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LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. The reduction is largely a byproduct of the $3 billion that Intel is also receiving to provide computer chips to the military. President Joe Biden announced the agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans in March. The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press. In August, the chipmaker announced that it would cut 15% of its workforce — about 15,000 jobs — in an attempt to turn its business around to compete with more successful rivals like Nvidia and AMD. Unlike some of its rivals, Intel manufactures chips in addition to designing them. Two years ago, President Biden hailed Intel as a job creator with its plans to open a new plant near Columbus, Ohio. The president praised the company for plans to “build a workforce of the future” for the $20 billion project, which he said would generate 7,000 construction jobs and 3,000 full-time jobs set to pay an average of $135,000 a year. The California-based tech giant's funding is tied to a sweeping 2022 law that President Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the CHIPS and Science Act , the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips stalled factory assembly lines and fueled inflation . The Biden administration helped shepherd the legislation following pandemic-era concerns that the loss of access to chips made in Asia could plunge the U.S. economy into recession. When pushing for the investment, lawmakers expressed concern about efforts by China to control Taiwan, which accounts for more than 90% of advanced computer chip production. In August, the administration pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant could expand the facilities it is already building in Arizona and better ensure that the most advanced microchips are produced domestically for the first time. The Commerce Department said the funding for Taiwan Semiconductor Manufacturing Co. meant the company could expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub. The administration has promised tens of billions of dollars to support construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. _____ Boak reported from Washington. Josh Boak And Sarah Parvini, The Associated Press
General Hospital fans were left "seriously angry" and will "never forgive" writers after fan-favorite character Dex Heller was suddenly killed off the series. During the Friday, Dec. 13 episode of General Hospital , fans were in complete disbelief as Dex abruptly died following complications from surgery. This comes as Kelly Monaco's beloved character Sam McCall died under almost the exact same circumstances. And as a killer is clearly on the loose in Port Charles, many fans agree that the soap is becoming "unbearable to watch" as the core cast is being cut out left and right. During the emotional episode, Josslyn Jacks broke down in tears as she was delivered the devastating news that her ex-boyfriend and close friend Dex passed away after surgery. This comes as Dex was the victim of a mysterious violent attack while on police duty. The incident took place after Dex and his fellow officers were called in to break up a fight among a group of intoxicated teenagers at a local holiday party. General Hospital fans predict Cyrus was ‘getting rid of a witness’ in Sam’s death as Dex is mysteriously stabbed General Hospital fans beg for Kelly Monaco 'Christmas miracle' as they want one character to 'go away' As Dex was dumping out the leftover liquor he confiscated, he was suddenly approached from behind and stabbed on the side. After being transported to the hospital, doctors assured him that he was going to be just fine and make a complete and speedy recovery after surgery. But in an unexpected turn of events, Dex died shortly after the procedure due to unknown causes. As hospital staff and Dex's loved ones are scrambling for answers, General Hospital fans have taken to social media sharing their outrage over his untimely passing. On X, formerly Twitter, one angry viewer wrote: "I am seriously p'd about this. You make us love him and then you kill him off?" Another furious fan wrote: "THAT IS THE FINAL STRAW! F--k you @valentinifrank @ABCNetwork @GeneralHospital! I WILL NEVER FORGIVE YOU FOR RUINING A SHOW I WAS LOYAL TO FOR 40 YEARS! DONE WATCHING BECAUSE IT HURTS TO LOSE FAVORITE CHARACTERS OVER AND OVER! FRANK NEEDS TO BE FIRED ASAP!" Another chimed in: "Been watching on/off since before Luke and Laura’s wedding. Then on DVR. Never has it been this bad! Marketing 101 - keep characters around long enough so that viewers can get to know them and get engrossed in their stories. This is a freakin revolving door." And a fourth fan penned: "WHAT IN HELL IS HAPPENING IN PORT CHARLES?! Dex? Seriously?" Click here to follow the Mirror US on Google News to stay up to date with all the latest news, sport and entertainment stories. All the latest news, showbiz, lifestyle and sports updates, brought to you by our dedicated American team. Follow the Mirror US News page on Facebook to make sure you're not missing out. DAILY NEWSLETTER: Sign up here to get the latest news and updates from the Mirror US straight to your inbox with our FREE newsletter.
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Tom Mayenknecht: Otherwordly new contract for Mets' Juan SotoAlly Langdon confronts Commonwealth Bank boss By HARRISON CHRISTIAN FOR DAILY MAIL AUSTRALIA Published: 21:42 GMT, 3 December 2024 | Updated: 21:51 GMT, 3 December 2024 e-mail 8 shares 48 View comments Ally Langdon has unleashed on an executive from Australia's biggest bank after it slapped a $3 fee on customers for withdrawing their own cash. Commonwealth Bank customers got a rude shock on Monday when the bank announced it was closing its 'Complete Access Account' and changing them to 'Smart Access Accounts,' which have a $3 fee tacked onto every withdrawal from a branch, a post office or phone. Angus Sullivan, the executive of the bank's retail banking services, tried to defend the new charge on Tuesday night under a grilling from Langdon on A Current Affair. 'It doesn't sit well with families who are struggling as our banks make billions,' she said. 'What a way to say Merry Christmas and thank you for your loyalty.' But Mr Sullivan hit back that the new fee was a 'very modest cost'. 'The reality is that handling cash is expensive,' he said - despite the bank's almost $10billion profit this year. He also insisted that the change was only 'relevant to about 10 per cent of CBA's customer base'. Angus Sullivan insisted the fee would only affect about 10 per cent of CommBank's customers 'What a way to say Merry Christmas and thank you for your loyalty,' quipped Ally Langdon 'And for our Complete Access customers, approximately 90 per cent of them will be either better off, or have a neutral outcome.' Customers who were on government concessions were excluded from the changes, Mr Sullivan said. There were also free options for people who wanted to avoid the fee, including ATMs and deposit ATMS. Langdon was not satisfied with the executive's answers, and said banks could do more to help Australians in the midst of a cost-of-living crisis. 'I don't know if the majority of Australians feel the same way that their bank is supporting them,' she said. 'You know what would be welcomed? An interest rate cut. That would get you off the naughty list.' Mr Sullivan laughed off the suggestion. 'That's not in my purview to make happen,' he said. 'But I appreciate customers are doing it tough at the moment. I certainly hope that we can explain these changes in a way that makes our customers feel that we have put them in our mind.' Aussies unleashed about the interview on social media. 'What a pathetic response from this spokesperson for CBA,' one said. 'Just be up front and honest. It about profits and high level management bonuses. You treat people like d*ck heads. Actually have some respect for your customers.' Another customer said they would be closing their account following the introduction of the fee. 'Commonwealth Bank I will be closing my 35 year account with you tomorrow and withdrawing the $365,000 IN CASH,' they said. 'Take your money elsewhere, money does the talking when it comes to banks,' urged another viewer. Meanwhile, Anthony Albanese 's government has urged the Commonwealth Bank to reconsider the fee. Housing Minister Clare O'Neil slammed the decision, and called on the bank to reconsider. 'It doesn't seem fair or appropriate and this is a huge bank making huge profits. Come on, guys. It's Christmas. We don't need this right now,' O'Neil told Nat Barr's Sunrise show. In defence of the new fee, Angus Sullivan told Ally Langdon that handling cash was 'expensive' Read More BREAKING NEWS Anthony Albanese's government issues a tough reality check to Commonwealth Bank after new cash fee 'This is not something the bank should be doing and we're asking them to reconsider.' Rural Queensland MP Bob Katter has also spoken out about the fee. He called it an 'act of defiance and contempt for the people of Australia,' in an interview with Channel 10's The Project. Commonwealth Bank told Daily Mail Australia on Tuesday it 'continues to offer customers free cash withdrawals from our national ATM network'. 'The monthly account fee for the Smart Access account is currently $2 less than the Complete Access account and both accounts offer similar features,' the spokesperson said. Smart Access, the bank's main transaction account, already had a $3 assisted withdrawal fee before Monday's announcement. Customers affected by the transition will have to pay the new fee from January 6. Commonwealth Bank Share or comment on this article: Ally Langdon confronts Commonwealth Bank boss e-mail 8 shares Add comment