The European Chips Act entered into force Thursday, putting in place a comprehensive set of measures to ensure the European Union's security of supply, resilience, and technological leadership in semiconductor technologies and applications.
The European Chips Act aims to strengthen manufacturing activities in the European Union, stimulate the European design ecosystem, and support scale-up and innovation across the whole value chain. The European Union aims to reach its target to double its current global market share of semiconductor to 20 percent in 2030.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.