MNI BRIEF: US Labor Costs Increase 0.9%, Below Expectations

MNI BRIEF: ADP's Richardson Sees Normalizing US Labor Market

CANADA FLASH Q2 GDP ANNUALIZED +2.2%

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

VdL: Chips Act Intended To Tackle Bottlenecks, Not Cut Off EU

EU COMMISSION

European Commission President Ursula von der Leyen has just finished speaking on plans for the EU Chips Act. The act is intended to boost EU production of microchips and semiconductors, and has a similar aim of the US Competes Act, recently passed by the US House of Representatives.

  • "European Chip Act will enable EUR15bn in additional public and private investments by 2030. This is on top of EUR30bn of ongoing public investments."
  • "We have a very clear target: by 2030, 20% of the world's microchips should be produced in Europe."
  • No country or continent can be entirely self-sufficient....we will always work to keep supply chains open....what we need to tackle are bottlenecks....will work with like-minded partners on chips such as US or Japan."
  • The pandemic has shown the risk to Western nations of supply-chain crunches. Moreover, EU and US increasingly wary of having crucial high-tech components produced in China or in Taiwan.
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.