Connect with us

World

Brussels approves €8 billion in subsidies for EU-made microchips

Published

on

Brussels approves €8 billion in subsidies for EU-made microchips

The European Union is hoping to boost domestic production of semiconductors and capture 20% of the global market by 2030.

A new raft of European subsidies for microchips is on its way.

The European Commission approved on Thursday a tranche of €8.1 billion in state aid for the production of Made in Europe semiconductors.

56 companies of different sizes will tap into the financial pot to carry out 68 projects across 14 member states: Austria, the Czech Republic, Finland, France, Germany, Greece, Ireland, Italy, Malta, the Netherlands, Poland, Romania, Slovakia and Spain.

The Commission hopes the public money will bring €13.7 billion in private investments and thus mobilise a total of almost €22 billion between now and 2032, the date by which all projects are expected to reach the final stage.

Advertisement

The first products, however, could be available in the market as soon as 2025.

“This is a big thing. It’s a lot of funding that goes into these projects,” said Margrethe Vestager, the European Commission’s executive vice-president in charge of competition.

The projects will focus on the research and development of “resource-efficient technologies” like chips, processors and sensors, Vestager explained.

The approval was made under the framework of so-called “Important Projects of Common European Interest” (IPCEI), a type of undertaking that is supposed to benefit not only the countries that inject the aid but the entire European economy.

Because of this expected spill-over effect, IPCEIs enjoy easier access to taxpayers’ money.

Advertisement

As the main enforcer of competition rules, the European Commission has the mandate to examine and approve any subsidy that threatens to upset the economic balance between member states and trigger an unfair race.

The state-aid rulebook has been traditionally strict, angering larger countries with big pockets. But the increasingly fierce race for microchips, the tiny electronic circuits that power smartphones, computers, vehicles and daily appliances, has pushed Brussels to adopt a more lenient approach, carving exemptions to enable injections of public funds at a faster pace and larger scale.

The ultimate goal is to boost the production of Made In Europe microchips and achieve a 20% share of the global market by 2030, which, in theory, would ensure the bloc’s long-term competitiveness and sovereignty.

“We must increase Europe’s own chips research, development (and) production capabilities,” Vestager said. “We need to be pioneers. We need to develop truly innovative solutions and, of course, their first industrial deployment in Europe.”

The ambition, however, faces an uphill struggle against the technological prowess of China, Japan, South Korea and, most crucially, Taiwan, which dominates the market of advanced semiconductors in a nearly monopolistic manner.

Advertisement

The United States, which, like the EU, has found itself lagging behind Southeast Asia, has too become more forceful in its policies. Last year the country adopted the CHIPS and Science Act, which includes $39 billion in incentives for manufacturing and $13.2 billion in research and development.

Brussels is in the meantime wrapping up the legislation behind the European Chips Act, a three-pillar proposal that aims to mobile over €43 billion in public and private investments, with €3.3 billion coming straight from the EU budget.

The IPCEI is a separate instrument and the money raised under the state-aid scheme will not count towards the European Chips Act.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World

Beyoncé NFL Halftime Show Will Be Available to Rewatch on Netflix as a Stand-Alone Special

Published

on

Beyoncé NFL Halftime Show Will Be Available to Rewatch on Netflix as a Stand-Alone Special

UPDATE, 12/25, 4:30 p.m. PT: Netflix said it will provide on-demand access to the full halftime performance of “Beyoncé Bowl” as a stand-alone special “later this week.” The 20-minute spectacle — her first live TV performance in four years — featured Post Malone, Shaboozey and her daughter Blue Ivy Carter to debut tracks from “Cowboy Carter” for the first time in a live setting.

EARLIER:

Beyoncé will light up the Houston night on Christmas with a halftime performance during the Ravens-Texans game on Netflix. To watch it, you’ll have to tune in live on Dec. 25 — otherwise, you’ll have only a few hours to catch the replay on Netflix.

Queen Bey’s Xmas performance will feature her first live performances of songs from “Cowboy Carter.” She’ll take the stage in her hometown during halftime of the Baltimore Ravens-Houston Texans matchup at NRG Stadium in Houston.

Netflix, as part of its accelerating push into live sports, snagged global rights to the NFL’s two Christmas Day 2024 games: the Kansas City Chiefs at the Pittsburgh Steelers (starting at 1 p.m. ET), followed by the Ravens-Texans game (4:30 p.m. ET).

Advertisement

Under Netflix’s agreement with the NFL, in the U.S., the two Christmas games expire three hours after the livestream ends (meaning Beyoncé’s performance and the Ravens-Texans game will no longer be available to rewatch on Netflix as of around 11 p.m. ET). Outside the U.S., the games expire on Netflix 24 hours after the livestream ends. The NFL livestreams will include ad breaks, even for Netflix subscribers on no-ads plans.

Few details are available for Beyoncé’s Christmas halftime show, but according to Netflix she is expected to bring along some “special guests” who are featured on “Cowboy Carter.” She’s a veteran of two Super Bowls: Beyoncé was the halftime performer for the 2013 game in New Orleans, which featured a Destiny’s Child reunion; and in 2016, she sang “Formation” when Coldplay was the headliner act.

On Christmas Day, Netflix’s pregame coverage will kick off at 11 a.m. ET, from NFL Network’s studios in L.A. and Acrisure Stadium in Pittsburgh. The streamer has tapped Mariah Carey to deliver a recorded performance of her record-breaking holiday hit “All I Want for Christmas Is You” before both of the day’s two games.

If you missed the window for Netflix’s NFL livestreams, you still have the chance to catch the reruns. As it stands right now, NFL Network is scheduled to re-air Ravens-Texans on Wednesday, Dec. 25, at 11:30 p.m. ET and Thursday, Dec. 26, at 5 a.m. ET. The channel will re-air Chiefs-Steelers on Dec. 25 at 8:30 p.m. ET and Dec. 26 at 2 a.m. ET. There is the possibility for additional re-airs but portions of the NFL Network’s programming schedule are still being determined. In addition, replays of both games will be available with NFL+ Premium ($14.99/month) in the U.S. and via DAZN internationally.

Note also that the two Netflix Christmas Day games will air on broadcast TV in the competing teams’ local markets and will be available live on U.S. mobile devices with an NFL+ subscription.

Advertisement
Continue Reading

World

Zelenskyy lambastes Putin over Christmas strikes: 'What could be more inhumane?'

Published

on

Zelenskyy lambastes Putin over Christmas strikes: 'What could be more inhumane?'

Ukrainian President Volodymyr Zelenskyy excoriated Russian President Vladimir Putin on Wednesday for launching attacks against energy infrastructure on Christmas Day.

Zelenskyy suggested the attacks were “inhumane,” but said they would not ruin Christmas.

“Today, Putin deliberately chose Christmas for an attack. What could be more inhumane? Over 70 missiles, including ballistic ones, and more than a hundred attack drones. The targets are our energy infrastructure. They continue to fight for a blackout in Ukraine,” he declared in a post on X.

The Russian Defence Ministry acknowledged a “massive strike” on its part, saying it hit energy facilities that supported Ukraine’s “military-industrial complex,” Reuters reported.

“The aim of the strike was achieved. All facilities have been hit,” the ministry said.

Advertisement

RUSSIA BATTERS UKRAINE POWER GRID AMID RISING CONCERN PUTIN COULD ORDER BALLISTIC MISSILE ATTACK THIS WEEKEND

Ukrainian President Volodymyr Zelenskyy talks with the media during the European Council Meeting in Brussels on Thursday. (Pier Marco Tacca/Getty Images)

Strikes against Ukrainian fuel and energy sources involved 78 air, ground and sea-launched missiles, in addition to 106 Shaheds and other kinds of drones, Ukraine’s air force claimed, according to The Associated Press.

“Unfortunately, there have been hits. As of now, there are power outages in several regions. Power engineers are working to restore power supply as soon as possible,” Zelenskyy noted. 

Still, the Ukrainian leader declared that “Russian evil will not break Ukraine and will not spoil Christmas.”

Advertisement

US CITIZEN IMPRISONED IN RUSSIA GIVEN NEW 15-YEAR SENTENCE IN WAKE OF ESPIONAGE CONVICTION

Russian President Vladimir Putin

Russian President Vladimir Putin holds his annual end-of-year press conference in Moscow on Thursday. (Alexander Nemenov/AFP via Getty Images)

The U.S. has provided billions of dollars’ worth of aid to help Ukraine fight the Russian onslaught that erupted in 2022, but Americans and their congressional representatives have been divided regarding whether the U.S. should continue supplying aid to Ukraine.

President-elect Trump, who will take office on Jan. 20, has called for a cease-fire and negotiations.

TRUMP MEETS WITH MACRON, ZELENSKYY AHEAD OF NOTRE DAME REOPENING CEREMONY IN PARIS

President-elect Trump

President-elect Trump looks on during Turning Point USA’s AmericaFest at the Phoenix Convention Center in Phoenix on Sunday.  (Rebecca Noble/Getty Images)

CLICK TO GET THE FOX NEWS APP

Advertisement

In a post on Truth Social this month, Trump declared that “Zelenskyy and Ukraine would like to make a deal and stop the madness. They have ridiculously lost 400,000 soldiers, and many more civilians. There should be an immediate ceasefire and negotiations should begin.”

The Associated Press and Reuters contributed to this report.

Advertisement
Continue Reading

World

Five journalists killed in Israeli strike near Gaza hospital

Published

on

Five journalists killed in Israeli strike near Gaza hospital

Journalists from Al-Quds Today were covering events at al-Awda Hospital when their vehicle was struck.

Five journalists have been killed in an Israeli strike in the vicinity of a hospital in central Gaza, according to Palestinian authorities and media reports.

The journalists from the Al-Quds Today channel were covering events near al-Awda Hospital, located in the Nuseirat refugee camp, when their broadcasting van was hit by an Israeli air strike, Al Jazeera’s Anas al-Sharif reported early on Thursday morning.

Footage from the scene circulating on social media shows a vehicle engulfed in flames.

A screenshot taken from a video of the white-coloured van shows the word “press” in large red lettering across the back of the vehicle.

Advertisement

The deceased journalists have been named as Fadi Hassouna, Ibrahim al-Sheikh Ali, Mohammed al-Ladah, Faisal Abu al-Qumsan and Ayman al-Jadi.

Al Jazeera’s Anas al-Sharif said that Ayman al-Jadi had been waiting for his wife in front of the hospital while she was in labour to give birth to their first child.

Civil defence teams retrieved the bodies of the victims and extinguished a fire at the scene, the Quds News Network said.

There was no immediate comment from Israeli authorities.

Advertisement

The Committee to Protect Journalists (CPJ) earlier this month condemned Israel’s killing of four Palestinian journalists in the space of a week, calling on the international community to hold the country accountable for its attacks against the media.

At least 141 journalists have been killed in Israel’s war in Gaza since October 7, 2023, according to the CPJ.

Continue Reading
Advertisement

Trending