Morning Business Report: Taiwan unveils plans for a $100 billion investment in U.S
The initiative includes the construction of new factories in Arizona, creating 3,000 jobs and boosting the country’s semiconductor manufacturing capabilities.
(LILAMAX)- Taiwan Semiconductor Manufacturing Company (TSMC) has unveiled plans for a $100 billion investment in U.S. computer chip production. The initiative includes the construction of new factories in Arizona, creating 3,000 jobs and boosting the country’s semiconductor manufacturing capabilities.
Cryptocurrency prices surged Monday following President Donald Trump’s announcement of a Digital Reserve Fund. The White House is working toward a “Crypto Strategic Reserve,” which will include Bitcoin and other lesser-known cryptocurrencies.
However, Bitcoin’s gains were short-lived as the S&P 500 posted its largest loss of the year, driven by concerns over new tariffs.
Markets took a hit as Trump’s tariff deadline went into effect at midnight, impacting trade with Canada, China, and Mexico. The President pledged 25% duties on Canadian and Mexican imports following a 30-day pause and announced a second round of 10% tariffs on Chinese imports, bringing the total to 20%.
- Dow Jones: Down 660 points
- S&P 500: Lost 104 points
- Nasdaq: Closed down 497 points
Rodney McMullen, CEO of America’s largest grocery chain, Kroger, has been removed from his position due to what the company called “unacceptable personal conduct.” While details remain undisclosed, the company confirmed the incident was unrelated to business operations but inconsistent with its code of ethics.
General Motors has hired its first-ever Artificial Intelligence Officer. Barak Turovsky, former head of AI at Cisco, will focus on integrating autonomous driving technology across GM’s vehicle lineup, signaling the company’s deepening commitment to AI-driven innovation.
