China lashed out at a $52 billion program to expand American chipmaking, saying the landmark blueprint contains elements that violate fair market principles and targets Beijing’s own efforts to build a semiconductor industry.
Metal hardware has been in short supply the last couple of years, and one item in particular has bedeviled Amish craftsmen: drawer slides.
House Speaker Nancy Pelosi’s visit to Taiwan, which has has enraged Beijing and Chinese nationalists, could further muddle Washington’s already complicated relationship with China as the two sides wrest with differences over trade, the war in Ukraine, human rights and more.
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Cummins is investing in VoltStorage, a Munich, Germany-based company that develops and produces batteries based on redox flow technology, a more environmentally friendly alternative to lithium-ion batteries.
The U.S. Dollar Index, which measures the value of American money against six major foreign currencies, has jumped nearly 12% this year, to a two-decade high.
Mexico’s president has submitted a bill to end the practice of changing clocks twice a year. The change would mean central Mexican time, which covers most of the country, could be permanently two hours behind the east coast of the United States.
A campaign launched last week by a Windsor, Ontario-based economic development organization is targeting small- to medium-sized tech companies in Indiana and three other midwestern states. The goal is to get them to expand or relocate into Windsor.
InoBat Auto, a Slovakian company that launched in 2019, said Thursday that it plans to open battery R&D and production sites in Indiana, in partnership with New York City-based Ideanomics Inc.
The Ocean Shipping Reform Act passed the Senate unanimously via voice vote and garnered bipartisan House support.
Some domestic producers say President Biden’s actions would help China’s state-subsidized solar companies at the expense of U.S. manufacturers.
The Indiana Economic Development Corp., which focuses on bringing new business to the state, originally planned to host the Indiana Global Economic Summit in 2020 before the pandemic curtailed travel and meetings.
Last year, McDonald’s Russian operations contributed 9% of the company’s total annual sales, or around $2 billion.
The forecast comes as Europe and North America look to reduce their dependency on Chinese imports and develop their own lithium production. China has enjoyed a stranglehold over the lithium supply chain.
More than three decades after it became the first American fast food restaurant to open in the Soviet Union, McDonald’s said Monday that it has started the process of selling its business in Russia, another symbol of the country’s increasing isolation over its war in Ukraine.
Cummins made the disclosure in its first-quarter financial report. Profit dropped in the period, but sales hit a record high. The company also said interest in its emerging hydrogen business is growing.
Indiana Gov. Eric Holcomb and Secretary of Commerce Brad Chambers spent this week in Sweden, the United Kingdom and Monaco meeting with world leaders and companies.
Security-products company Allegion, which has about 1,300 employees at its Americas headquarters in Carmel, expects to close the largest deal in its history in the third quarter.
Prodport’s CEO and cofounder is Ohad Hecht of Carmel, who formerly led marketing-tech firm Emarsys until leaving that company last year.
Treasury Secretary Janet Yellen and Ukraine’s Finance Minister Serhiy Marchenko walked out of a Group of 20 meeting Wednesday as Russia’s representative started talking.
