WASHINGTON (AP) – President Donald Trump said that Intel has agreed to give the U.S. government a 10% stake in its business. Speaking with reporters on Friday, Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan – which came days after the president called for Tan to resign over his past ties to China.
JACKSON HOLE, Wyo. (AP) – Federal Reserve Chair Jerome Powell on Friday opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing of a move and suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
Excerpts from recent editorials in the United States and abroad:
Google on Wednesday unveiled a new line-up of Pixel smartphones injected with another dose of artificial intelligence that’s designed to do everything from fetch vital information stored on the devices to help improve photos as they’re being taken.
BERLIN (AP) – The German economy shrank by 0.3% in the second quarter compared with the previous three-month period, official data showed Friday, a significantly worse showing than was initially reported as tensions with the U.S. over tariffs simmered.
BANGKOK (AP) – Nvidia CEO Jensen Huang said Friday that the company is discussing a potential new computer chip designed for China with the Trump administration. Huang was asked about a possible “B30A” semiconductor for artificial intelligence data centers for China while on a visit to Taiwan.
Lowe’s is buying Foundation Building Materials, a distributor of drywall, insulation and other products, for approximately $8.8 billion as the home improvement retailer intensifies its focus on professional builders.
NEW YORK (AP) – Federal auto safety regulators are investigating why Tesla has repeatedly broken rules requiring it to quickly tell them about crashes involving its self-driving technology, a potentially significant development given the company’s plans to put hundreds of thousands of driverless cars on U.S. roads over the next year.