Town Hall News

By Jane Lanhee Lee and Stephen Nellis SANTA CLARA, California (Reuters) -U.S. semiconductor toolmaker Applied Materials Inc on Monday said it plans to spend up to $4 billion on a research center in the heart of Silicon Valley to speed up advances in semiconductor manufacturing. The center based in Sunnyvale, California, will come on line in 2026 and create up to 2,000 engineering jobs, said Applied, the world’s biggest maker […]

By Timothy Gardner WASHINGTON (Reuters) -The U.S. Energy Department decided on Monday to cancel contract negotiations on a $200 million award for Microvast Holdings, a lithium battery company, a source familiar with the matter said. The department had been in talks with Microvast over a grant of $200 million from the $1 trillion 2021 bipartisan infrastructure law for developing domestic manufacturing bases and supply chains. Last December, two Republican lawmakers […]

MEXICO CITY (Reuters) -Taiwan-based electronics manufacturer Quanta Computer will invest $1 billion in the northern Mexican state of Nuevo Leon, Governor Samuel Garcia announced in a Monday post on Twitter. The outspoken border state leader added that the investment would lead to the creation of 2,500 jobs. Speaking from Quanta Computer’s Mexican headquarters in the state capital of Monterrey, Garcia said the investment reflected the potential of nearshoring and was […]

NEW YORK (Reuters) – The writer E. Jean Carroll on Monday sought to amend the first of two defamation lawsuits she filed against Donald Trump, arguing that the former president’s statements after a jury found him liable in the second suit warranted “very substantial” damages. A federal jury in Manhattan on May 9 found Trump sexually abused Carroll in the 1990s and then defamed her by lying about it in […]

(Corrects paragraph four to say source declined to comment on whether the cancellation had anything to do with any China ties with Microvast, not source said the cancellation had nothing to do with any China ties) WASHINGTON (Reuters) -The U.S. Energy Department decided on Monday to cancel contract negotiations on a $200 million award for Microvast Holdings, a lithium battery company, a source familiar with the matter said. The department […]

By David Shepardson WASHINGTON (Reuters) -TikTok Inc on Monday filed a lawsuit challenging the state of Montana’s new ban on use of the Chinese-owned app, the first state to bar the popular short-video sharing service.     TikTok argues the ban, which would take effect on Jan. 1, violates First Amendment rights of the company and users. The lawsuit, filed in U.S. District Court in Montana, also argues the ban is […]

(Reuters) -Zoom Video Communications Inc on Monday raised its full-year forecasts for revenue and profit as hybrid work trends sustain demand for the firm’s video-conferencing services, sending its shares up nearly 5% in extended trading. Zoom became a household name during lockdowns as companies and people turned to the platform to stay connected. Now, it is seeking to retain customers and outpace competition with expanded offerings such as online webinars, […]

By Andrea Shalal and David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, leaving just 10 days for White House negotiators and congressional Republicans to reach a deal. In her third letter to Congress in three weeks, Treasury Secretary Janet Yellen said it was “highly likely” that the […]

By Jonathan Stempel (Reuters) – Abbott Laboratories persuaded a federal judge to dismiss some claims in nationwide litigation over recalled baby formula. In a decision on Monday, U.S. District Judge Matthew Kennelly in Chicago dismissed claims by parents pursuing only “economic loss” claims related to Similac and other formula that they said had a “substantial risk” of bacteria contamination. The parents said they would not have bought or would have […]