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US fines chipmaker for using blacklisted Chinese company The U.S. fined a chipmaker $500,000 for selling $17.1 million in microchips to a blacklisted Chinese company. GlobalFoundries sent 74 shipments to SJ Semiconductor, which is partly owned by the Chinese government and has been accused by the U.S. of ties to China's military industrial complex. In February, it signed a $1.5 billion deal in funding under Biden's CHIPS and Science Act. HOW THE NEWS IMPACTED GLOBALFOUNDRIES STOCK?
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Markets
DJIA | 42,052.19 | 0.69% |
S&P 500 | 5,728.80 | 0.41% |
Nasdaq Composite | 18,239.92 | 0.80% |
Japan: Nikkei 225 | 38,053.67 | -2.63% |
UK: FTSE 100 | 8,177.15 | 0.83% |
Crude Oil Futures | 70.38 | 1.28% |
Gold Futures | 2,747.80 | -0.05% |
Yen | 151.80 | -0.78% |
Euro | 1.09 | 0.56% | * As of market close |
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Harris makes body-double showing on 'SNL'
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US announces $425M in Ukraine military aid
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TGI Friday's is latest fast-casual casualty
TGI Friday's became the latest fast-casual restaurant chain to go belly-up, and blamed its misfortunes on the COVID-19 pandemic and the company's "capital structure." In a statement, TGI Fridays Inc. said it filed voluntary bankruptcy petitions that cover the 39 fast-casual restaurants it owns and operates in the U.S. Another 56 franchise outlets and 40 outside the U.S. aren't affected and remain open for business. The brand and intellectual property aren't part of the deal. THE LONG LIST OF FAST-CASUALS TO CLOSE SINCE COVID
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Extra point
Who opened the original TGI Friday's? When and where was it located? Friday's answer: The international coffee shop's moniker "Starbucks" was inspired by the first mate's name in the popular novel "Moby Dick."
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