The 68-32 vote for the bill demonstrates how confronting China economically is an issue that unites both parties in Congress. That’s a rarity in an era of division as pressure grows on Democrats to change Senate rules to push past Republican opposition and gridlock.
The centerpiece of the bill is a $50 billion emergency allotment to the Commerce Department to stand up for semiconductor development and manufacturing through research and incentive programs previously authorized by Congress. The bill’s overall cost would increase spending by about $250 billion with most of the spending occurring in the first five years.
Supporters described it as the biggest investment in scientific research that the country has seen in decades. It comes as the nation’s share of semiconductor manufacturing globally has steadily eroded from 37% in 1990 to about 12% now, and as a chip shortage has exposed vulnerabilities in the U.S. supply chain.
Continue reading your story on the app
Continue reading your story in the magazine
3 TECH GIANTS REPORT COMBINED PROFITS OF MORE THAN $50B
Three tech companies — Apple, Microsoft and Google owner Alphabet — reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way we live.
ASTRAZENECA TO SEEK US APPROVAL OF COVID VACCINE IN 2ND HALF
AstraZeneca said Thursday that it intends to seek U.S. approval for its COVID-19 vaccine later this year, further delaying the application even as the company announced it had already delivered more than 1 billion doses to other countries.
AMERICAN PLANS TO INVEST IN A BUDGET AIRLINE BASED IN CHILE
American Airlines plans to invest in a Chilean budget airline and sell seats on each other’s flights to help American extend its reach in South America.
RUSSIA FINES GOOGLE FOR VIOLATING DATA STORAGE LAW
A Moscow court ordered Google on Thursday to pay a fine of 3 million rubles (roughly $41,000) for refusing to store the personal data of Russian users on servers in Russia, a move that is part of the government’s longstanding effort to tighten its grip on online activity.
RUSSIAN LAB MODULE DOCKS WITH SPACE STATION AFTER 8-DAY TRIP
Russia’s long-delayed lab module successfully docked with the International Space Station on Thursday, eight days after it was launched from the Russian space launch facility in Baikonur, Kazakhstan.
FORD OVERCOMES COMPUTER CHIP SHORTAGE, POSTS SURPRISE PROFIT
Sky-high sales prices for its pickup trucks and SUVs helped Ford Motor Co. turn a surprise second-quarter profit despite a global shortage of computer chips that cut factory output in half.
US ECONOMY SURPASSES PRE-PANDEMIC SIZE WITH 6.5% Q2 GROWTH
Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. The total size of the economy has now surpassed its pre-pandemic level.
NEW TECHNOLOGY PROPELS EFFORTS TO FIGHT WESTERN WILDFIRES
As drought- and wind-driven wildfires have become more dangerous across the American West in recent years, firefighters have tried to become smarter in how they prepare.
NOKIA PROFIT SUBSTANTIALLY UP ON NEW OPERATING MODEL, 5G
Wireless network maker and 5G technology provider Nokia reported substantially improved second-quarter profit Thursday, citing the help of its new operating model and booming sales of 5G equipment.
FACEBOOK PROFITS TOP $10B AS ITS CEO EXALTS THE ‘METAVERSE'
Concerns about a revenue growth slowdown pushed Facebook’s shares lower in afterhours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue.
How we know
TOBIN HART is a humanistic transpersonal psychologist, professor in the University of West Georgia’s Humanistic, Transpersonal and Critical Psychology program, and co-founder of the ChildSpirit Institute. In the final part of this series, in which he is interviewed by VICTOR KANNAN, Director of the Heartfulness Institute USA, Tobin speaks about the intersection of western psychology and spirituality, in particular the importance of presence, imagination, wisdom, love, compassion, purity, and overcoming spiritual bypassing.
One of my closest friends in my hometown had a love marriage, which many considered to be a rebellious act against our small society.
DR. RICHARD DAVIDSON is a prolific and well-known neuroscientist, speaker, meditator and author. In March 2021, Richie was interviewed by THANGAM VENKATESAN, professor of medicine at the Medical College of Wisconsin and ANAGHA MATAPURKAR, Ph.D. MBA, about his life’s journey and latest initiatives to bring well-being to humanity.
Contentment - THE ART OF REMOVING AND CREATING HABITS
DAAJI continues his series on refining habits, in the light of Patanjali’s Ashtanga Yoga and current scientific and yogic principles and practices. Last month, he explored the first Niyama of purity, shaucha. This month he shares his insights on that pivotal human quality – contentment, which is known in Yoga as santosh.
Communication: Bridging the Gap
In this 3-part series, LIZ KINGSNORTH introduces the basic principles of Heartful Communication, and how it can guide our understanding of our personal feelings and the feelings of others, ultimately leading to a more consistent state of harmony. In part 1, she focuses on the importance of the quality of our communication.
If You Disagree, You Are Not Listening
DR. ICHAK ADIZES explores the art of diffusing a disagreement, especially when the other party claims that you have not understood them because you are not listening. He uses the technique of mirroring to ensure better understanding and communication.
Our Shared Humanity
“Compassion is not a relationship between the healer and the wounded. It’s a relationship between equals. Only when we know our own darkness well can we be present with the darkness of others. Compassion becomes real when we recognize our shared humanity.” —Pema Chödrön
The Pandemic of the Separate Self
DAN SIEGEL is a clinical professor of psychiatry at the UCLA School of Medicine and executive director of the Mindsight Institute. In part 2 of his interview with UDAY KUMAR, he speaks about intraconnectedness, alloparenting, presence, connection, open awareness, and love.
THE CAB RIDE
I sat in the cab on my way to the airport as the driver zoomed over Delhi’s wide roads. The sun was rising over the horizon as a new day dawned – quite literally, as election day approached the city of Delhi.
Turn It Around
AMRUTA PATEL is a student at the London School of Hygiene & Tropical Medicine. She has been studying Marshall Rosenberg’s Nonviolent Communication and Heartful Communication for the last several months.