Plus, Google proposes more changes to its search results in Europe. And Best Buy says President-elect Donald Trump’s new proposed tariffs will raise prices for customers. Danny Lewis hosts.
Learn more about your ad choices. Visit megaphone.fm/adchoices
[00:00:00] How do airplanes fly? What's in this box? What does this thing do?
[00:00:05] Kids are curious about everything, including guns. Learn how to store your gun securely and make your home safer at nfamilyfire.org. Brought to you by N Family Fire, Brady and the Ad Council.
[00:00:16] Here's your TNB Tech Minute for Tuesday, November 26th. I'm Danny Lewis for The Wall Street Journal.
[00:00:23] The U.S. government is granting Intel up to $7.9 billion to help fund new chip plants.
[00:00:29] It's the largest award under the 2022 CHIPS Act, the Biden administration's program to revive domestic chipmaking.
[00:00:36] The money will go towards new Intel factories and expansion projects in Arizona, New Mexico, Ohio and Oregon.
[00:00:44] In exchange, the U.S. Commerce Department says Intel agreed not to engage in stock buybacks for five years.
[00:00:50] Google is proposing more changes to how its search results work in Europe in order to satisfy requests from competitors and regulators.
[00:00:58] Under the EU's Digital Markets Act, the tech giant made several changes to boost the prominence of comparison sites for people looking to book flights, hotel stays and shop online.
[00:01:08] But Google says some companies still reported struggling to reach customers.
[00:01:12] In a statement, the tech giant's legal director says Google will make more changes, like allowing users to choose between comparison sites and going directly to suppliers' websites, and letting companies show more information, like prices and pictures.
[00:01:26] And Best Buy's CEO says President-elect Donald Trump's proposed tariffs will raise prices for customers.
[00:01:33] The electronics retailer also cut its revenue and earnings for the year following shaky sales in the third quarter.
[00:01:41] CEO Corey Berry says tight margins in the consumer electronics industry mean that Best Buy and its vendors will only be able to absorb some of the added costs of new tariffs on imports from Mexico and China.
[00:01:53] Best Buy shares fell roughly 4.9%.
[00:01:56] For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.