Day: April 24, 2021

Amazon warns against car industry getting special treatment in efforts to fix chip shortage

Amazon has warned against the car industry receiving special treatment to address the chip shortage crisis that has shut factories around the world.

The technology giant told a review into Joe Biden’s plans to provide billions in subsidies for US chip manufacturing that a wide range of products from data centres to satellites were at risk from the shortage.

“Any government incentives and efforts to diversify the semiconductor supply chain should be made across the board, for access by and for the benefit of all users and customers of semiconductor technology,” the company said in its response to a consultation. 

“No single sector should be favoured over other sectors, as semiconductor technology underlies a large variety of industries.”

The Biden administration is proposing to spend $50bn (£36bn) in subsidies for chip research and manufacturing, an effort to ease the current shortage of chips and to ease reliance on Asia, where

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Baidu-Geely Joint Venture Aims $7.7B Investment In Smart Car

Bloomberg

A $6 Trillion Family Office World Fights Post-Archegos Crackdown

(Bloomberg) — The implosion of Archegos is giving thousands of secretive family offices the greatest challenge to their privacy in a decade. They won’t give it up without a fight.Some lawmakers, regulators and consumer advocates are pushing to expose the inner workings of family offices, which are closely held and lightly regulated yet manage an estimated $6 trillion for the ultra-rich globally.The changes the reform advocates seek would require U.S. family offices to register as investment advisers and publicly report holdings on a quarterly basis, as most other types of investment firms must.Such data could alert regulators, investors and other Wall Street players to hidden risks, yet it could also reveal proprietary information to rivals.Those advocating greater regulation are optimistic that new Securities and Exchange Commission Chair Gary Gensler, who has a tough-on-Wall-Street reputation, will see things their way. “The

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