U.S. Commerce Aims To Seek Chips Funding Proposals By February

U.S. Commerce Aims To Seek Chips Funding Proposals By February

By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said Tuesday it hopes by February to begin seeking applications for $39 billion in government semiconductor chips subsidies to build new facilities and expand existing U.S. production. Congress in August approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip…

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Crude In U.S. Emergency Reserve Falls To Lowest Since Nov. 1984

Crude In U.S. Emergency Reserve Falls To Lowest Since Nov. 1984

HOUSTON (Reuters) – Crude inventories in the U.S. Strategic Petroleum Reserve (SPR) fell 7.5 million barrels in the week to Sep. 2 to 442.5 million barrels, their lowest level since November 1984, according to data https://www.spr.doe.gov/dir/dir.html from the Department of Energy. About 5.9 million barrels released from the SPR were sweet crude, while 1.7 million…

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Ukraine's Zelenskiy 'rings' NYSE Bell In Quest For Foreign Investment

Ukraine’s Zelenskiy ‘rings’ NYSE Bell In Quest For Foreign Investment

By Andrea Shalal KYIV/NEW YORK (Reuters) – Ukraine’s President Volodymyr Zelenskiy remotely rang the opening bell at the New York Stock Exchange on Tuesday as his nation appealed for billions in private investment to rebuild factories and industries destroyed by Russia. Zelenskiy’s government launched a platform of over 500 projects worth $400 billion for foreign…

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South Africa's Shoprite Promises To Hold Down Prices, Shares Slide

South Africa’s Shoprite Promises To Hold Down Prices, Shares Slide

By Nqobile Dludla JOHANNESBURG (Reuters) -Shares in Shoprite Holdings slid 7% on Tuesday after South Africa’s No. 1 grocer reported lower-than-expected profit and a narrower trading margin, while promising to hold down prices to keep attracting customers as they feel the inflation squeeze. The discount chain with stores in 11 African countries raised its final…

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