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A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)Amber Wang | Afp | Getty ImagesThe U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.The binding contract — after a preliminary agreement announced in April — is the first major award to be completed under the $52.7 billion program created in 2022.It comes just weeks before President-elect Donald Trump, who criticized the program, takes office.In April, TSMC agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030.The Taiwanese ...

Upping your exposure to Chinese stocks is worth the risk.That's the view of Caroline Cai, CEO of U.S.-based Pzena Investment Management. "This is really for the first time in the last seven, eight years where we think you're getting paid to expose yourself to China," Cai told "CNBC Squawk Box Asia" this week.The investment firm has ramped up its exposure to Chinese equities in the last two years. For Cai, the opportunities in China are exciting."It's not because we have a particularly positive view on longer term Chinese macro, we kind of think things are pretty challenging. What we're attracted to is the extreme valuation that we're seeing in China, where people are basically saying there's no price at which you can entice me to invest in China," she said."Our view is, if the risk is obvi...

The latest obsession on TikTok is the "Winter Arc" challenge, which sees young people get ahead of their New Year's Resolutions.Winter Arc TikTok is flooded with videos of young men and women wearing dark-colored oversized hoodies and athleisure, working out in the gym, or going for early-morning runs."These are the months where a lot of people tend to slow down … this is the time where people tend to let their foot off the gas," says one TikToker, Carly Upgraded, in a video with 4.6 million views.Carly says the Winter Arc is all about being "laser-focused" on your goals, so that you're transformed by the new year. Her goals include waking up at 5:30 a.m., having a workout and meal plan, reading books, and even posting more content on TikTok.Despite its recent popularity, the now-viral tre...

Jure Susac, a Bosnian olive farmer from the western-Herzegovinian town of Ljubuski, delivers his pickings to an oil-mill in Capljina, during harvest season, on October 29, 2022.Elvis Barukcic | Afp | Getty ImagesSpain's Deoleo, the world's largest olive oil producer, says one of the most challenging moments in the industry's history appears to be drawing to a close, with "liquid gold" prices expected to nearly halve from an all-time high over the coming months.A prolonged period of climate-fueled extreme weather and drought in southern Europe has severely impacted olive harvests in recent years, culminating in a dizzying price rally that shocked industry veterans and consumers alike.The shortage of olive oil, a superfood staple of the Mediterranean diet, pushed the industry into crisis mod...

Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. (photo by Mike Kemp/In Pictures via Getty Images)Mike Kemp | In Pictures | Getty ImagesThe U.K. economy grew less than expected in the third quarter of the year, showing only marginal growth following a rebound at the start of the year, initial figures showed Friday.Gross domestic product came in at 0.1% in the three months to September compared to the previous quarter. That's below the 0.2% growth expected by economists polled by Reuters and follows an expa...

Robert F. Kennedy Jr. in Phoenix on Aug. 23, 2024.Thomas Machowicz | ReutersShares of vaccine makers fell Thursday as President-elect Donald Trump nominated Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services. The stocks fell in the final hour of trading as reports emerged about Trump's expected pick. Moderna's stock closed more than 5% lower on Thursday, shares of Novavax fell more than 7% and Pfizer's stock ended more than 2% lower.Shares of BioNTech, the German drugmaker that helped develop a Covid vaccine with Pfizer, closed more than 6% lower. British drugmaker GSK, which makes flu shots and several other vaccines, closed roughly 2% lower.Shares of those companies dipped further in extended trading as Trump confirmed his pick in a po...

President-elect Donald Trump said Thursday that he will nominate vaccine skeptic and conspiracy theorist Robert F. Kennedy Jr. as secretary of the Health and Human Services Department.If the Senate approves Kennedy, the former independent presidential candidate will lead a sprawling department responsible for the huge Medicare and Medicaid health coverage programs, the Food and Drug Administration, the National Institutes of Health, and the Centers for Disease Control and Prevention.HHS's decisions on spending and policies have major effects on the U.S. health-care system and related businesses.Kennedy, 70, is the son of Robert F. Kennedy, the late U.S. attorney general and Democratic senator from New York who was assassinated in 1968 by a gunman in Los Angeles as he ran for president. He ...