British semiconductor bosses threaten to move overseas as U.S. and EU splurge on chips
Publishing timestamp: 2023-02-13 08:59:59
Summary
U.K. semiconductor industry is pleading with government for subsidies amid fears that some chip firms will be forced to move overseas due to lack of similar strategy from U.K. compared to U.S. and EU. Prime Minister Rishi Sunak's government is yet to announce strategy outlining U.K. efforts to support chip industry. Companies such as Pragmatic Semiconductor, Arm, TSMC, and IQE have warned they may be forced to relocate overseas if government does not issue plan for industry soon. U.K. tech industry executives have said lack of similar strategy from government is hurting country's competitiveness.
Sentiment: MIXED
Tickers: 2330-TW, TSM, IQE-GB,
Keywords: politics, internet, joe biden, iqe plc, technology, computer hardware, taiwan semiconductor manufacturing co ltd, business news,
Source: https://www.cnbc.com/2023/02/13/uk-semiconductor-strategy-chip-firms-threaten-to-move-overseas.html