a step towards his goal of slashing us greenhouse emissions. How . Hes signed an Executive Order requiring half of all vehicles sold in the united states to be electric by 2030 a move backed by the top auto companies. He signed off and fired up an electricjeep. The biden administration is also proposing new, tougher emissions rules over the next few years. These would reverse former president trumps lowering of Fuel Economy standards. We have a playbook and its going to work. Today, im announcing steps were taking set a new pace for Electric Vehicles. First, following through on the Campaign Commitment to roll back the issues caused by the previous government, and i am doing so with the support of the auto industry, the automobile industry. The environmental Protection Agency and department of predation are Unveiling Proposals to do this. The agencies are beginning to work on the next round of standards for a broad class of vehicles, f
Lets start with a potential Game Changer from the eu, which is set to propose a raft of initiatives later today constituting the worlds most comprehensive set of Climate Legislation to reduce Greenhouse Gas emissions. The reforms, referred to as fit for 55 will lay out how the eu will reduce Greenhouse Gas emissions 55 per cent by 2030. The legislation will set out new rules for emissions trading, targets for Renewable Energy and emissions limits for transport and industry. A key proposal will involve Making Firms who do business with the Eu Pay for their Carbon Emissions. If the eu is to meet its goal of achieving net zero emissions by 2050, then every sector of the economy will need to undergo a profound transformation in the next three decades in order to reduce emissions. Joining me now is wendel trio, director of Climate Action Network europe. Good morning, a very warm welcome to the programme. What are we expecting from this legislation . We are expecting the commission to come
Lets get started. A potential fall out between Amazon And G7 Finance Ministers, which could leave the Tech Giant with a huge tax bill. According to the financial times, Finance Ministers plan to treat Amazons Cloud Computing divisIon as a separate entity to ensure the firm falls into the 10 profit Margin Threshold. Amazon didnt start making big profits until 2017, and has been consistently below the 10 Margin Threshold set by the g7. However, revenues at its Cloud Business grew by 30 last year to m5 billIon, which is much higher than all of amazons other divisIons. In the last hour new Quarantine RestrictIons have come into force for passengers returning to england from portugal. Joining me now is Swetha Ramachandran whos an Investment Manager at gam investments. Good morning to you. Just explain how the g7 is trying to get its clutches on taxes from amazon. ,. ,. , amazon. The historic proposal that the g7 amazon. The historic proposal that the g7 came amazon. The historic proposal th