EU plans 'Chips Act' to boost domestic semiconductor manufacturing
According to economists, Europe needs to pass a microchip act for further development. This would allow it to catch up with the world's developers and manufacturers of these products. The European Commission is planning to propose the draft.
The issue was raised by the agency's president Ursula von der Leyen on September 15. The initiative is expected to be key to the region's sovereignty. It should be noted that the European economic recovery is being hampered by a shortage of semiconductors. Recently, it has become a true challenge for consumer electronics companies and car manufacturers. Experts emphasize that the current problems are reflected in falling wages in these sectors. At the same time, a significant drop in sales is recorded.
The European Chips Act covers three dimensions, including a European Semiconductor Research Strategy, a collective plan to enhance the European production capacity, and development of the international cooperation and partnership.
Earlier, Von der Leyen said the EU should break its dependency on microprocessors manufactured in Asia. The head of the European Commission stressed that the aim was to jointly create a state-of-the-art European chip ecosystem, including production. According to European leaders, although the initiative involves considerable investments and numerous difficulties, the goal is worth it.
SEC not intend to ban cryptocurrencies
After recent harsh statements made by Gary Gensler, Chairman of the SEC, market participants were worried that the US could follow China’s warpath on the crypto market. Gary Gensler rushed to dispel fears saying that the US would not take such tough measures and prohibit digital assets.Notably, such fears were quite reasonable. Gary Gensler is widely known as a vocal opponent of virtual assets.
14:54 2021-10-15 UTC+00
ETH may outperform BTC in near future
In a complicated and unpredictable battle between bitcoin and ether, the latter one has taken the lead. Evaluating prospects of ETH growth, more and more analysts admit that it may outperform bitcoin in just several years. The fact is that ether’s outlook looks more convincing.
14:51 2021-10-15 UTC+00
India to become one of world’s fastest-growing crypto markets
India may well become the world’s biggest cryptocurrency market. It has already made some serious steps, while the ban on virtual assets in other countries, China in particular, only makes things easier. India’s crypto market capitalization soared by 641% in 12 months. This makes the country the fastest-growing crypto market in Central and South Asia and Oceania as well as in the world.
14:50 2021-10-15 UTC+00
Pandora Papers unmask UK’s tax haven
The Pandora Papers, the largest investigation in journalism history on corruption and offshores, exposed world leaders, influential businessmen, and celebrities using offshore schemes estimated at billions of dollars. The reputation of several people and countries has suffered.The British public is urging the government to protect the country from dirty money.
11:53 2021-10-15 UTC+00
UK and EU may enter “Cold mistrust” era
Since the UK’s withdrawal from the European Union, relations between the two parties have been souring. British authorities threaten their former partner with an even poorer relationship.Such unexpected announcements were caused by the dispute over trading arrangements governing Northern Ireland.
11:51 2021-10-15 UTC+00
Biden's spending bill called harmful to US values
Representatives of the US Republican Party have criticized President Joe Biden's grandiose economic plan. According to them, the idea of a "welfare state", on which the plan is based, contradicts American values.Opponents of Build Back Better believe that subsidies to low-income groups undermine the national idea that work and welfare are inextricably linked.
11:49 2021-10-15 UTC+00