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EU seeks to supercharge computer chip production

EU seeks to supercharge computer chip production

Business
Getty ImagesThe European Commission has set an ambitious target to boost production of cutting-edge computer chips by the end of the decade.It wants 20% of such chips, in terms of value, to be manufactured within the EU by 2030. It was 10% in 2020.The pledge comes at a time when supply has failed to meet demand, causing problems for car-makers and others.Part of the challenge will be that the US and mainland China are also seeking to increase their own output.At present, Taiwan's TSMC and South Korea's Samsung dominate, with the two companies being the only ones capable of physically producing the very latest in chip tech."We are in a sort of paradoxical situation where Europe is using a lot of these different types of technology, but we're producing little," said European Commission execu...
Semiconductor shortage forces automobile production cuts

Semiconductor shortage forces automobile production cuts

Technology
A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdownsBy TOM KRISHER AP Auto WriterJanuary 8, 2021, 9:34 PM• 3 min readShare to FacebookShare to TwitterEmail this articleDETROIT -- A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns.Officials at Volkswagen, Ford, Fiat Chrysler, Toyota and Nissan all say they have been hit by the shortage and been forced to delay production of some models in order to keep other factories running.“This is absolutely an industry issue,” Toyota spokesman Scott Vazin said in an ema...
OneWeb’s satellite plant returns to full-scale production

OneWeb’s satellite plant returns to full-scale production

Science
ORLANDO, Fla., Dec. 1 (UPI) -- Florida-based OneWeb Satellites has returned to full-scale production of spacecraft after its big client and part owner, OneWeb, emerged from bankruptcy. The high-tech factory near Kennedy Space Center churns out eight satellites a week, which is the average pace it was on before the bankruptcy, CEO Tony Gingiss said in an interview Friday. Advertisement "We are stronger and leaner as an organization now," Gingiss said. "We hit pause, like many others had to in 2020, due to the pandemic and the OneWeb bankruptcy, but it made us think a lot about our value proposition." The company is leaner because it is operating with less than 200 people, whereas the plant had almost 400 at its peak in early 2020, he said. OneWeb Satellites plans to hire only about 15 to 2...
Pentagon announces $17.4M in contracts under Defense Production Act

Pentagon announces $17.4M in contracts under Defense Production Act

Business
Aug. 21 (UPI) -- The Pentagon announced contracts totaling $ 17.4 million on Friday to retain contractors' workforce capabilities during the COVID-19 pandemic. All were ordered under the Defense Production Act Title III, which provides the president with broad authority to support, through economic incentives, essential domestic industrial resources involved in national defense and homeland security requirements. Advertisement A $ 3.1 million contract, in conjunction with the Department of Health and Human Services, was announced with BioFire Defense LLC of Salt Lake City to expand production capacity for diagnostic testing for the COVID-19 virus. AQYR Technologies received a $ 3.6 million contract to expand production capability of the Global Broadcast Service Portable Receiver Suite. A ...
Boeing chief ousted days after announcing 737 MAX production to be grounded

Boeing chief ousted days after announcing 737 MAX production to be grounded

Business
Boeing has ousted its boss six days after the company said it was suspending the production of 737 MAX aircraft following two fatal crashes.The aerospace giant said Dennis Muilenburg had resigned as chief executive and board director with immediate effect. Reuters news agency reported that Mr Muilenburg may be eligible for nearly $ 39m in severance. Boeing decline to comment on the figure or whether he would accept it.Announcing the chief executive's departure, the company said: "The board of directors decided that a change in leadership was necessary to restore confidence in the company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders."It follows a year of intense scrutiny and industrial setbacks triggered by the two crashes, the co...