A comprehensive bill to boost American science and technology to compete with China’s growing economic power and global influence, particularly regarding semiconductors capacity, has been stalled in the House of Representatives, after being passed by the Senate in June. As a result, proponents are looking for alternatives to turn it into legislation. The U.S. Innovation…
Bi-partisan Tech Bill to Protect US Interests Stalls in the House
November 20, 2021
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Nasdaq Ends Atop 16,000 Mark for the First Time on Tech Strength
November 20, 2021
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The Nasdaq Composite Index closed above 16,000 points for the first time on Friday, in its second-straight record finish powered by technology stocks, while pandemic jitters sent the Dow to its fourth losing session in the last five. Both the Nasdaq and S&P 500 index scored a winning week, up 1.2 percent and 0.3 percent…
Global Shares Mixed After US Stocks Fall Back
November 18, 2021
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TOKYO—Global shares were mixed Thursday after stock indexes shuffled lower on Wall Street. France’s CAC 40 edged up nearly 0.2 percent in early trading to 7,167.47. Germany’s DAX gained 0.2 percent to 16,275.17. Britain’s FTSE 100 fell 0.2 percent to 7,277.41. The future for the Dow industrials was trading 0.2 percent higher, while the future…
US Plans to Invest Billions in Manufacturing COVID-19 Vaccine
WASHINGTON—The United States plans to invest billions of dollars in expanding COVID-19 vaccine manufacturing capacity and make available an additional one billion doses per year, White House COVID-19 coordinator Jeff Zients said on Wednesday. Zients said the government was preparing to offer makers of the mRNA vaccines substantial help to expand infrastructure and capacity, including…
Bullard Says Fed Should Tack ‘Hawkish’ in Next Couple of Meetings
November 16, 2021
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WASHINGTON—The U.S. Federal Reserve should “tack in a more hawkish direction” over its next couple of meetings to prepare in case inflation does not begin to ease, St. Louis Federal Reserve bank president James Bullard said on Tuesday. “If inflation happens to go away we are in great shape for that. If inflation doesn’t go…
US Manufacturing Output Races to 2–1/2-Year High
WASHINGTON—Production at U.S. factories rebounded more than expected in October as the drag from Hurricane Ida faded and motor vehicle output picked up, but manufacturing continues to be constrained by shortages of raw materials and labor. Manufacturing output surged 1.2 percent last month to its highest level since March 2019, after falling 0.7 percent in…
Report Says Drugmakers Impose Unjustified US Price Increases; Spending on AbbVie Drug Rises $1.4 Billion
WASHINGTON—Drugmakers hiked U.S. prices on 7 of the 10 costliest prescription drugs in 2020 without justification, increasing drug spending by $1.67 billion, a U.S. group that reviews the value of medicines said on Tuesday. AbbVie Inc.’s widely used Humira rheumatoid arthritis drug accounted for the majority of the spending increase, with a net price increase…
US Supreme Court Rejects Volkswagen Appeals Over Emissions Tampering
WASHINGTON—The U.S. Supreme Court on Monday rejected Volkswagen AG’s bid to avoid lawsuits filed by officials in three states seeking damages stemming from the German automaker’s diesel emissions cheating scandal. The justices refused to hear appeals by VW and German auto supplier Robert Bosch LLC of a lower court ruling allowing Florida’s Hillsborough County and…
China Uses Mock-ups of US Aircraft Carrier as Training Target, Satellite Images Show
November 8, 2021
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New satellite images reveal mock-ups of U.S. naval vessels in a desert in western China. The structures, designed to appear as an American aircraft carrier and destroyers, are likely intended to be used as targets in military training. The images were captured by Maxar Technologies, a Colorado-based imaging company. They were taken via satellite over…
China Set to Have 1,000 Nuclear Warheads by 2030, Pentagon Report Warns
November 3, 2021
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China is on track to have 700 deliverable nuclear missiles by 2027 and could have as many as 1,000 by 2030, according to a new report by the Pentagon. “Over the next decade, the PRC [People’s Republic of China] aims to modernize, diversify, and expand its nuclear forces,” the report reads. “The PRC is investing in,…
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