Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Top Stories

Posted By Jessica Weisman-Pitts

Posted on March 13, 2024

Britain to join EU semiconductor research programme

Britain to join EU semiconductor research programme

LONDON (Reuters) – Britain said on Wednesday it was joining European Union efforts to develop and manufacture advanced semiconductors in Europe, pledging 35 million pounds ($45 million) to an overall 1.3 billion euro ($1.4 billion) research and innovation fund.

WHY IT IS IMPORTANT

Both Britain and the EU have sought to secure a domestic semiconductor supply chain after the pandemic exposed their reliance on global chipmakers and key technologies owned by Chinese and U.S. companies.

Britain said joining the European chips initiative would allow companies in the British semiconductor sector to bid for grants from the bigger European fund.

CONTEXT

Semiconductors are widely, and increasingly, used in everyday devices, fuelling a global subsidy race to attract manufacturers and develop new technology.

The European Commission in January presented a package of plans aimed at improving economic security and preventing unwanted technology transfers to rivals such as China.

The EU last year passed a 43 billion euro subsidy programme similar to incentive packages in China, the United States, Taiwan, South Korea and Japan.

Last year, Britain rejoined the Horizon Europe science programme, a key EU funding scheme for many types of research and innovation which administers the semiconductor initiative and has an overall budget of 95.5 billion euros.

Britain was initially blocked from participating in Horizon because of disputes over post-Brexit trade rules.

($1 = 0.7824 pounds)

($1 = 0.9160 euros)

(Reporting by Farouq Suleiman; Editing by William James and Mark Potter)

Recommended for you

  • Growing financial services to new heights in 2025: Top predictions

  • How to Navigate the Stock Market in 2025: Tips for Investors

  • Futurex and Cake Digital Bank Collaborate in Order to Set a New Benchmark in Secure Cloud Payment HSM Adoption