Democrats ask Raimondo to step up enforcement on CHIPS funding
Publishing timestamp: 2024-07-02 10:11:25
Summary
Democrats are concerned that companies receiving federal funding for semiconductors may be using the money for stock buybacks instead of investing in their businesses. Lawmakers are urging Commerce Secretary Gina Raimondo to ban stock buybacks for companies that receive CHIPS funds. Warren Buffett's Berkshire Hathaway made billions from China EV maker BYD.
Sentiment: MIXED
Keywords: breaking news: politics, elizabeth warren, breaking news: technology, breaking news: markets, washington, intel corp, pat gelsinger, bae systems plc, markets, politics, gina raimondo, business news, technology,
Source: https://www.cnbc.com/2024/07/01/democrats-ask-raimondo-for-more-oversight-on-chips-funding.html