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US finalizes up to $6.6 bn funding for chip giant TSMC
US finalizes up to $6.6 bn funding for chip giant TSMC

The United States will award Taiwanese chip giant TSMC up to $6.6 billion in direct funding to help build several plants on US soil, officials said Friday, finalizing the deal before a new administration enters the White House. Besides the $6.6 billion in direct funding, the United States is also providing up to $5 billion in proposed loans to TSMC Arizona.

US retail sales lose steam in October after hurricanes
US retail sales lose steam in October after hurricanes

Retail sales in the United States slowed in October, according to government data released Friday, with analysts noting that devastating hurricanes in recent months likely disrupted consumption. Sales rose 0.4 percent in October from a month prior to $718.9 billion, according to Department of Commerce data.