Connect with us
  • tg

Stock Markets

US penalizes GlobalFoundries for shipping chips to Chinese firm

letizo News

Published

on

© Reuters. FILE PHOTO: A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021.  REUTERS/Brendan McDermid/File Photo

(Reuters) – The United States has imposed a $500,000 mitigated penalty against GlobalFoundries (NASDAQ:) for shipping chips to a Chinese company without seeking authorization, the Department of Commerce said on Friday.

In a statement, it said GlobalFoundries had sent 74 shipments worth $17.1 million to a firm on the Bureau of Industry and Security’s entity list. Exports to firms on the list require a license, which GlobalFoundries did not apply for, the department said.

Stock Markets

EU reportedly willing to accept universal 10% tariff but with sector exemptions

letizo News

Published

on

Continue Reading

Stock Markets

Meta hires four more OpenAI researchers, The Information reports

letizo News

Published

on

Continue Reading

Stock Markets

Shares rally on China-US trade optimism, dollar trades at multi-year lows

letizo News

Published

on

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved