The Technology Authority

Senate passes $250 billion tech bill aimed to boost U.S. competition with China

A worker at the photolithography section of a semiconductor plant of the Mikron Group in Zelenograd, Moscow.

Anton Novoderezhkin | TASS | Getty Images

The Senate on Tuesday passed one of the largest industrial bills in U.S. history in a bipartisan effort to ensure the U.S. remains competitive with China as one of the globe’s technological powerhouses.

The bill, which passed the chamber 68-32, commits roughly $250 billion in funding for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation.

The scope of the bill, the final product of at least six Senate

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US Senate approves $50bn boost for computer chip and AI technology to counter China | US news

The US Senate has overwhelmingly approved a bill to boost American semiconductor production and the development of artificial intelligence and other technology in the face of growing international competition, most notably from China.

The 68-32 vote for the bill on Tuesday demonstrates how confronting China economically is an issue that unites both parties in Congress. It is a rare unifying issue in an era of division as pressure grows on Democrats to change Senate rules to push past Republican opposition and gridlock.

The centerpiece of the bill is a $50bn emergency allotment to the US commerce department to boost semiconductor

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Tencent, ByteDance and others ordered by China to curb financial busineses

In a statement Thursday, the People’s Bank of China said that it had summoned 13 companies, including Tencent (TCEHY), JD.com (JD), ByteDance, Meituan and Didi Chuxing, for talks that were also attended by the China Banking Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange.

The agenda included wide-ranging “problems that are common in the current financial business of internet companies,” according to the central bank.

The regulators laid out seven demands, starting with the requirement that “all financial activities be included in financial supervision, and financial businesses must … Read More

Vaccine makers say IP waiver could hand technology to China and Russia

Vaccine makers have warned US officials that temporarily scrapping patents for Covid-19 shots would risk handing novel technology to China and Russia, according to people familiar with the talks. 

As industry lobbying has escalated in Washington, companies have warned in private meetings with US trade and White House officials that giving up the intellectual property rights could allow China and Russia to exploit platforms such as mRNA, which could be used for other vaccines or even therapeutics for conditions such as cancer and heart problems in the future.

J&J, Pfizer, Moderna and Novavax did not respond to requests for comment. 

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The US produces just 12% of the world’s computer chip supply. Here’s why it’s trailing China when it comes to manufacturing and how it plans to get ahead.

President Joe Biden holds a semiconductor chip at the White House in Washington, U.S., February 24, 2021. Jonathan Ernst/Reuters

  • The US relies heavily on outsourcing chip-making since it’s cheaper and easier to go overseas.

  • The country’s reliance on foreign manufacturers is even more glaring amid the global chip shortage.

  • The solution, as President Biden has said, is to invest in domestic chip production.

  • See more stories on Insider’s business page.

A crushing computer chip shortage continues to choke the global supply chain.

Automakers are producing vehicles without smart technology – which requires chips – Apple’s MacBook and iPad production

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AUTOSHOW Nissan to focus on fuel-sipping technology and electric cars in China

Japan’s Nissan Motor Co (7201.T), which is racing to lift margins and curb costs amid slowing sales, showed off a redesigned version of its X-Trail model on Monday and announced a green car strategy for China at the Shanghai auto show.

The redesigned X-Trail sport-utility vehicle (SUV) was on display after a similar SUV called the Rogue hit the U.S. market last year. The new X-Trail will be available in China this year.

The new car is powered by a fuel-sipping three-cylinder, petrol-powered turbo engine.

One source said it might face an uphill battle finding buyers in China where similar

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