Chip Shortage Forces More Production Cuts by GM, Ford
The global shortage of semiconductors is forcing General Motors and Ford to further cut production at North American factories as chip supplies seem to be growing tighter.
The global shortage of semiconductors is forcing General Motors and Ford to further cut production at North American factories as chip supplies seem to be growing tighter.
Taiwan Semiconductor Manufacturing Co., the world’s biggest contract producer of processor chips, says its revenue rose 16.7% in the latest quarter over a year earlier as the global economy rebounded from the coronavirus pandemic and demand surged.
Mortgage rates fell for the first time in more than two months as buyers continue to be stifled by high prices and limited supply.
The U.S. trade deficit grew to a record $71.1 billion in February, as a decline in exports more than offset a slight dip in imports.
Amazon founder and CEO Jeff Bezos is endorsing President Joe Biden’s focus on building up the country’s infrastructure and says the company even supports a corporate tax rate hike to help pay for it.
The European Union has approved $4.7 billion in state aid for national carrier Air France as it struggles through the economic impact of the COVID-19 pandemic.
A New York hedge fund says it’s selling as much as half of its ownership of Atlantic City’s Ocean Casino to Detroit’s Ilitch family.
Asian shares are mixed after a Wall Street rally that reflected some optimism about the economy recovering from the pandemic.
A new fissure has opened up at an Icelandic volcano that began erupting last month, prompting the evacuation of hundreds of hikers who had come to see the spectacle.
The U.S. services sector, which employs most Americans, recorded record growth in March as orders, hiring and prices all surged.