UK Chancellor said the rise in UK gilt yields is driven by global uncertainty.

Ericsson CFO says the company may cut jobs as part of its current restructuring.

GlobalFoundries will build two fabs on its existing site in upstate New York with up to $21 billion of Japanese financing, according to an agreement announced Wednesday. The plants will be jointly held by the United States and Japan, and the U.S. government will acquire about a 4% stake in GlobalFoundries. Construction funding will come from Japan’s previously pledged $550 billion of investment in the U.S. The new facilities will produce foundational chips—lower-complexity but widely used semiconductors for autos, industrial equipment and communications—to boost U.S. supply and reduce reliance on East Asian vendors. The deal is pitched as a response to U.S. national-security concerns and to ease base-chip tightness intensified as industry capacity shifts toward advanced AI accelerators such as NVIDIA’s.